Does Concentrated Arranger Structure in US Syndicated Loan Markets Benefit Large Firms?

2007 ◽  
Author(s):  
Alper Kara ◽  
Yener Altunbas
Keyword(s):  
Large Firms ◽  
Syndicated Loan ◽  
Loan Markets

Comparison of Syndicated Loan Markets with Bond Markets

2006 ◽  
pp. 126-161
Author(s):  
Yener Altunbaş ◽  
Blaise Gadanecz ◽  
Alper Kara
Keyword(s):  
Bond Markets ◽  
Syndicated Loan ◽  
Loan Markets

Foreign banks in syndicated loan markets

2011 ◽  
Vol 35 (10) ◽  
pp. 2679-2689 ◽  
Author(s):  
Rainer Haselmann ◽  
Paul Wachtel
Keyword(s):  
Foreign Banks ◽  
Syndicated Loan ◽  
Loan Markets

Hedging and choice of currency denomination in international syndicated loan markets

2007 ◽  
Vol 15 (2) ◽  
pp. 195-212 ◽  
Author(s):  
Neil Esho ◽  
Ian G. Sharpe ◽  
Kristian H. Webster
Keyword(s):  
Syndicated Loan ◽  
Loan Markets

The evolution of syndicated loan markets

2006 ◽  
Vol 26 (6) ◽  
pp. 689-707 ◽  
Author(s):  
Yener Altunbaş ◽  
Blaise Gadanecz ◽  
Alper Kara
Keyword(s):  
Syndicated Loan ◽  
Loan Markets

The impact of formality on firm profitability in Bolivia: an heterogeneous assessment

2012 ◽  
pp. 53-74
Author(s):  
Darwin Ugarte Ontiveros
Keyword(s):  
Empirical Literature ◽  
Large Firms ◽  
Marginal Effects ◽  
Heterogeneous Effects ◽  
Firm Profitability ◽  
The Impact ◽  
Formal Status

Recent evidence suggests that formality improves micro-firms profits in Bolivia. This gain is only for firms with 2 to 5 workers, while smaller and larger firms would lose out by formalizing (McKenzie and Sakho, 2010). However, as much of the empirical literature on this topic, the estimations are based on strong assumptions about unobservables. If the returns to formality vary among firms and these variations influence selection into formality, traditional estimators are biased (Heckman and Vytlacil, 2007). In this paper we considerthese elements to estimate the heterogeneous effects of formality on firm profits in Bolivia. We find remarkable heterogeneity in the returns to formality, from -3% to 6%. The group of firms with positive marginal effects from formality corresponds to those which are most likely to register. We also characterize the firms that likely benefit from having a formal status. These would correspond to large firms which work at big scales.

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