The Design of Bank Loan Syndicates in Emerging Markets Economies

40 Pages Posted: 19 Jul 2007

See all articles by Christophe J. Godlewski

Christophe J. Godlewski

University of Strasbourg - Faculty of Law and Business; EM Strasbourg Business School; LaRGE Research Center

Date Written: July 2007

Abstract

We empirically explore the influence of loan characteristics, banking and financial structure, and regulatory and institutional factors on the design of 10,930 bank loan syndicates in emerging market economies from 1990 to 2006. Our results show that the structure of syndicates is adapted to enhance monitoring of the borrower and to increase the efficiency of re-contracting process in case of borrower's distress. Main syndication motives, such as loans portfolio diversification, regulatory pressure and management costs reduction, influence syndicate design in emerging markets economies.

Keywords: Bank, Loan, Syndication, Syndicate Structure, Emerging Markets, Poisson Regressions

JEL Classification: G21, C25

Suggested Citation

Godlewski, Christophe J., The Design of Bank Loan Syndicates in Emerging Markets Economies (July 2007). Available at SSRN: https://ssrn.com/abstract=1001456 or http://dx.doi.org/10.2139/ssrn.1001456

Christophe J. Godlewski (Contact Author)

University of Strasbourg - Faculty of Law and Business ( email )

1 place d'Athènes
Strasbourg, 67000
France

HOME PAGE: http://droit.unistra.fr/

EM Strasbourg Business School ( email )

61 Avenue de la Forêt Noire
Strasbourg, 67000
France

HOME PAGE: http://www.em-strasbourg.eu/

LaRGE Research Center ( email )

1 place d'Athènes
Strasbourg, 67000
France

HOME PAGE: http://droit.unistra.fr/

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