Multi-lender choice: Corporate bonds vs syndicated loans in mexican firms
We study the long-term financing choice between syndicated loans and Mexican firms' issuance of public debt. We restrict our attention to those firms that issue securities in capital markets. Our findings suggest that the firm's size, the quality of its collateral, and credit quality play an impor...
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| Autores principales: | , , |
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| Formato: | Artículo |
| Lenguaje: | inglés |
| Publicado: |
2023
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| Materias: | |
| Acceso en línea: | https://dialnet.unirioja.es/servlet/oaiart?codigo=8721844 |
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| Sumario: | We study the long-term financing choice between syndicated loans and Mexican firms' issuance of public
debt. We restrict our attention to those firms that issue securities in capital markets. Our findings suggest
that the firm's size, the quality of its collateral, and credit quality play an important role in the outcome of
choice. We also find that the marginal effects of these three characteristics are not consistent along their
range of values. In particular, we found evidence that the credit quality of firms has a non-monotonic
effect in the choice. |
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