DC Field | Value | Language |
---|---|---|
dc.contributor.author | Lee, SW | ko |
dc.contributor.author | Kwag, SW | ko |
dc.contributor.author | Mullineaux, DJ | ko |
dc.contributor.author | Park, Kwangwoo | ko |
dc.date.accessioned | 2011-01-10T08:51:39Z | - |
dc.date.available | 2011-01-10T08:51:39Z | - |
dc.date.created | 2012-02-06 | - |
dc.date.created | 2012-02-06 | - |
dc.date.issued | 2010-06 | - |
dc.identifier.citation | FINANCE RESEARCH LETTERS, v.7, no.2, pp.119 - 126 | - |
dc.identifier.issn | 1544-6123 | - |
dc.identifier.uri | http://hdl.handle.net/10203/21509 | - |
dc.description.abstract | This paper examines how borrower firm characteristics affect syndicate size structure in the Japanese loan market for the 1999-2003 period when the banking system is undergoing a major consolidation. We find that syndicates are smaller when borrowers have higher credit risk and when borrowers present larger information asymmetries to the lending group. Interestingly, however, these results are primarily driven by keiretsu (business group) firms. This suggests that the benefits of enhanced monitoring and superior renegotiation prospects are especially useful for banks participating in syndicated loans to Keiretsu firms in Japan rather than informationally opaque, independent firms. (C) 2010 Elsevier Inc. All rights reserved. | - |
dc.description.sponsorship | The authors are grateful to the editor, a co-editor, and an anonymous referee for useful comments and suggestions. We are responsible for all remaining errors. This research was supported by the Kyung Hee University Research Fund in 2008 (KHU-20080561). | en |
dc.language | English | - |
dc.language.iso | en_US | en |
dc.publisher | ACADEMIC PRESS INC ELSEVIER SCIENCE | - |
dc.subject | LENDING RELATIONSHIPS | - |
dc.subject | CORPORATE-DEBT | - |
dc.subject | LOANS | - |
dc.subject | DETERMINANTS | - |
dc.subject | BANKS | - |
dc.title | Financial distress, information asymmetry, and syndicate structure: Evidence from Japanese borrowers | - |
dc.type | Article | - |
dc.identifier.wosid | 000277821700007 | - |
dc.identifier.scopusid | 2-s2.0-77951622104 | - |
dc.type.rims | ART | - |
dc.citation.volume | 7 | - |
dc.citation.issue | 2 | - |
dc.citation.beginningpage | 119 | - |
dc.citation.endingpage | 126 | - |
dc.citation.publicationname | FINANCE RESEARCH LETTERS | - |
dc.identifier.doi | 10.1016/j.frl.2010.02.001 | - |
dc.embargo.liftdate | 9999-12-31 | - |
dc.embargo.terms | 9999-12-31 | - |
dc.contributor.localauthor | Park, Kwangwoo | - |
dc.contributor.nonIdAuthor | Lee, SW | - |
dc.contributor.nonIdAuthor | Kwag, SW | - |
dc.contributor.nonIdAuthor | Mullineaux, DJ | - |
dc.description.isOpenAccess | N | - |
dc.type.journalArticle | Article | - |
dc.subject.keywordAuthor | Financial distress | - |
dc.subject.keywordAuthor | Information asymmetry | - |
dc.subject.keywordAuthor | Syndicated loan | - |
dc.subject.keywordAuthor | Main bank | - |
dc.subject.keywordAuthor | Keiretsu | - |
dc.subject.keywordPlus | LENDING RELATIONSHIPS | - |
dc.subject.keywordPlus | CORPORATE-DEBT | - |
dc.subject.keywordPlus | LOANS | - |
dc.subject.keywordPlus | DETERMINANTS | - |
dc.subject.keywordPlus | BANKS | - |
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