Corporate Acquisitions and Bank Relationships
نویسندگان
چکیده
منابع مشابه
Lending Relationships and Bank Mergers and Acquisitions
Using a unique Norwegian dataset, which combines information on companies’ bank accounts, annual accounts and bank mergers and acquisitions (M&As), we find evidence that such M&As reduce credit availability and worsen borrowing terms for nontransparent firms. Since, due to information asymmetries, such firms are typically more dependent on bank lending relationships, our results indicate that t...
متن کاملUsing Bank Mergers and Acquisitions to Understand Lending Relationships
Using a unique Norwegian dataset, which combines information on companies’ bank accounts, annual accounts, bankruptcies, and bank mergers and acquisitions (M&As), we find that such M&As increase interest rate margins for nontransparent small and medium sized firms. There is little effect for more transparent companies. Since, due to information asymmetries, nontransparent firms are typically mo...
متن کاملInformation Technology and Corporate Acquisitions
I lovingly dedicate this dissertation to my wife, Yanfang Duan, who accompanied me on this long, arduous journey and freed me from every concern; to my daughter, Caroline, who brought me enormous, invaluable happiness; and to my parents for their constant, unwavering support. v Acknowledgements This dissertation would not have been possible without help and support from many established scholar...
متن کاملDo Banks Monitor Corporate Decisions? Evidence from Bank Financing of Mergers and Acquisitions
We examine whether banks, in providing financing for the deals, monitor firms mergers and acquisitions to the extent that will benefit acquirers shareholders. Inconsistent with the conventional theoretical argument, we do not find that bank-financed deals are associated with better stock or accounting performance than bond-financed deals or deals paid with internal cash. There is strong evidenc...
متن کاملThe Effects of Bank Mergers and Acquisitions on Credit Availability: Evidence from Corporate Data
A large literature on the effects of bank consolidation focuses on direct efficiency gains for participating banks and market power effects. The special nature of credit markets suggests that indirect informational effects for borrowers may be generated by bank consolidation. In particular, borrowers that depend on relationship-based lending may face a reduction in credit availability because s...
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ژورنال
عنوان ژورنال: Social Science Research Network
سال: 2021
ISSN: ['1556-5068']
DOI: https://doi.org/10.2139/ssrn.3924990