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Author: | Shailer, G. E. P. |
Title: | The relevance of owner-manager signals and risk proxies to the pricing of bank loans |
Journal: | Accounting and Business Research
1999 : WINTER, VOL. 30:1, p. 57-72 |
Index terms: | Banking Loans Interest rates Pricing Policy Small business Risk Models Australia |
Freeterms: | SME |
Language: | eng |
Abstract: | This exploratory study, using a sample of 115 new bank loans to small owner-managed firms, demonstrates that a simple categorical pricing model can explain a substantial part of the variation in interest rate premia. It appears that loan term and size interact in their association with interest rate premia. The results generally indicate that a simple categorical model may be an appropriate representation of loan pricing for small firms and that this can be used to test the value to borrowers of investing in quality signals and information cues. |
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