Relationship lending and bank loan covenant violations

被引：0

作者：

Bo, Xu Chong ^{[1
]}

Li, Wenyi ^{[2
]}

Shi, Jing ^{[3
,4
]}

Zheng, Yi ^{[4
]}

Zhou, Qing ^{[4
]}

机构：

[1] Jiangxi Univ Finance & Econ, Sch Publ Finance & Publ Adm, Nanchang, Jiangxi, Peoples R China

[2] Cent China Normal Univ, Sch Econ & Business Adm, Wuhan, Peoples R China

[3] Shandong Univ Finance & Econ, Sch Finance, Jinan, Peoples R China

[4] Macquarie Univ, Dept Appl Finance, Sydney, NSW, Australia

来源：

ACCOUNTING AND FINANCE | 2021年 / 61卷 / 04期

关键词：

Relationship lending; Loan covenant violations; Information asymmetry;

D O I：

10.1111/acfi.12778

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We examine the association between relationship lending and the likelihood of bank loan covenant violations. We find that relationship lending reduces the probability of ex-post covenant violations. The length of the lending relationships has an inverted U-shaped effect on the likelihood of covenant violations. The borrowers and lenders both benefit from relationship lending, but long-term lending relationships weaken the borrower's bargaining power.

引用

页码：5847 / 5878

页数：32

共 50 条

[41] The Dynamical System of the Deposit and Loan Volumes of a Commercial Bank Containing Interbank Lending and Saving Factors
Sumarti, Novriana
Fadhlurrahman, Akmal
Widyani, Hanifah R.
Gunadi, Iman
SOUTHEAST ASIAN BULLETIN OF MATHEMATICS, 2018, 42 (05) : 757 - 772
[42] Bank lending to targets of active takeover attempts: The simultaneous choice of loan maturity, pricing, and security
Lallemand, Justin
REVIEW OF FINANCIAL ECONOMICS, 2020, 38 (02) : 332 - 351
[43] Lending relationships, credit ratings and bank loan spreads: evidence from Indonesian listed companies
Chandera, Yane
Setia-Atmaja, Lukas
INTERNATIONAL JOURNAL OF MANAGERIAL FINANCE, 2020, 16 (04) : 455 - 479
[44] Foreign bank lending and information asymmetries in China: Empirical evidence from the syndicated loan market
Pessarossi, Pierre
Godlewski, Christophe J.
Weill, Laurent
JOURNAL OF ASIAN ECONOMICS, 2012, 23 (04) : 423 - 433
[45] Bank size, lending paradigms, and usage of Farm Service Agency's guaranteed loan programs
Dodson, Charles
AGRICULTURAL FINANCE REVIEW, 2014, 74 (01) : 133 - +
[46] The Study on the Relationship among Banking Relationship, Lending Contract and Bank Operational Performance
Chang Hsiu-chen
Huang Gow-liang
Yu Chang-hsi
2008 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING (15TH), VOLS I AND II, CONFERENCE PROCEEDINGS, 2008, : 1146 - 1154
[47] Labor unions and debt covenant violations
Li, Guangzi
Lian, Yili
Zhang, Yi
EUROPEAN JOURNAL OF FINANCE, 2024, 30 (09): : 1030 - 1047
[48] CEO overconfidence and debt covenant violations
Lartey, Theophilus
Danso, Albert
JOURNAL OF FINANCIAL RESEARCH, 2022, 45 (01) : 162 - 199
[49] Covenant-lite agreement and credit risk: A key relationship in the leveraged loan market
De Novellis, G.
Tanzi, P. Musile
Stanghellini, E.
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2024, 70
[50] The biodiversity bank cannot be a lending bank
Bekessy, Sarah A.
Wintle, Brendan A.
Lindenmayer, David B.
Mccarthy, Michael A.
Colyvan, Mark
Burgman, Mark A.
Possingham, Hugh P.
CONSERVATION LETTERS, 2010, 3 (03): : 151 - 158

← 1 2 3 4 5 →