This study investigates labor union effects on bond yield spreads from perspectives of structural credit models by employing American bond observations from 2001 to 2007. This research finds that union strength significantly and positively relates to bond yield spreads (This effect is roughly...

In this paper, we examine whether cultural biases exist in international syndicated loans. We find that the more positive the perception of trustworthiness that the lender’s country has for the borrower’s country, then the lower the spreads the lender will charge the borrower. We use four...