https://scholars.lib.ntu.edu.tw/handle/123456789/414644
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Bui D.G. | en_US |
dc.contributor.author | Chen Y.-S. | en_US |
dc.contributor.author | Hasan I. | en_US |
dc.contributor.author | Lin C.-Y. | en_US |
dc.creator | Lin C.-Y.;Hasan I.;Chen Y.-S.;Bui D.G. | - |
dc.date.accessioned | 2019-07-24T01:37:41Z | - |
dc.date.available | 2019-07-24T01:37:41Z | - |
dc.date.issued | 2018 | - |
dc.identifier.issn | 03784266 | - |
dc.identifier.uri | https://scholars.lib.ntu.edu.tw/handle/123456789/414644 | - |
dc.description.abstract | We investigate the effect of managerial ability versus luck on bank loan contracting. Borrowers showing a persistently superior managerial ability over previous years (more likely due to ability) enjoy a lower loan spread, while borrowers showing a temporary superior managerial ability (more likely due to luck) do not enjoy any spread reduction. This finding suggests that banks can discern ability from luck when pricing a loan. Firms with high-ability managers are more likely to continue their prior lower loan spread. The spread-reduction effect of managerial ability is stronger for firms with weak governance structures or poor stakeholder relationships, corroborating the notion that better managerial ability alleviates borrowers�� agency and information risks. We also find that well governed banks are better able to price governance into their borrowers�� loans, which helps explain why good governance enhances bank value. ? 2017 Elsevier B.V. | - |
dc.language | English | - |
dc.relation.ispartof | Journal of Banking and Finance | - |
dc.subject | Agency and information risk | - |
dc.subject | Corporate governance | - |
dc.subject | Managerial ability | - |
dc.subject | Stakeholder relationship | - |
dc.subject | The cost of debt | - |
dc.subject.classification | [SDGs]SDG16 | - |
dc.title | Can lenders discern managerial ability from luck? Evidence from bank loan contracts | en_US |
dc.type | journal article | en |
dc.identifier.doi | 10.1016/j.jbankfin.2017.09.023 | - |
dc.identifier.scopus | 2-s2.0-85042145975 | - |
dc.identifier.url | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85042145975&doi=10.1016%2fj.jbankfin.2017.09.023&partnerID=40&md5=cfec722cbafc62c4e26eaff38f6bda5e | - |
dc.relation.pages | 187-201 | - |
dc.relation.journalvolume | 87 | - |
item.openairecristype | http://purl.org/coar/resource_type/c_6501 | - |
item.openairetype | journal article | - |
item.grantfulltext | none | - |
item.cerifentitytype | Publications | - |
item.fulltext | no fulltext | - |
crisitem.author.dept | Finance | - |
crisitem.author.parentorg | College of Management | - |
Appears in Collections: | 財務金融學系 |
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