Customer Concentration and Loan Contract Terms

By Murillo Campello, Janet Gao. 2017

474 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/b3820d82b2fc62dded9480627a817a9d72a7201c

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Citations in the corpus

Customer concentration and stock price crash risk (2020, background): “Campello and Gao (2017) find a positive association between customer concentration and suppliers' loans with higher interest rate spreads, more restrictive covenants, and shorter maturities.”
Climate Change and Adaptation in Global Supply-Chain Networks (2019, methodology): “Following the literature (e.g. Kale and Shahrur, 2007; Banerjee et al., 2008; Barrot and Sauvagnat, 2016; Campello and Gao, 2017; Cen, Maydew, Zhang, and Zuo, 2017; Phua, Tham, and Wei, 2018), we collapse our supplier-customer panel at the”
Policy uncertainty and loan loss provisions in the banking industry (2020, unknown): “Conversely, customer concentration increases industrial companies’ risk and cost of capital (Dhaliwal et al., 2016; Campello and Gao, 2017), while loan type concentration increases the probability of bank failure (Ng and Roychowdhury, 2014).”
Customer‐Base Concentration and Inventory Efficiencies: Evidence from the Manufacturing Sector (2016, background): “Our evidence of a valuation premium for more concentrated manufacturers is related to recent research on the implications of major customer dependency for cost of capital, default risk, and ﬁrm valuation (e.g., Campello and Gao 2014, Cen et al. 2015, Dhali-wal et al. 2015, Osadchiy et al. 2015).”
The effect of major customer concentration on firm profitability: competitive or collaborative? (2018, unknown): “Similarly, Campello and Gao (2017) find that customer concentration increases interest rate spreads and the number of restrictive covenants in bank loans.”
The differential impact of leverage on the default risk of small and large firms (2020, background): “A possible explanation for the differential impact of leverage on firms of different size may be offered by the findings in Campello and Gao (2017). The authors observe that firms with higher customer concentration face relatively higher interest rate spreads and/or more restrictive covenants in ban”