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題名 金融機構於聯貸市場之特定借款行為探討
The borrowing behaviors of financial institutions in the syndicated loan market
作者 謝立威
貢獻者 張元晨
謝立威
關鍵詞 聯貸
金融機構
借款
日期 2011
上傳時間 12-Apr-2012 13:58:43 (UTC+8)
摘要 傳統以金融機構為借款者的聯貸案常會被針對聯貸市場進行研究的文獻所忽略，而此類型的聯貸案件運作架構與目的與一般產業的聯貸案之間存在著明顯的差異，同時，我們也發現金融業與一般產業的聯貸案分佈的區域也有所不同。因此針對此特定行為進行研究，發現市場資金供需的不平衡以及外幣的業務需求導致了歐洲與澳洲地區的金融機構在亞洲地區進行大規模的聯貸案。
參考文獻 Agarwal, Sumit, and Hauswald, Robert, 2010, “Distance and Private Information in Lending”, The Review of Finance, Vol.23, No.7, 2757-2788
Berger, Allen, Dai, Qinglei, Ongena, Steven, and Smith, David, 2003, “To What Extent will the Banking Industry be Globalized? A Study of Bank Nationality and Reach in 20 European Nations”, Journal of Banking and Finance, Vol.27, No.3, 383-415
Bharath, Sreedhar, Dahiya, Sandeep, Saunders, Anthony, and Srinivasan, Anand, 2007, “So What Do I Get? The Bank’s View of Lending Relationships”, Journal of Financial Economics, Vol.85, No.2, 368-419
Bosch, Oliver, and Steffen, Sascha, 2011, “On Syndicate Composition, Corporate Structure and the Certification Effect of Credit Ratings”, Journal of Banking and Finance, Vol.35, No.2, 290-299
Byers, Steven, Fields, Paige, and Fraser, Donald, 2008, “Are Corporate Governance and Bank Monitoring Substitutes: Evidence from the Perceived Value of Bank Loans”, Journal of Corporate Finance, Vol.14, No.4, 475-483
Carey, Mark and Nini, Greg, 2007, “Is the Corporate Loan Market Globally
Integrated? A Pricing Puzzle”, Journal of Finance, Vol.62, No.6, 2969-3007
Champagne, Claudia, and Kryzanowski, Lawrence, 2007, “Are Current Syndicated Loan Alliances Related to Past Alliances?”, Journal of Banking and Finance, Vol.31, No.10, 3145-3161
Degryse, Hans, and Ongena, Steven, 2002, “Bank-Firm Relationships and International Banking Markets”, International Journal of the Economics of Business, Vol.9, No.3, 401-417
Dennis, Steven, and Mullineaux, Donald, 2000, “Syndicated Loans”, Journal of Financial Intermediation, Vol.9, No.4, 404-426
Ferreira, Miguel and Matos, Pedro, 2011, “Universal Banks and Corporate
Control: Evidence from the Global Syndicated Loan Market”, Working paper
Focarelli, Dario, Pozzolo, Alberto Franco, and Casolaro, Luca, 2008, “The Pricing Effect of Certification on Syndicated Loans”, Journal of Monetary Economics, Vol.55, No.2, 335-349
Francqis, Pascal, and Missonier-Piera, Franck, 2007, “The Agency Structure of Loan Syndicates”, The Financial Review, Vol.42, No.2, 227-245
Giannetti, Mariassunta, and Yafeh, Yishay, 2010, “Do Cultural Differences Between Contracting Parities Matter? Evidence from Syndicated Bank Loans”, Woring paper
Godlewski, Christophe, 2010, “Banking Environment and Loan Syndicate Structure: a Cross-country Analysis”, Applied Financial Economics, Vol.20, No.8, 637-648
Harjoto, Maretno, Mullineaux, Donald, and Yi, Ha-Chin, 2006, “A Comparison of Syndicated Loan Pricing at Investment and Commercial Banks”, Financial Management, Vol.35, No.4, 49-70
Haselmann, Rainer, and Wachtel, Paul, 2011, “Foreign Banks in Syndicated Loan Markets”, Journal of Banking and Finance, Vol.35, No.10, 2679-2689
Hellmann, Thomas, Lindsey, Laura, and Puri, Manju, 2008, “Building Relationships Early: Banks in Venture Capital”, The Review of Financial Studies, Vol.21, No.2, 513-541
Houston, Joel, Itzkowitz, Jennifer, and Naranjo, Andy, 2007, “Borrowing beyond Borders：The Geography and Pricing of Syndicated Bank Loans”, Working paper
Ivashina, Victoria, 2009, “Asymmetric Information Effects on Loan Spreads”,
Journal of Financial Economics, Vol.92, No.2, 300-319
Ivashina, Victoria, and Scharfstein, David, 2010, “Bank Lending during the financial crisis of 2008”, Journal of Financial Economics, Vol.97, No.3, 319-338
Ivashina, Victoria, and Sun, Zheng, 2010, “Institutional Demand Pressure and the Cost of Corporate Loans”, Journal of Financial Economics, Vol.99, No.3, 500-522
Ivashina, Victoria, and Sun, Zheng, 2010, “Institutional Stock Trading on Loan Market Information”, Journal of Financial Economics, Vol.100, No.2, 284-303
Lee, Meng-Fang, 2010, “The Effects of Market Technical on Loan Spread: Evidence from Global Syndicated Loans”, National Chengchi University
Mian, Atif, 2006, “Distance Constraints: The Limits of Foreign in Poor Economies”, Journal of Finance, Vol.61, No.3, 1465-1505
Qian, Jun, and Strahan, Philip, 2007, “How Laws and Institutions Shape Financial Contracts: The Case of Bank Loans”, Journal of Finance, Vol.62, No.6, 2803-2834
Sufi, Amir, 2007, “Information Asymmetry and Financing Arrangements: Evidence from Syndicated Loans”, Journal of Finance, Vol.62, No.2, 629-668
Tsai, Hsiangping, Chang, Yuanchen, and Hsiao, Pei-Hsin, 2011, “What Drives Foreign Expansion of the Top 100 Multinational Banks?”, The Role of the Credit Reporting System” Journal of Banking and Finance, Vol.35, No.3, 588-605
Tsai, Yi-Chun, 2011, “The Determinants of the Financial Institutions’ Subscription in Global Loan Market”, National Chengchi University
Yang, Chih-Ning, 2011, “Do Big Brand Banks Exploit the Benefit? A Non-pricing Benefit Model for Syndicate Loan Market” , National Chengchi University
描述 碩士
國立政治大學
財務管理研究所
99357027
100
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0099357027
資料類型 thesis
dc.contributor.advisor 張元晨zh_TW
dc.contributor.author (Authors) 謝立威zh_TW
dc.creator (作者) 謝立威zh_TW
dc.date (日期) 2011en_US
dc.date.accessioned 12-Apr-2012 13:58:43 (UTC+8)-
dc.date.available 12-Apr-2012 13:58:43 (UTC+8)-
dc.date.issued (上傳時間) 12-Apr-2012 13:58:43 (UTC+8)-
dc.identifier (Other Identifiers) G0099357027en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/52534-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 財務管理研究所zh_TW
dc.description (描述) 99357027zh_TW
dc.description (描述) 100zh_TW
dc.description.abstract (摘要) 傳統以金融機構為借款者的聯貸案常會被針對聯貸市場進行研究的文獻所忽略，而此類型的聯貸案件運作架構與目的與一般產業的聯貸案之間存在著明顯的差異，同時，我們也發現金融業與一般產業的聯貸案分佈的區域也有所不同。因此針對此特定行為進行研究，發現市場資金供需的不平衡以及外幣的業務需求導致了歐洲與澳洲地區的金融機構在亞洲地區進行大規模的聯貸案。zh_TW
dc.description.tableofcontents I. Introduction 1
II. Literature review 6
III. Data and variables 10
IV. Syndicated loan characteristics in different industries 13
V. Pricing factors between financial and general industry 15
VI. Loan features of borrowers in financial industry 19
VII. Motivations for banks to borrow from foreign counterparties 21
(1)The overall review of the activities borrowing abroad 21
(2)The borrowers’ dimension 24
(3)The lenders’ dimension 26
VIII. Conclusion 29
References 32		zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0099357027en_US
dc.subject (關鍵詞) 聯貸zh_TW
dc.subject (關鍵詞) 金融機構zh_TW
dc.subject (關鍵詞) 借款zh_TW
dc.title (題名) 金融機構於聯貸市場之特定借款行為探討zh_TW
dc.title (題名) The borrowing behaviors of financial institutions in the syndicated loan marketen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) Agarwal, Sumit, and Hauswald, Robert, 2010, “Distance and Private Information in Lending”, The Review of Finance, Vol.23, No.7, 2757-2788zh_TW
dc.relation.reference (參考文獻) Berger, Allen, Dai, Qinglei, Ongena, Steven, and Smith, David, 2003, “To What Extent will the Banking Industry be Globalized? A Study of Bank Nationality and Reach in 20 European Nations”, Journal of Banking and Finance, Vol.27, No.3, 383-415zh_TW
dc.relation.reference (參考文獻) Bharath, Sreedhar, Dahiya, Sandeep, Saunders, Anthony, and Srinivasan, Anand, 2007, “So What Do I Get? The Bank’s View of Lending Relationships”, Journal of Financial Economics, Vol.85, No.2, 368-419zh_TW
dc.relation.reference (參考文獻) Bosch, Oliver, and Steffen, Sascha, 2011, “On Syndicate Composition, Corporate Structure and the Certification Effect of Credit Ratings”, Journal of Banking and Finance, Vol.35, No.2, 290-299zh_TW
dc.relation.reference (參考文獻) Byers, Steven, Fields, Paige, and Fraser, Donald, 2008, “Are Corporate Governance and Bank Monitoring Substitutes: Evidence from the Perceived Value of Bank Loans”, Journal of Corporate Finance, Vol.14, No.4, 475-483zh_TW
dc.relation.reference (參考文獻) Carey, Mark and Nini, Greg, 2007, “Is the Corporate Loan Market Globallyzh_TW
dc.relation.reference (參考文獻) Integrated? A Pricing Puzzle”, Journal of Finance, Vol.62, No.6, 2969-3007zh_TW
dc.relation.reference (參考文獻) Champagne, Claudia, and Kryzanowski, Lawrence, 2007, “Are Current Syndicated Loan Alliances Related to Past Alliances?”, Journal of Banking and Finance, Vol.31, No.10, 3145-3161zh_TW
dc.relation.reference (參考文獻) Degryse, Hans, and Ongena, Steven, 2002, “Bank-Firm Relationships and International Banking Markets”, International Journal of the Economics of Business, Vol.9, No.3, 401-417zh_TW
dc.relation.reference (參考文獻) Dennis, Steven, and Mullineaux, Donald, 2000, “Syndicated Loans”, Journal of Financial Intermediation, Vol.9, No.4, 404-426zh_TW
dc.relation.reference (參考文獻) Ferreira, Miguel and Matos, Pedro, 2011, “Universal Banks and Corporatezh_TW
dc.relation.reference (參考文獻) Control: Evidence from the Global Syndicated Loan Market”, Working paperzh_TW
dc.relation.reference (參考文獻) Focarelli, Dario, Pozzolo, Alberto Franco, and Casolaro, Luca, 2008, “The Pricing Effect of Certification on Syndicated Loans”, Journal of Monetary Economics, Vol.55, No.2, 335-349zh_TW
dc.relation.reference (參考文獻) Francqis, Pascal, and Missonier-Piera, Franck, 2007, “The Agency Structure of Loan Syndicates”, The Financial Review, Vol.42, No.2, 227-245zh_TW
dc.relation.reference (參考文獻) Giannetti, Mariassunta, and Yafeh, Yishay, 2010, “Do Cultural Differences Between Contracting Parities Matter? Evidence from Syndicated Bank Loans”, Woring paperzh_TW
dc.relation.reference (參考文獻) Godlewski, Christophe, 2010, “Banking Environment and Loan Syndicate Structure: a Cross-country Analysis”, Applied Financial Economics, Vol.20, No.8, 637-648zh_TW
dc.relation.reference (參考文獻) Harjoto, Maretno, Mullineaux, Donald, and Yi, Ha-Chin, 2006, “A Comparison of Syndicated Loan Pricing at Investment and Commercial Banks”, Financial Management, Vol.35, No.4, 49-70zh_TW
dc.relation.reference (參考文獻) Haselmann, Rainer, and Wachtel, Paul, 2011, “Foreign Banks in Syndicated Loan Markets”, Journal of Banking and Finance, Vol.35, No.10, 2679-2689zh_TW
dc.relation.reference (參考文獻) Hellmann, Thomas, Lindsey, Laura, and Puri, Manju, 2008, “Building Relationships Early: Banks in Venture Capital”, The Review of Financial Studies, Vol.21, No.2, 513-541zh_TW
dc.relation.reference (參考文獻) Houston, Joel, Itzkowitz, Jennifer, and Naranjo, Andy, 2007, “Borrowing beyond Borders：The Geography and Pricing of Syndicated Bank Loans”, Working paperzh_TW
dc.relation.reference (參考文獻) Ivashina, Victoria, 2009, “Asymmetric Information Effects on Loan Spreads”,zh_TW
dc.relation.reference (參考文獻) Journal of Financial Economics, Vol.92, No.2, 300-319zh_TW
dc.relation.reference (參考文獻) Ivashina, Victoria, and Scharfstein, David, 2010, “Bank Lending during the financial crisis of 2008”, Journal of Financial Economics, Vol.97, No.3, 319-338zh_TW
dc.relation.reference (參考文獻) Ivashina, Victoria, and Sun, Zheng, 2010, “Institutional Demand Pressure and the Cost of Corporate Loans”, Journal of Financial Economics, Vol.99, No.3, 500-522zh_TW
dc.relation.reference (參考文獻) Ivashina, Victoria, and Sun, Zheng, 2010, “Institutional Stock Trading on Loan Market Information”, Journal of Financial Economics, Vol.100, No.2, 284-303zh_TW
dc.relation.reference (參考文獻) Lee, Meng-Fang, 2010, “The Effects of Market Technical on Loan Spread: Evidence from Global Syndicated Loans”, National Chengchi Universityzh_TW
dc.relation.reference (參考文獻) Mian, Atif, 2006, “Distance Constraints: The Limits of Foreign in Poor Economies”, Journal of Finance, Vol.61, No.3, 1465-1505zh_TW
dc.relation.reference (參考文獻) Qian, Jun, and Strahan, Philip, 2007, “How Laws and Institutions Shape Financial Contracts: The Case of Bank Loans”, Journal of Finance, Vol.62, No.6, 2803-2834zh_TW
dc.relation.reference (參考文獻) Sufi, Amir, 2007, “Information Asymmetry and Financing Arrangements: Evidence from Syndicated Loans”, Journal of Finance, Vol.62, No.2, 629-668zh_TW
dc.relation.reference (參考文獻) Tsai, Hsiangping, Chang, Yuanchen, and Hsiao, Pei-Hsin, 2011, “What Drives Foreign Expansion of the Top 100 Multinational Banks?”, The Role of the Credit Reporting System” Journal of Banking and Finance, Vol.35, No.3, 588-605zh_TW
dc.relation.reference (參考文獻) Tsai, Yi-Chun, 2011, “The Determinants of the Financial Institutions’ Subscription in Global Loan Market”, National Chengchi Universityzh_TW
dc.relation.reference (參考文獻) Yang, Chih-Ning, 2011, “Do Big Brand Banks Exploit the Benefit? A Non-pricing Benefit Model for Syndicate Loan Market” , National Chengchi Universityzh_TW