In this paper we investigate whether the secondary market trading of syndicated loans compromises the quality of bank lending practices. We compare the performance of borrowers of traded loans following the initial trading event against the performance of borrowers of non-traded loans following...

This paper exploits a unique institutional setting to examine the role of administrative controls, an important aspect of managerial control systems that spans standard operating procedures, rules, and policies. We isolate the role of managerial control systems by examining how changes in...