We show that small firms using syndicated loans for their mid- and long-term financial needs have significantly higher leverage than firms that do not borrow in this market. This difference cannot be attributed to firm characteristics like the availability of growth opportunities, asset...

We show that small firms using syndicated loans for their mid- and long-term financial needs have significantly higher leverage than firms that do not borrow in this market. This difference cannot be attributed to firm characteristics like the availability of growth opportunities, asset...

This study examines whether the coauthors of executive editors of the Review of Financial Studies published more papers during the editor’ tenure. The paper finds that not all executive editors are created equal concerning their impartiality toward their coauthors. The results show that George...

We empirically test the hypothesis that trade flows and debt flows complement each other as argued by Rajan and Zingales (2003). Using a dataset of loans made to U.S. borrowers, we find that the probability of a foreign bank participation in a loan increases as the bilateral trade between the US...