{"id":"https://openalex.org/W2188886271","doi":null,"title":"The Effects of Syndicate Structure on Loan Spreads","display_name":"The Effects of Syndicate Structure on Loan Spreads","publication_year":2005,"publication_date":"2005-01-01","ids":{"openalex":"https://openalex.org/W2188886271","mag":"2188886271"},"language":"en","primary_location":{"id":"mag:2188886271","doi":null,"is_oa":false,"landing_page_url":"http://w4.stern.nyu.edu/salomon/docs/conferences/Ivashina.pdf","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5078756606","display_name":"Victoria Ivashina","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Victoria Ivashina","raw_affiliation_strings":["New York University<sup>**</sup>"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"New York University<sup>**</sup>","institution_ids":["https://openalex.org/I57206974"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5078756606"],"corresponding_institution_ids":["https://openalex.org/I57206974"],"apc_list":null,"apc_paid":null,"fwci":3.9923,"has_fulltext":false,"cited_by_count":18,"citation_normalized_percentile":{"value":0.94165089,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.5957000255584717,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.5957000255584717,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11496","display_name":"Credit Risk and Financial Regulations","score":0.3529999852180481,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.03440000116825104,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/syndicated-loans","display_name":"syndicated loans","score":0.6710000038146973},{"id":"https://openalex.org/keywords/loan-spreads","display_name":"loan spreads","score":0.8330000042915344},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.9129999876022339},{"id":"https://openalex.org/keywords/moral-hazard","display_name":"moral hazard","score":0.9890000224113464},{"id":"https://openalex.org/keywords/adverse-selection","display_name":"adverse selection","score":1.0},{"id":"https://openalex.org/keywords/diversification","display_name":"diversification","score":0.7179999947547913},{"id":"https://openalex.org/keywords/default-correlation","display_name":"default correlation","score":0.6480000019073486},{"id":"https://openalex.org/keywords/bank-lending","display_name":"bank lending","score":0.5730000138282776}],"concepts":[{"id":"https://openalex.org/C2778655473","wikidata":"https://www.wikidata.org/wiki/Q681615","display_name":"Syndicate","level":2,"score":0.9830843806266785},{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.7394336462020874},{"id":"https://openalex.org/C180916674","wikidata":"https://www.wikidata.org/wiki/Q3711935","display_name":"Diversification (marketing strategy)","level":2,"score":0.7032884359359741},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6482147574424744},{"id":"https://openalex.org/C137577040","wikidata":"https://www.wikidata.org/wiki/Q431965","display_name":"Information asymmetry","level":2,"score":0.5152904987335205},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.4957188367843628},{"id":"https://openalex.org/C2780202544","wikidata":"https://www.wikidata.org/wiki/Q44454","display_name":"Moral hazard","level":3,"score":0.4665273129940033},{"id":"https://openalex.org/C2229670","wikidata":"https://www.wikidata.org/wiki/Q13542675","display_name":"Participation loan","level":4,"score":0.4560641050338745},{"id":"https://openalex.org/C32252159","wikidata":"https://www.wikidata.org/wiki/Q380037","display_name":"Adverse selection","level":2,"score":0.44230571389198303},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3950706124305725},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.32339367270469666},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2803952395915985},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2744736671447754},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.20551583170890808},{"id":"https://openalex.org/C71387314","wikidata":"https://www.wikidata.org/wiki/Q494128","display_name":"Non-performing loan","level":3,"score":0.12349283695220947},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.06146085262298584},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"mag:2188886271","doi":null,"is_oa":false,"landing_page_url":"http://w4.stern.nyu.edu/salomon/docs/conferences/Ivashina.pdf","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":27,"referenced_works":["https://openalex.org/W593770794","https://openalex.org/W1534833543","https://openalex.org/W1605914405","https://openalex.org/W1973563023","https://openalex.org/W2001001585","https://openalex.org/W2045799106","https://openalex.org/W2053347939","https://openalex.org/W2072920526","https://openalex.org/W2096930040","https://openalex.org/W2098723702","https://openalex.org/W2105973145","https://openalex.org/W2108491286","https://openalex.org/W2116824661","https://openalex.org/W2154127363","https://openalex.org/W2479042598","https://openalex.org/W2752617332","https://openalex.org/W3023254902","https://openalex.org/W3121191388","https://openalex.org/W3122042469","https://openalex.org/W3122294936","https://openalex.org/W3122368406","https://openalex.org/W3123059484","https://openalex.org/W3123461970","https://openalex.org/W3123579371","https://openalex.org/W3123801307","https://openalex.org/W3125405603","https://openalex.org/W3146692618"],"related_works":["https://openalex.org/W7099211274","https://openalex.org/W2033992022","https://openalex.org/W2978627646","https://openalex.org/W3123580916","https://openalex.org/W2156663034","https://openalex.org/W1522374793","https://openalex.org/W2257258872","https://openalex.org/W4230904525","https://openalex.org/W2133670123","https://openalex.org/W7101088198"],"abstract_inverted_index":{"This":[0,129],"paper":[1,199],"shows":[2],"that":[3,41,154,200],"the":[4,7,10,15,19,23,30,38,52,56,60,70,77,119,126,133,136,158,169,175,178,186,190,197,202],"structure":[5,75],"of":[6,118,135,177,192],"syndicate":[8,25,40,74,209],"affects":[9,132],"spread":[11,79,122,207],"in":[12,174,185],"addition":[13],"to":[14,43,65,98],"borrower\u2019s":[16],"characteristics.":[17],"Because":[18],"lead":[20,61,127,137,159,179],"bank":[21,62,138],"is":[22,33,80,196],"principal":[24],"member":[26],"collecting":[27],"information":[28,35,85,106,145],"about":[29],"borrower,":[31],"there":[32],"an":[34,94,164,172],"asymmetry":[36,146],"within":[37,147],"lending":[39],"leads":[42],"moral":[44],"hazard":[45],"and/or":[46],"adverse":[47],"selection":[48],"problems,":[49],"thereby,":[50],"impacting":[51],"loan":[53,78,105,121,187,206],"spread.":[54,188],"Consequently,":[55],"share":[57,181],"retained":[58],"by":[59,84,89,125],"can":[63],"help":[64],"mitigate":[66],"these":[67,100],"problems.":[68],"However,":[69],"observed":[71],"relationship":[72,204],"between":[73,157,205],"and":[76,139,160,171,208],"influenced,":[81],"not":[82],"only":[83],"asymmetry,":[86],"but":[87],"also":[88],"diversification":[90,134],"considerations.":[91],"I":[92,113],"use":[93],"instrumental":[95],"variables":[96],"approach":[97],"separate":[99],"two":[101],"effects.":[102],"By":[103],"combining":[104],"with":[107],"novel":[108],"data":[109],"on":[110,144,168],"default":[111],"correlations,":[112],"construct":[114],"a":[115,148,183],"direct":[116,142],"measure":[117],"risk-based":[120],"premium":[123],"required":[124],"bank.":[128],"variable":[130],"exogenously":[131],"has":[140],"no":[141],"effect":[143],"syndicate.":[149],"The":[150],"main":[151],"results":[152],"are":[153],"informational":[155],"frictions":[156],"participant":[161],"banks":[162],"have":[163],"important":[165],"economic":[166],"impact":[167],"spread,":[170],"increase":[173],"size":[176],"bank's":[180],"causes":[182],"reduction":[184],"To":[189],"best":[191],"my":[193],"knowledge,":[194],"this":[195],"first":[198],"addresses":[201],"endogenous":[203],"structure.":[210]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":3},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
