Logo
Munich Personal RePEc Archive

Duration of loan arrangement and syndicate organization

Godlewski, Christophe (2008): Duration of loan arrangement and syndicate organization.

[thumbnail of MPRA_paper_10953.pdf]
Preview
PDF
MPRA_paper_10953.pdf

Download (192kB) | Preview

Abstract

What is the influence of syndicate organization on the duration of loan arrangement? I answer this question using the survival analysis methodology on a sample of loans from 59 countries over the 1992-2006 period. I find that syndicate size, concentration, reputation, and national diversity clearly matters for the duration of loan arrangement and therefore for borrower satisfaction regarding the speed of obtaining the necessary funding. A syndicate organization adapted to specific agency problems of syndication, with numerous, reputable, and experienced arrangers retaining a larger portion of the loan reduces the duration. The latter is also shorter when the lenders diversity in terms of nationality is weaker.

Atom RSS 1.0 RSS 2.0

Contact us: [email protected]

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.