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We study pricing and non-pricing features of loan contracts to gauge how the credit market evaluates a firm's customer …' financial distress, the level of relationship-specific investments, and the use of trade credit in customer--supplier relations …
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This paper examines the relation between the number and type of lenders that participate in corporate loan facilities and the nature of troubled debt restructurings. We find that loans from traditional bank lenders are significantly easier to restructure out of court than loans from...
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