The Pricing Effect of Certification on Bank Loans:Evidence from the Syndicated Credit Market

Casolaro LucaFocarelli DarioPozzolo Alberto Franco
CEIS Working Papers
This paper provides a direct test of banks’ ability to mitigate informational asymmetries. In syndicated loans, lenders’ incentive to screen borrowers ex ante and to monitor them ex post increases with the share they retain; consequently, the higher this
Number: 196
Date: Thursday, January 1, 2004
Revision Date: Thursday, January 1, 2004