Showing 1 - 10 of 87
Persistent link: https://www.econbiz.de/10010724605
This paper provides a direct test of banks' ability to mitigate informational asymmetries. In syndicated loans, lenders' incentive to screen ex ante and monitor ex post borrowers increases with the share they retain; consequently, the higher this share, the less risky the loan is considered by...
Persistent link: https://www.econbiz.de/10005583238
To verify if a delegated monitor can certify its ability to perform its assigned tasks, we test whether syndicated loans in which a larger share of the facility is retained by the arranger have lower interest rates. For a large sample of syndicated loans in over 80 countries we find that this...
Persistent link: https://www.econbiz.de/10005131621
TThis paper investigates which factors determine a bank's decision to expand its activities abroad and what determines its choice of the countries to invest in. The empirical analysis is conducted using firm-level data on foreign subsidiaries for a representative sample of nearly 2,500 OECD...
Persistent link: https://www.econbiz.de/10005467309
This paper investigates what factors might help explain the internationalization strategy of banks and insurance companies, by comparing the determinants of cross-border M&As in the two sectors in a unified framework. The empirical analysis shows that between 1990 and 2003 the...
Persistent link: https://www.econbiz.de/10005583212
This paper presents some new evidence on the conflict of interest that may arise when banks underwrite corporate securities and sell them to their customers. Two alternative views are confronted; a) that commercial banks possess private information on the financial condition of their clients and...
Persistent link: https://www.econbiz.de/10005583213
This paper investigates the determinants of the patterns of banks' foreign investment using a unique database of 260 large banks from OECD countries. Consistent with previous research, we find that high integration between the home and destination countries affects the location choice. However,...
Persistent link: https://www.econbiz.de/10005781433
Persistent link: https://www.econbiz.de/10005201052
Persistent link: https://www.econbiz.de/10005213366
This paper investigates the determinants of the pattern of banks' foreign investment. We extended previous analyses in three directions. First, we use a unique database that includes information on 260 large banks from OECD countries and all their foreign branches and subsidiaries in each one of...
Persistent link: https://www.econbiz.de/10005368884