The impact of monetary policy in large advanced countries on emerging market economies�dubbed spillovers�is hotly debated in global and national policy circles. When the U.S. resorted to unconventional monetary policy, spillovers on asset prices and capital flows were significant, though...

We study 1,400 UK syndicated loans, together with the financial history of the lead bank and the borrowing firm. We interpret abnormal equity returns around loan announcements as the value of the lending relationship to the firm. We find that: (i) Consistent with previous evidence, the value of...

The impact of monetary policy in large advanced countries on emerging market economies — dubbed spillovers — is hotly debated in global and national policy circles. When the U.S. resorted to unconventional monetary policy, spillovers on asset prices and capital flows were significant, though...

We study 1,400 UK syndicated loans, together with the financial history of the lead bank andthe borrowing firm. We interpret abnormal equity returns around loan announcements as thevalue of the lending relationship to the firm. We find that: (i) Consistent with previousevidence, the value of...