Does poor performance damage the reputation of financial intermediaries? evidence from the loan syndication market

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We investigate the effect of poor performance on financial intermediary reputation by estimating the effect of large-scale bankruptcies among a lead arranger's borrowers on its subsequent syndication activity. Consistent with reputation damage, such lead arrangers retain larger fractions of the loans they syndicate, are less likely to syndicate loans, and are less likely to attract participant lenders. The consequences are more severe when borrower bankruptcies suggest inadequate screening or monitoring by the lead arranger. However, the effect of borrower bankruptcies on syndication activity is not present among dominant lead arrangers, and is weak in years in which many lead arrangers experience borrower bankruptcies..Printed journal

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Ketersediaan

Call Number	Location	Available
JOF6606	PSB lt.dasar - Pascasarjana	1

Informasi Detail

Judul Seri

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No. Panggil

JOF6606

Penerbit

: Wiley Periodicals.,

Deskripsi Fisik

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Bahasa

ISBN/ISSN

221082

Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

Bankruptcy
Credit
Financial institutions
Corporations
Finance
Loans
Agency theory
Banking industry
Corporate debt
Syndicates (finance)
Syndicated loans
Intermediation (finance)
Reputation (sociology)

Info Detail Spesifik

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Pernyataan Tanggungjawab

pa

Versi lain/terkait

Lampiran Berkas

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