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Does poor performance damage the reputation of financial intermediaries? evidence from the loan syndication market
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
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| JOF6606 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | Wiley Periodicals., |
|---|---|
| Edisi | - |
| Subjek | Bankruptcy Credit Financial institutions Corporations Finance Loans Agency theory Banking industry Corporate debt Syndicates (finance) Syndicated loans Intermediation (finance) Reputation (sociology) |
| ISBN/ISSN | 221082 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |