政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/142008

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113311/144292 (79%)
Visitors : 50936600 Online Users : 932

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/142008

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/142008

Title:	Board Corruption and Loan Contracts
Authors:	黃嘉威 Huang, Chia-Wei Robin;Lin, Chih-Yung
Contributors:	財管系
Keywords:	agency problem;bank loan spread;board corruption;corporate governance;financing cost
Date:	2022-03
Issue Date:	2022-09-21 11:08:49 (UTC+8)
Abstract:	In this study, we examine the effects of board corruption on the financing costs of firms. We construct an index of perceived corruption that uses the average level of corruption that is linked to a director`s surname. The evidence shows that lending banks attach higher spreads and stricter covenants to the loan contracts of firms with high perceived board corruption. Specifically, when the perceived board corruption increases after mergers and acquisitions, firms are charged higher loan spreads. Further analysis shows that the effects of board corruption on financing costs become stronger when firms have weak governance mechanisms. These results show that banks recognize board corruption as a source of agency problem with borrowers when they make lending decisions.
Relation:	Journal of Business Finance & Accounting, Vol.49, No.9-10, pp.1929-1956
Data Type:	article
DOI 連結:	https://doi.org/10.1111/jbfa.12604
DOI:	10.1111/jbfa.12604
Appears in Collections:	[財務管理學系] 期刊論文

Files in This Item:

File	Description	Size	Format
index.html		0Kb	HTML2	209	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...