Does Poor Performance Damage the Reputation of Financial Intermediaries? Evidence from the Loan Syndication Market

We investigate the effect of poor performance on financial intermediary reputation by estimating the effect of large-scale bankruptcies among a lead arranger's borrowers on its subsequent syndication activity. Consistent with reputation damage, such lead arrangers retain larger fractions of the...

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Bibliographic Details
Published in:The Journal of finance (New York) 2011-12, Vol.66 (6), p.2083-2120
Main Authors: GOPALAN, RADHAKRISHNAN, NANDA, VIKRAM, YERRAMILLI, VIJAY
Format: Article
Language:English
Subjects:
Bank loans
Bankruptcy
Borrowing
Broadcast syndication
Chapter 11 bankruptcy
Clinical assessment
Financial intermediaries
Financial services
Financial services industries
Finanzintermediation
Insolvenz
Konsortialkredit
Kreditgeschäft
Kreditrisiko
Lenders
Loans
Participating loans
Portfolio management
Reputation
Reputations
Schätzung
Studies
Syndicates
USA
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