Murdoch University Research Repository

Welcome to the Murdoch University Research Repository

The Murdoch University Research Repository is an open access digital collection of research
created by Murdoch University staff, researchers and postgraduate students.

Learn more

Market response to syndicated loan announcements from high‐profile failed and acquiring banks during the global financial crisis

Gasbarro, D., Le, K‐S, Schwebach, R.G. and Zumwalt, J.K. (2019) Market response to syndicated loan announcements from high‐profile failed and acquiring banks during the global financial crisis. Accounting & Finance, 60 (1). pp. 435-470.

Link to Published Version: https://doi.org/10.1111/acfi.12493
*Subscription may be required

Abstract

Previous studies that have examined the impact of the 2008 financial crisis on syndicated loans have ignored potential differences between lending banks by explicitly or implicitly aggregating all lenders together and focusing on borrower characteristics. One must jointly consider both borrower and lender to fully understand the complex role of the syndicate during this period. We consider the identity of the lender, with a focus on five major US banks that failed and their five corresponding acquirers. Our results highlight the distinct roles of investment and commercial banks and facilitate an understanding of relationship and transactional‐based lending.

Item Type: Journal Article
Murdoch Affiliation: School Of Business and Governance
Publisher: Blackwell Publishing Inc.
Copyright: © 2019 Accounting and Finance Association of Australia and New Zealand
URI: http://researchrepository.murdoch.edu.au/id/eprint/51298
Item Control Page Item Control Page