학회소식
[2003년 제 4차] THE SIZE OF LENDING SYNDICATES:EVIDENCE FROM KOREAN
작성자 : 관리자
조회수 : 985
게시일 :
2003-10-13
I examine the factors that affect the size of a commercial lending syndicate using a sample of Korean firms during 1992-2000. My most surprising result is that, given the size of a loan, syndicates are larger when the size of the borrowing firms are smaller. This finding is robust to different specifications. I also find that syndicates are larger when potential financial distress is more likely, and when the borrower holds small growth options. Syndicates are larger when the borrowing Korean firm is more reputable and when they are more profitable.
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