Bank Balance Sheets and the Value of Lending /
We study 1,400 UK syndicated loans, together with the financial history of the lead bank and the borrowing firm. We interpret abnormal equity returns around loan announcements as the value of the lending relationship to the firm. We find that: (i) Consistent with previous evidence, the value of lend...
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2017.
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| Series: | IMF Working Papers; Working Paper ;
No. 2017/111 |
| Online Access: | Full text available on IMF |