The Effect of Information Asymmetries Among Lenders on Syndicated Loan Spreads

2009 ◽  
Author(s):  
Alper Kara
Keyword(s):  
Information Asymmetries ◽  
Syndicated Loan ◽  
Loan Spreads

scholarly journals Syndicated loan spreads and the composition of the syndicate

2014 ◽  
Vol 111 (1) ◽  
pp. 45-69 ◽  
Author(s):  
Jongha Lim ◽  
Bernadette A. Minton ◽  
Michael S. Weisbach
Keyword(s):  
Syndicated Loan ◽  
Loan Spreads

scholarly journals Syndicated Loan Spreads and the Composition of the Syndicate

2012 ◽  
Author(s):  
Jongha Lim ◽  
Bernadette Minton ◽  
Michael Weisbach
Keyword(s):  
Syndicated Loan ◽  
Loan Spreads

scholarly journals Do CSR Ratings Affect Loan Spreads? Evidence from European Syndicated Loan Market

2020 ◽  
Vol 12 (18) ◽  
pp. 7639
Author(s):  
Danilo Drago ◽  
Concetta Carnevale
Keyword(s):  
Ordinary Least Squares ◽  
Cost Of Debt ◽  
Empirical Literature ◽  
The European Union ◽  
Listed Firms ◽  
Syndicated Loan Market ◽  
Syndicated Loan ◽  
Loan Spreads ◽  
Corporate Social ◽  
The Relationship

We investigate whether corporate social responsibility (CSR) ratings affect the syndicated loan spreads paid by European listed firms. By performing ordinary least squares (OLS) pooled regressions on a sample of 1101 syndicated loans granted to European companies, we find evidence that borrowers’ CSR ratings have a significant impact on loan spreads. However, the relationship between CSR ratings and loan spreads is quite complex. Low CSR-rated firms pay higher loan spreads than better CSR-rated firms, but high CSR ratings are not always rewarded by lenders. The benefits of a high CSR rating level are significant only for firms located in countries that pay great attention to sustainability issues. Overall, our work provides a key to reconciling the mixed results obtained in the empirical literature, as we find evidence of a significant lack of homogeneity within the European Union countries regarding the relationship between CSR performance and the cost of debt financing.

scholarly journals Syndicated Loan Spreads and the Composition of the Syndicate

2012 ◽  
Author(s):  
Jongha Lim ◽  
Bernadette A. Minton ◽  
Michael S. Weisbach
Keyword(s):  
Syndicated Loan ◽  
Loan Spreads
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