Recent Trends in Bank Loan Syndications: Evidence for 1995 to 1999

Topics:
Investment and Capital Markets
Tags:
Agent,
Real Estate,
Investment,
Financing,
Financial Services,
Financial Accounting,
Finance,
Business Operations,
Bank,
Regression
Source:
U.S. Department of the Treasury

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Overview: Bank loan syndications have become an increasingly popular and important way for commercial borrowers to satisfy their financing needs. The ability to overcome problems of adverse selection and moral hazard are critical to the development of this market. Using a panel data set constructed from the Shared National Credit Program over the period 1995 to 1999, this paper extends the work of Simons (1993) and Dennis and Mullineaux (2000) by estimating a multivariate cross section/ time-series regression model explaining an agent bank's retained share of a syndicated loan. The panel regression model focuses on the effect of information asymmetries, loan quality, and capital constraints on an agent bank's retained loan share.

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Format: PDF | Size: 83KB | Date: Dec 2000 | Pages: 27

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