The Value of Financial Intermediaries: Empirical Evidence from Syndicated Loans to Emerging Market Borrowers

@inproceedings{Nini2004TheVO,
  title={The Value of Financial Intermediaries: Empirical Evidence from Syndicated Loans to Emerging Market Borrowers},
  author={Gregory P. Nini},
  year={2004}
}
Empirical estimates of the benefit of financial intermediation are constructed by examining the role played by local banks in facilitating syndicated loans to borrowers in emerging market countries. Assuming that local banks possess a superior monitoring ability, the market is ideal for studying the value of intermediation since cross-border lending into emerging markets is plagued by particularly high information and agency costs and the supply of local bank capital is in limited short run… CONTINUE READING

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