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Bank Systemic Risk-Taking and Loan Pricing : Evidence from Syndicated Loans

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  • Gong, D.

    (Tilburg University, Center For Economic Research)

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  • Gong, D., 2014. "Bank Systemic Risk-Taking and Loan Pricing : Evidence from Syndicated Loans," Discussion Paper 2014-046, Tilburg University, Center for Economic Research.
    • Handle: RePEc:tiu:tiucen:5f066f24-3d9c-40dd-aaa5-2b16f9b75bd5
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    References listed on IDEAS

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    1. Acharya, Viral V., 2009. "A theory of systemic risk and design of prudential bank regulation," Journal of Financial Stability, Elsevier, vol. 5(3), pages 224-255, September.
    2. Bo Becker & Victoria Ivashina, 2015. "Reaching for Yield in the Bond Market," Journal of Finance, American Finance Association, vol. 70(5), pages 1863-1902, October.
    3. Reint Gropp & Christian Gruendl & Andre Guettler, 2014. "The Impact of Public Guarantees on Bank Risk-Taking: Evidence from a Natural Experiment," Review of Finance, European Finance Association, vol. 18(2), pages 457-488.
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    5. Xavier Vives, 2011. "Competition policy in banking," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 27(3), pages 479-497.
    6. Viral V. Acharya & Heitor Almeida & Murillo Campello, 2013. "Aggregate Risk and the Choice between Cash and Lines of Credit," Journal of Finance, American Finance Association, vol. 68(5), pages 2059-2116, October.
    7. Keeley, Michael C, 1990. "Deposit Insurance, Risk, and Market Power in Banking," American Economic Review, American Economic Association, vol. 80(5), pages 1183-1200, December.
    8. Merton, Robert C, 1974. "On the Pricing of Corporate Debt: The Risk Structure of Interest Rates," Journal of Finance, American Finance Association, vol. 29(2), pages 449-470, May.
    9. Benjamin Yibin Zhang & Hao Zhou & Haibin Zhu, 2009. "Explaining Credit Default Swap Spreads with the Equity Volatility and Jump Risks of Individual Firms," The Review of Financial Studies, Society for Financial Studies, vol. 22(12), pages 5099-5131, December.
    10. Altunbas, Yener & Gambacorta, Leonardo & Marques-Ibanez, David, 2010. "Bank risk and monetary policy," Journal of Financial Stability, Elsevier, vol. 6(3), pages 121-129, September.
    11. John Y. Campbell & Glen B. Taksler, 2003. "Equity Volatility and Corporate Bond Yields," Journal of Finance, American Finance Association, vol. 58(6), pages 2321-2350, December.
    12. Focarelli, Dario & Pozzolo, Alberto Franco & Casolaro, Luca, 2008. "The pricing effect of certification on syndicated loans," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 335-349, March.
    13. Raghuram G. Rajan, 2006. "Has Finance Made the World Riskier?," European Financial Management, European Financial Management Association, vol. 12(4), pages 499-533, September.
    14. Lammertjan Dam & Michael Koetter, 2012. "Bank Bailouts and Moral Hazard: Evidence from Germany," The Review of Financial Studies, Society for Financial Studies, vol. 25(8), pages 2343-2380.
    15. Mark Carey & Greg Nini, 2007. "Is the Corporate Loan Market Globally Integrated? A Pricing Puzzle," Journal of Finance, American Finance Association, vol. 62(6), pages 2969-3007, December.
    16. DeYoung, Robert & Peng, Emma Y. & Yan, Meng, 2013. "Executive Compensation and Business Policy Choices at U.S. Commercial Banks," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 48(1), pages 165-196, February.
    17. Laeven, Luc & Levine, Ross, 2009. "Bank governance, regulation and risk taking," Journal of Financial Economics, Elsevier, vol. 93(2), pages 259-275, August.
    18. Reint Gropp & Hendrik Hakenes & Isabel Schnabel, 2011. "Competition, Risk-shifting, and Public Bail-out Policies," The Review of Financial Studies, Society for Financial Studies, vol. 24(6), pages 2084-2120.
    19. Lewis Gaul & Pinar Uysal, 2013. "Can Equity Volatility Explain the Global Loan Pricing Puzzle?," The Review of Financial Studies, Society for Financial Studies, vol. 26(12), pages 3225-3265.
    20. Ivashina, Victoria & Sun, Zheng, 2011. "Institutional demand pressure and the cost of corporate loans," Journal of Financial Economics, Elsevier, vol. 99(3), pages 500-522, March.
    21. Donald P. Morgan, 2002. "Rating Banks: Risk and Uncertainty in an Opaque Industry," American Economic Review, American Economic Association, vol. 92(4), pages 874-888, September.
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    Cited by:

    1. João Barata Ribeiro Blanco Barroso & Sergio Rubens Stancato de Souza & Solange Maria Guerra, 2016. "Systemic Risk-Taking Channel of Domestic and Foreign Monetary Policy," Working Papers Series 412, Central Bank of Brazil, Research Department.

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    Keywords

    Systemic risk-taking; Loan pricing; Public guarantees; Too-many-to-fail; Syndicated;
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