The valuation effects of bank loan ratings in the presence of multiple monitors
Author
Abstract
Suggested Citation
DOI: 10.1007/BF02752739
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Fayez Elayan & Wei Hsu & Thomas Meyer, 2003. "The informational content of credit rating announcements for share prices in a small market," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 27(3), pages 337-356, September.
- James, Christopher, 1987.
"Some evidence on the uniqueness of bank loans,"
Journal of Financial Economics, Elsevier, vol. 19(2), pages 217-235, December.
- Christopher M. James, 1986. "Some evidence on the uniqueness of bank loans," Proceedings, Federal Reserve Bank of San Francisco.
- Campbell, Tim S & Kracaw, William A, 1980. "Information Production, Market Signalling, and the Theory of Financial Intermediation," Journal of Finance, American Finance Association, vol. 35(4), pages 863-882, September.
- Diamond, Douglas W, 1991. "Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 689-721, August.
- Hsueh, L. Paul & Liu, Y. Angela, 1992. "Market anticipation and the effect of bond rating changes on common stock prices," Journal of Business Research, Elsevier, vol. 24(3), pages 225-239, May.
- Best, Ronald & Zhang, Hang, 1993. "Alternative Information," Journal of Finance, American Finance Association, vol. 48(4), pages 1507-1522, September.
- Hand, John R M & Holthausen, Robert W & Leftwich, Richard W, 1992. "The Effect of Bond Rating Agency Announcements on Bond and Stock Prices," Journal of Finance, American Finance Association, vol. 47(2), pages 733-752, June.
- Roger D. Stover, 1996. "Third-Party Certification in New Issues of Corporate Tax-Exempt Bonds: Standby Letter of Credit and Bond Rating Interaction," Financial Management, Financial Management Association, vol. 25(1), Spring.
- Rajan, Raghuram & Winton, Andrew, 1995. "Covenants and Collateral as Incentives to Monitor," Journal of Finance, American Finance Association, vol. 50(4), pages 1113-1146, September.
- Kanatas, George, 1987. "Commercial paper, bank reserve requirements, and the informational role of loan commitments," Journal of Banking & Finance, Elsevier, vol. 11(3), pages 425-448, September.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Wei‐Huei Hsu & Abdullah Mamun & Lawrence C. Rose, 2010. "Lead bank quality and adverse rating announcements," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 27(4), pages 340-357, October.
- Yuriy Zabolotnyuk, 2018. "Wealth Effects of Bond Rating Announcements," Multinational Finance Journal, Multinational Finance Journal, vol. 22(3-4), pages 211-254, September.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Wei‐Huei Hsu & Abdullah Mamun & Lawrence C. Rose, 2010. "Lead bank quality and adverse rating announcements," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 27(4), pages 340-357, October.
- Gorton, Gary & Winton, Andrew, 2003.
"Financial intermediation,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 8, pages 431-552,
Elsevier.
- Gary Gorton & Andrew Winton, 2002. "Financial Intermediation," NBER Working Papers 8928, National Bureau of Economic Research, Inc.
- Gary Gorton & Andrew Winton, 2002. "Financial Intermediation," Center for Financial Institutions Working Papers 02-28, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Charles J. Hadlock & Christopher M. James, 2002. "Do Banks Provide Financial Slack?," Journal of Finance, American Finance Association, vol. 57(3), pages 1383-1419, June.
- Joshua D. Rauh & Amir Sufi, 2010.
"Capital Structure and Debt Structure,"
The Review of Financial Studies, Society for Financial Studies, vol. 23(12), pages 4242-4280, December.
- Joshua D. Rauh & Amir Sufi, 2008. "Capital Structure and Debt Structure," NBER Working Papers 14488, National Bureau of Economic Research, Inc.
- Christophe J. Godlewski & Bulat Sanditov, 2018.
"Financial Institutions Network and the Certification Value of Bank Loans,"
Financial Management, Financial Management Association International, vol. 47(2), pages 253-283, June.
- Christophe J. GODLEWSKI & Bulat SANDITOV, 2015. "Financial institution network and the certification value of bank loans," Working Papers of LaRGE Research Center 2015-02, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
- Christophe J. Godlewski & Bulat Sanditov, 2015. "Financial institution network and the certification value of bank loans," Grenoble Ecole de Management (Post-Print) hal-01273250, HAL.
- Christophe J. Godlewski & Bulat Sanditov, 2018. "Financial institutions network and the certification value of bank loans," Post-Print hal-01858919, HAL.
- Christophe J. Godlewski & Bulat Sanditov, 2015. "Financial institution network and the certification value of bank loans," Grenoble Ecole de Management (Post-Print) hal-01273226, HAL.
- Christophe J. Godlewski & Bulat Sanditov, 2015. "Financial institution network and the certification value of bank loans," Post-Print hal-01273250, HAL.
- Christophe J. Godlewski & Bulat Sanditov, 2015. "Financial institution network and the certification value of bank loans," Post-Print hal-01273237, HAL.
- Christophe J. Godlewski & Bulat Sanditov, 2015. "Financial institution network and the certification value of bank loans," Grenoble Ecole de Management (Post-Print) hal-01273237, HAL.
- Christophe J. Godlewski & Bulat Sanditov, 2015. "Financial institution network and the certification value of bank loans," Post-Print hal-01273226, HAL.
- Uday Chandra & Nandkumar (Nandu) Nayar, 2008. "The Information Content of Private Debt Placements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 35(9‐10), pages 1164-1195, November.
- Sherrill Shaffer & Tatyana Sokolyk, 2013. "Bank Loans to Newly Public Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 16(2), pages 33-56, Spring.
- Brick, Ivan E. & Palia, Darius, 2007. "Evidence of jointness in the terms of relationship lending," Journal of Financial Intermediation, Elsevier, vol. 16(3), pages 452-476, July.
- Chiou, Chyi-Lun & Shu, Pei-Gi, 2017. "Overvaluation and the cost of bank debt," International Review of Economics & Finance, Elsevier, vol. 48(C), pages 235-254.
- N. Berger, Allen & F. Udell, Gregory, 1998.
"The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle,"
Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 613-673, August.
- Allen N. Berger & Gregory F. Udell, 1998. "The economics of small business finance: the roles of private equity and debt markets in the financial growth cycle," Finance and Economics Discussion Series 1998-15, Board of Governors of the Federal Reserve System (U.S.).
- João Santos, 1998.
"Commercial Banks in the Securities Business: A Review,"
Journal of Financial Services Research, Springer;Western Finance Association, vol. 14(1), pages 35-60, July.
- João A. C. Santos, 1996. "Commercial banks in the securities business: a review," Working Papers (Old Series) 9610, Federal Reserve Bank of Cleveland.
- João A. C. Santos, 1998. "Commercial banks in the securities business: A review," BIS Working Papers 56, Bank for International Settlements.
- Uday Chandra & Nandkumar (Nandu) Nayar, 2008. "The Information Content of Private Debt Placements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 35(9-10), pages 1164-1195.
- Laurent Vilanova, 2002. "L'impact des effets de réputation sur l'incitation des banques à soutenir des entreprises non viables," Post-Print halshs-00467735, HAL.
- Arun Gupta & Horacio Sapriza, 2022. "Do Costly Internal Equity Injections Reveal Bank Expectations about Post-Crisis Real Outcomes?," Working Paper 23-03, Federal Reserve Bank of Richmond.
- Steven Ongena & Viorel Roşcovan & Wei-Ling Song & Bas J.M. Werker, 2014. "Banks and Bonds: The Impact of Bank Loan Announcements on Bond and Equity Prices," Journal of Financial Management, Markets and Institutions, Società editrice il Mulino, issue 2, pages 131-156, December.
- Kang, Jun-Koo & Liu, Wei-Lin, 2008. "Bank incentives and suboptimal lending decisions: Evidence from the valuation effect of bank loan announcements in Japan," Journal of Banking & Finance, Elsevier, vol. 32(6), pages 915-929, June.
- Jean-Daniel Guigou & Laurent Vilanova, 1999. "Les vertus du financement bancaire: fondements et limites," Revue Finance Contrôle Stratégie, revues.org, vol. 2(2), pages 97-133, June.
- Allen N. Berger & Gregory F. Udell, 1994.
"Lines of credit and relationship lending in small firm finance,"
Proceedings
52, Federal Reserve Bank of Chicago.
- Allen N. Berger & Gregory E. Udell, 1994. "Lines of Credit and Relationship Lending in Small Firm Finance," Economics Working Paper Archive wp_113, Levy Economics Institute.
- Allen Berger & Gregory Udell, 1994. "Lines of Credit and Relationship Lending in Small Firm Finance," Center for Financial Institutions Working Papers 94-11, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Allen N. Berger & Gregory F. Udell, 1999. "Lines of Credit and Relationship Lending in Small Firm Finance," Macroeconomics 9906006, University Library of Munich, Germany.
- Bharath, Sreedhar & Dahiya, Sandeep & Saunders, Anthony & Srinivasan, Anand, 2007. "So what do I get? The bank's view of lending relationships," Journal of Financial Economics, Elsevier, vol. 85(2), pages 368-419, August.
- Cai, Jun & Cheung, Yan-Leung & Goyal, Vidhan K., 1999. "Bank monitoring and the maturity structure of Japanese corporate debt issues," Pacific-Basin Finance Journal, Elsevier, vol. 7(3-4), pages 229-249, August.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:jecfin:v:30:y:2006:i:3:p:325-346. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.