Market response to syndicated loan announcements from high‐profile failed and acquiring banks during the global financial crisis
| Autor: | Dominic Gasbarro, Robert G. Schwebach, J. Kenton Zumwalt, Kim-Song Le |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
040101 forestry
050208 finance 05 social sciences Economics Econometrics and Finance (miscellaneous) Financial system 04 agricultural and veterinary sciences Investment (macroeconomics) Syndicate Market response Syndicated loan Transactional leadership Accounting 0502 economics and business Financial crisis 0401 agriculture forestry and fisheries Business Finance |
| Zdroj: | Accounting & Finance. 60:435-470 |
| ISSN: | 1467-629X 0810-5391 |
| Popis: | Previous studies that have examined the impact of the 2008 financial crisis on syndicated loans have ignored potential differences between lending banks by explicitly or implicitly aggregating all lenders together and focusing on borrower characteristics. One must jointly consider both borrower and lender to fully understand the complex role of the syndicate during this period. We consider the identity of the lender, with a focus on five major US banks that failed and their five corresponding acquirers. Our results highlight the distinct roles of investment and commercial banks and facilitate an understanding of relationship and transactional‐based lending. |
| Databáze: | OpenAIRE |
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