Bank skin in the game and loan contract design: Evidence from covenant-lite loans
In a model of dual-agency problems where borrower–lender and bank–nonbank incentives
may conflict, we predict a hockey stick relation between bank skin in the game and covenant …
may conflict, we predict a hockey stick relation between bank skin in the game and covenant …
Capital flow freezes
The period following the 2008 financial crisis focused attention on “twin-crises,” where
banking crises precipitate sovereign crises due to increased bank support. We show that …
banking crises precipitate sovereign crises due to increased bank support. We show that …
Information spillovers and cross monitoring between the stock market and loan market
We explore information spillovers and cross monitoring between the stock and loan markets
around Regulation SHO. Our setting directly affects information production and monitoring in …
around Regulation SHO. Our setting directly affects information production and monitoring in …
Should companies care who their lender is? Evidence from loan covenants
D Kang, Z Zhuang - Pacific-Basin Finance Journal, 2019 - Elsevier
Non-bank lenders are an increasingly important part of the syndicated loan market,
particularly for riskier borrowers who require intensive monitoring. Interestingly, when non …
particularly for riskier borrowers who require intensive monitoring. Interestingly, when non …