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L’organisation des syndicats bancaires en France:taille, concentration et réputation

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  • Christophe Godlewski

    () (Université de Strasbourg (EM Strasbourg))

Abstract

(VF)Dans cet article, nous étudions les facteurs susceptibles d’influencer la structure des syndicats bancaires en France, sur la période 1998-2006, et nous proposons un modèle empirique de cette structure, mesurée par la taille, la concentration et la réputation. Nous montrons que la structure des syndicats bancaires en France est influencée à la fois par les caractéristiques du prêt, mais également de l’emprunteur. Cette structure est bien une réponse organisationnelle adaptée aux problèmes d’agence inhérents à la syndication bancaire. Par ailleurs, les motifs de diversification du risque sont également des déterminants importants de la structure des syndicats bancaires.(VA)In this article, we examine the factors that influence the structure of bank syndicates in France during the 1998-2006 period, and we propose an empirical model of this structure, measured by its size, concentration and reputation. We show that both loan and borrower characteristics influence the structure of bank syndicates in France. Their organization is a response to agency problems typically implied by loan syndication. Furthermore, risk diversification also appears to be an important determinant of the structure of bank syndicates.

Suggested Citation

  • Christophe Godlewski, 2009. "L’organisation des syndicats bancaires en France:taille, concentration et réputation," Revue Finance Contrôle Stratégie, revues.org, vol. 12(3), pages 37-63, September.
  • Handle: RePEc:dij:revfcs:v:12:y:2009:i:q3:p:37-63.
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    References listed on IDEAS

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    Cited by:

    1. Christophe Godlewski, 2012. "Are bank loans still “special” (especially during a crisis)? Empirical evidence from a European country," Working Papers of LaRGE Research Center 2012-03, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.

    More about this item

    Keywords

    prêt syndiqué; structure du syndicat; asymétrie d’information; problèmes d’agence; réputation; France; syndicated loan; syndicate structure; information asymmetry; agency problems; reputation.;

    JEL classification:

    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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