Haku
Viitteet 1-1 / 1
Can lenders discern managerial ability from luck? Evidence from bank loan contracts
(15.02.2018)
Journal of Banking and Finance February
Journal of Banking and Finance February
We investigate the effect of managerial ability versus luck on bank loan contracting. Borrowers showing a persistently superior managerial ability over previous years (more likely due to ability) enjoy a lower loan spread, ...