- 期刊
Corporate Loan Spreads, Market Power, and the Default-free Rate
並列摘要
The main purpose of this paper is to determine whether lenders influence prices through increasing loan spreads as the default-free rate decreases, exploiting borrowers' rate relief. The Loan Pricing Corporation DealScan database is employed to create large samples of revolving and term loans for empirical study. Both revolving and term loans sample data are independently estimated by using techniques that overcome simultaneous equation bias. We find evidence to support the contention that lenders of revolving loans influence loan spreads through increasing commitment fees as the default-free rate decreases. We do not find any evidence that lenders of term loans influence loan spreads.
參考文獻
Allen, L., & Peristiani, S. (2004). Conflicts of interest in merger advisory services. Working paper, Baruch College, New York
Berger, A. N.,Hannan, T. H.(1989).The price-concentration relationship in banking.The Review of Economics and Statistics.71,291-299.
Berger, A. N.,Udell, G. F.(1990).Collateral, loan quality and bank risk.Journal of Monetary Economics.25,21-42.
Berger, A. N.,Udell, G. F.(1995).Relationship lending and lines of credit in small firm finance.Journal of Business.68,351-381.
Carey, M.,Post, M.,Sharpe, S. A.(1998).Does corporate lending by banks and finance companies differ? Evidence on specialization in private debt contracting.Journal of Finance.53,845-878.
被引用紀錄
Yeh, Y. C. (2005). 情慾、書寫與救贖：亨利˙米勒《殉色三部曲》中的僭越與自我追尋 [master's thesis, Tamkang University]. Airiti Library. https://doi.org/10.6846/TKU.2005.00779
Chien, C. H. (2013). 通用盲量子計算的分散式架構與容錯 [doctoral dissertation, National Taiwan University]. Airiti Library. https://doi.org/10.6342/NTU.2013.03042
Chern, J. (2013). 利用散彈槍蛋白質體分析法尋找並鑑定大腸桿菌K-12 Lon蛋白酵素之受質 [master's thesis, National Taiwan University]. Airiti Library. https://doi.org/10.6342/NTU.2013.00544
余政飛（2000）。Terfenadine誘發人類癌細胞G0/G1週期停滯與凋亡之分子機制探討〔碩士論文，臺北醫學大學〕。華藝線上圖書館。https://www.airitilibrary.com/Article/Detail?DocID=U0007-1704200714352641
延伸閱讀
- Huang, T. L. (2007). Corporate Diversification and Credit Risk [master's thesis, National Taiwan University]. Airiti Library. https://doi.org/10.6342/NTU.2007.00909
- Wang, M. C., Chen, S. S., & Chiang, J. M. (2017). Rationality of the personal loan interest-rate markups of banks. 交大管理學報, 37(1), 115-163. https://www.airitilibrary.com/Article/Detail?DocID=10287310-201706-201707180005-201707180005-115-163
- Lee, Y. J., & Shen, C. H. H. (2016). Inside Debt and Corporate Financing Decisions. 財務金融學刊, 24(2), 1-23. https://doi.org/10.6545/JFS.2016.24(2).1
- Chen, Y. W. (2022). Corporate Finance, Liquidity, and Monetary Policy [doctoral dissertation, National Taiwan University]. Airiti Library. https://doi.org/10.6342/NTU202203228
- 顏菀平（2012）。Personal Taxes, Market Liquidity and Corporate Bond Credit Spreads〔碩士論文，國立中央大學〕。華藝線上圖書館。https://www.airitilibrary.com/Article/Detail?DocID=U0031-1903201314454829