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| Author: | Dennis, S.A. Sharpe, I.G. |
| Title: | Firm size depencence in the determinants of bank term loan maturity |
| Journal: | Journal of Business Finance and Accounting
2005 : VOL. 32:1-2, p. 31-96 |
| Index terms: | Loans |
| Freeterms: | Bank Firm size Maturity |
| Language: | eng |
| Abstract: | We examine that abstraction that firm size affects the sensitivity of bank term loan maturity to its underlying determinants. As borrower size increases, negotiating power with the lender and information transparency increase, while the lender is able to spread the fixed costs of loan production across a larger dollar value of the loan. We find strong proof of firm size depency in the determinants of bank term loan maturity and show that this unrelated syndication. Only large borrowers can manipulate bank loan contract terms so as to increase company value. |
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