Are Banks Still Special When There Is a Secondary Market for Loans

By A. Gande, Anthony Saunders. 2012

160 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/278ca30f1173ab79d88e575bacccb3ff7400c95c

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Citations in the corpus

Price Discovery and Dissemination of Private Information by Loan Syndicate Participants (2010, background): “7 The extent literature on secondary loan trading includes Allen, Guo and Weintrop (2004), Altman, Gande and Saunders (2008) and Wittenberg-Moerman (2008a), among others.”
Moral hazard and adverse selection in the originate-to-distribute model of bank credit (2009, background): “The positive effects include a lower cost of capital (Gupta, Singh, and Zebedee (2008)), increased access to debt capital (Drucker and Puri (2008)), and information effects (Gande and Saunders (2008)).”
Originate-to-Distribute Model and the Subprime Mortgage Crisis (2011, background): “…increased private debt availability.5 It’s 5See also Ashcraft and Santos (2008) for a study on the costs and benefits of credit default swaps and Gande and Saunders (2007) for the effect of secondary loan sales market on the bank-specialness. also worth pointing out that the role of other…”
The Pricing Effect of Certification on Syndicated Loans (2008, unknown): “Quite an abundant literature has shown that borrowers’ stock prices react positively to loan announcements (see, among many, James, 1987; Slovin et al., 1993; Best and Zhang, 1993; Lummer and McConnel, 1992; Billet et al., 1995; Gande and Saunders, 2006).”
On Loan Sales, Loan Contracting, and Lending Relationships (2009, background): “While restrictive covenants may help loan selling, they can impose costs on borrowers due to reduced flexibility.”