메뉴 건너뛰기




Volumn 42, Issue 2, 2007, Pages 227-245

The agency structure of loan syndicates

Author keywords

Bank specialization; Co agents; G21; Loan syndication; Monitoring

Indexed keywords


EID: 40749142212     PISSN: 07328516     EISSN: 15406288     Source Type: Journal    
DOI: 10.1111/j.1540-6288.2007.00169.x     Document Type: Article
Times cited : (28)

References (37)
  • 1
    • 0000589044 scopus 로고
    • Production, information costs, and economic organization
    • Alchian, A.A., and H. Demsetz., 1972. Production, information costs, and economic organization, American Economic Review 62, 777-795.
    • (1972) American Economic Review , vol.62 , pp. 777-795
    • Alchian, A.A.1    Demsetz, H.2
  • 2
    • 0000917715 scopus 로고    scopus 로고
    • Default rates in the syndicated bank loan market: A mortality analysis
    • Altman, E., and H. Suggitt., 2000. Default rates in the syndicated bank loan market: A mortality analysis, Journal of Banking and Finance 24, 229-253.
    • (2000) Journal of Banking and Finance , vol.24 , pp. 229-253
    • Altman, E.1    Suggitt, H.2
  • 3
    • 0009752224 scopus 로고    scopus 로고
    • Credit spreads in the market for highly leveraged transaction loans
    • Angbazo, L., J. Mei., and A. Saunders., 1998. Credit spreads in the market for highly leveraged transaction loans, Journal of Banking and Finance 22, 1249-1282.
    • (1998) Journal of Banking and Finance , vol.22 , pp. 1249-1282
    • Angbazo, L.1    Mei, J.2    Saunders, A.3
  • 4
    • 84993839692 scopus 로고
    • The maturity structure of corporate debt
    • Barclay, M.J., and C.W. Smith., 1995. The maturity structure of corporate debt, Journal of Finance 50, 609-631.
    • (1995) Journal of Finance , vol.50 , pp. 609-631
    • Barclay, M.J.1    Smith, C.W.2
  • 5
    • 84960577852 scopus 로고
    • Short-term versus long-term interests: Capital structure with multiple investors
    • Berglöf, E., and E.-L Von Thadden., 1994. Short-term versus long-term interests: Capital structure with multiple investors, Quarterly Journal of Economics 109, 1055-1084.
    • (1994) Quarterly Journal of Economics , vol.109 , pp. 1055-1084
    • Berglöf, E.1    Von Thadden, E.-L.2
  • 12
    • 0036026432 scopus 로고    scopus 로고
    • Large-sample evidence on the debt covenant hypothesis
    • Dichev, I.D., and D.J. Skinner., 2002. Large-sample evidence on the debt covenant hypothesis, Journal of Accounting Research 40, 1091-1124.
    • (2002) Journal of Accounting Research , vol.40 , pp. 1091-1124
    • Dichev, I.D.1    Skinner, D.J.2
  • 13
    • 0037346716 scopus 로고    scopus 로고
    • Creditor rights, enforcement, and debt ownership structure: Evidence from the global syndicated loan market
    • Esty, B.C., and W.L. Megginson., 2003. Creditor rights, enforcement, and debt ownership structure: Evidence from the global syndicated loan market, Journal of Financial and Quantitative Analysis 38, 37-59.
    • (2003) Journal of Financial and Quantitative Analysis , vol.38 , pp. 37-59
    • Esty, B.C.1    Megginson, W.L.2
  • 15
    • 20444452126 scopus 로고    scopus 로고
    • Market discipline of bank risk: Evidence from subordinated debt contracts
    • Goyal, V.K., 2005. Market discipline of bank risk: Evidence from subordinated debt contracts, Journal of Financial Intermediation 14, 318-350.
    • (2005) Journal of Financial Intermediation , vol.14 , pp. 318-350
    • Goyal, V.K.1
  • 16
    • 0039470461 scopus 로고    scopus 로고
    • The determinants of the maturity of corporate debt issues
    • Guedes, J.C., and T.C. Opler., 1996. The determinants of the maturity of corporate debt issues, Journal of Finance 51, 1809-1833.
    • (1996) Journal of Finance , vol.51 , pp. 1809-1833
    • Guedes, J.C.1    Opler, T.C.2
  • 17
    • 2642512164 scopus 로고    scopus 로고
    • The effect of capital structure when expected agency costs are extreme
    • Harvey, C.R., K.V. Lins., and A.H. Roper., 2004. The effect of capital structure when expected agency costs are extreme, Journal of Financial Economics 74, 3-30.
    • (2004) Journal of Financial Economics , vol.74 , pp. 3-30
    • Harvey, C.R.1    Lins, K.V.2    Roper, A.H.3
  • 19
    • 0037266668 scopus 로고    scopus 로고
    • Debt maturity and the effects of growth opportunities and liquidity risk on leverage
    • Johnson, S.A., 2003. Debt maturity and the effects of growth opportunities and liquidity risk on leverage, Review of Financial Studies 16, 209-236.
    • (2003) Review of Financial Studies , vol.16 , pp. 209-236
    • Johnson, S.A.1
  • 21
    • 6344278611 scopus 로고    scopus 로고
    • Monitoring, financial distress, and the structure of commercial lending syndicates
    • Lee, S.W., and D.J. Mullineaux., 2004. Monitoring, financial distress, and the structure of commercial lending syndicates, Financial Management 33, 107-130.
    • (2004) Financial Management , vol.33 , pp. 107-130
    • Lee, S.W.1    Mullineaux, D.J.2
  • 22
    • 0036294867 scopus 로고    scopus 로고
    • Competition and efficiency in the Spanish banking sector: The importance of specialization
    • Maudos, J., J.M. Pastor., and F. Perez., 2002. Competition and efficiency in the Spanish banking sector: The importance of specialization, Applied Financial Economics 12, 505-526.
    • (2002) Applied Financial Economics , vol.12 , pp. 505-526
    • Maudos, J.1    Pastor, J.M.2    Perez, F.3
  • 24
    • 0041834701 scopus 로고    scopus 로고
    • Productivity growth in large US commercial banks: The initial post-deregulation experience
    • Mukherjee, K., S.C. Ray., and S.M. Miller., 2001. Productivity growth in large US commercial banks: The initial post-deregulation experience, Journal of Banking and Finance 25, 913-940.
    • (2001) Journal of Banking and Finance , vol.25 , pp. 913-940
    • Mukherjee, K.1    Ray, S.C.2    Miller, S.M.3
  • 25
    • 49449125071 scopus 로고
    • Determinants of corporate borrowing
    • Myers, S.C., 1977. Determinants of corporate borrowing, Journal of Financial Economics 5, 147-175.
    • (1977) Journal of Financial Economics , vol.5 , pp. 147-175
    • Myers, S.C.1
  • 27
    • 0037234544 scopus 로고    scopus 로고
    • Determinants of contractual relations between shareholders and bondholders: Investment opportunities and restrictive covenants
    • Nash, R.C., J.M. Netter., and A.B. Poulsen., 2003. Determinants of contractual relations between shareholders and bondholders: Investment opportunities and restrictive covenants, Journal of Corporate Finance 9, 201-232.
    • (2003) Journal of Corporate Finance , vol.9 , pp. 201-232
    • Nash, R.C.1    Netter, J.M.2    Poulsen, A.B.3
  • 29
    • 0039739780 scopus 로고    scopus 로고
    • A theory of the syndicate: Form follows function
    • Pichler, P., and W.J. Wilhelm., 2001. A theory of the syndicate: Form follows function, Journal of Finance 56, 2237-2264.
    • (2001) Journal of Finance , vol.56 , pp. 2237-2264
    • Pichler, P.1    Wilhelm, W.J.2
  • 30
    • 21144481396 scopus 로고
    • Why do banks syndicate loans?
    • (January)
    • Simons, K., 1993. Why do banks syndicate loans? New England Economic Review (January), 45-52.
    • (1993) New England Economic Review , pp. 45-52
    • Simons, K.1
  • 32
    • 6344257168 scopus 로고    scopus 로고
    • Competition and coalition among underwriters: The decision to join a syndicate
    • Song, W., 2004. Competition and coalition among underwriters: The decision to join a syndicate, Journal of Finance 59, 2421-2444.
    • (2004) Journal of Finance , vol.59 , pp. 2421-2444
    • Song, W.1
  • 33
    • 0001759993 scopus 로고    scopus 로고
    • Delegation of monitoring in a principal-agent relationship
    • Strausz, R., 1997. Delegation of monitoring in a principal-agent relationship, Review of Economic Studies 64, 337-357.
    • (1997) Review of Economic Studies , vol.64 , pp. 337-357
    • Strausz, R.1
  • 34
    • 33947301769 scopus 로고    scopus 로고
    • Information asymmetry and financing arrangements: Evidence from syndicated loans
    • Sufi, A., 2007. Information asymmetry and financing arrangements: Evidence from syndicated loans, Journal of Finance 62, 629-668.
    • (2007) Journal of Finance , vol.62 , pp. 629-668
    • Sufi, A.1
  • 35
    • 4043063710 scopus 로고    scopus 로고
    • Bondholder-stockholder conflict: Contractual covenants vs. court-mediated ex-post settling-up
    • Viswanath, P.V., and W. Eastman., 2003. Bondholder-stockholder conflict: Contractual covenants vs. court-mediated ex-post settling-up, Review of Quantitative Finance and Accounting 21, 157-177.
    • (2003) Review of Quantitative Finance and Accounting , vol.21 , pp. 157-177
    • Viswanath, P.V.1    Eastman, W.2
  • 36
    • 0000095552 scopus 로고
    • A heteroskedasticity-constant covariance matrix estimator and a direct test for heteroskedasticity
    • White, H., 1980. A heteroskedasticity-constant covariance matrix estimator and a direct test for heteroskedasticity, Econometrica 48, 817-838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1
  • 37
    • 0000112188 scopus 로고
    • The theory of syndicates
    • Wilson, R.B., 1968. The theory of syndicates, Econometrica 36, 119-132.
    • (1968) Econometrica , vol.36 , pp. 119-132
    • Wilson, R.B.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.