지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
오류제보하기
This paper examines how syndicate structure and risk spread affect maturity structure of international corporate loan. Syndicate structure is an organizational response to information asymmetry and the associated informational friction in the process of syndicate dealing. In a syndicated lending, the lead bank retains a fraction of the loan, but it acts as the intermediary between the borrower and the syndicate participants. Between the two competing hypotheses of this paper ? risk concentration hypothesis versus risk sharing hypothesis, all estimations support the risk concentration hypothesis. As the riskiness of borrowing firm increases, lead arrangers take more responsibility by increasing the share of the loan amounts and by decreasing the number of lead arrangers. Further, this paper provides the evidence that lending institution lengthens debt maturity as borrowing firm’s riskiness increases, supporting tradeoff hypothesis.
목차
Ⅰ. 서론
Ⅱ. 국제신디케이트 기업금융의 계약과정과 실증가설의 도출
Ⅲ. 자료 및 실증분석
Ⅳ. 결론
참고문헌
Abstract
참고문헌 (37)
참고문헌 신청
1. [학술지(정기간행물)] - Barclay, M / 1995 / The maturity structure of corporate deb / Journal of Finance 50 : 609 ~ 631
2. [학술지(정기간행물)] - Barnea, A / 1980 / A rationale for debt maturity structure and call provisions in an agency theoretic framework / Journal of Finance 35 : 1223 ~ 1234
3. [학술지(정기간행물)] - Berger, A / 1990 / Collateral, loan quality, and bank risk / Journal of Monetary Economics 25 : 21 ~ 42
4. [학술지(정기간행물)] - Bolton, P / 1996 / Optimal debt structure and the number of creditors / Journal of Political Economy 104 : 1 ~ 25
5. [보고서] - Coleman, A. / 2002 / Do bank characteristics influence loan contract terms
2. [학술지(정기간행물)] - Barnea, A / 1980 / A rationale for debt maturity structure and call provisions in an agency theoretic framework / Journal of Finance 35 : 1223 ~ 1234
3. [학술지(정기간행물)] - Berger, A / 1990 / Collateral, loan quality, and bank risk / Journal of Monetary Economics 25 : 21 ~ 42
4. [학술지(정기간행물)] - Bolton, P / 1996 / Optimal debt structure and the number of creditors / Journal of Political Economy 104 : 1 ~ 25
5. [보고서] - Coleman, A. / 2002 / Do bank characteristics influence loan contract terms
이 논문의 저자 정보
이 논문과 함께 이용한 논문
최근 본 자료
댓글(0)
0
UCI(KEPA) : I410-ECN-0101-2013-326-000658308