Acceso usuarios
What is the influence of the banking environment on bank syndicate structure? We provide empirical evidence on this issue by examining the influence of several banking environment characteristics, including the structure of the banking market, financial development, banking regulation and supervision and legal risk, on the structure of bank syndicates. The results of a cross-country analysis performed on a sample of 15 586 syndicated loan facilities for borrowers from 24 countries confirm that syndicate structure is influenced by banking environment in a way consistent with minimizing agency costs and efficient re-contracting objectives.
