Information Asymmetry and Financing Arrangements: Evidence from Syndicated Loans

By Amir Sufi. 2007

1,468 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/2be5a446adf60c13f857e1270cfd9170bcde7a82

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

Citations in the corpus

Do Shareholder Rights Affect the Cost of Bank Loans (2009, neutral): “See Sufi (2005) and Ivashina (2005) for further discussions.”
Friends with Money (2012, background): “See Sufi (2007) for a detailed discussion of the syndicated loan market.”
The voluntary adoption of International Financial Reporting Standards and loan contracting around the world (2011, positive): “The syndicate loan literature (for example, Dennis and Mullineaux 2000; Qian and Strahan 2007; Sufi 2007 ) shows that fewer lenders participate in loan syndicates with borrowers with high information uncertainty, because syndicate structures with fewer lenders reduce both free rider problems in inf”
Bank Lines of Credit in Corporate Finance: An Empirical Analysis (2009, neutral): “I construct measures of information asymmetry that are consistent with measures in Faulkender and Petersen (2006) and Sufi (2006). Firms with equity that is not traded on a major exchange receive less analyst coverage and media attention.”
Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades (2016, neutral): “The lead arranger banks of each loan facility usually hold the largest share of the syndicated loans (Kroszner and Strahan 2001; Sufi 2007).”
Private Equity Syndication: Agency Costs, Reputation and Collaboration (2009, positive): “These results are in line with recent findings in the debt syndication market (Sufi, 2006).”
Industry contagion in loan spreads (2012, neutral): “7 covenants, had “corporate purposes” as the primary purpose, and were syndicated amongst multiple lending institutions (Sufi, 2007).”
A capital structure channel of monetary policy (2018, positive): “We identify lead arrangers following Sufi (2007) and Ivashina (2009).”
Family Control and Financing Decisions (2011, neutral): “17 Sufi (2007) uses credit ratings from Standard & Poor's to construct his measure of information asymmetry.”
Corporate Ownership Structure and the Choice Between Bank Debt and Public Debt (2013, positive): “While an increase in financial stake and thus credit exposure in the borrowing firm enhances banks’ incentives to exert effort in due diligence and monitoring (Sufi, 2007), it is possible that for firms with high levels of bank debt, the change in bank monitoring may not be very sensitive to the cha”
On Loan Sales, Loan Contracting, and Lending Relationships (2009, background): “In addition, loan syndication likely suffers from less severe agency problems because lead lenders can alter syndicate structure and composition to reduce adverse selection and moral hazard problems when originating the loan (Lee & Mullineaux 2004; Sufi 2005).”