The total costs of corporate borrowing in the loan market: Don't ignore the fees

Research English OPEN
Berg, Tobias; Saunders, Anthony; Steffen, Sascha;
(2016)
  • Publisher: Mannheim: Zentrum für Europäische Wirtschaftsforschung (ZEW)
  • Related identifiers: doi: 10.5282/ubm/epub.22795
  • Subject: 330 Wirtschaft | B8 - Reputation in der Zertifizierungsindustrie
    • ddc: ddc:330

More than 80% of US syndicated loans contain at least one fee type and contracts typically specify a menu of spread and different types of fees. We test the predictions of existing theories about the main purposes of fees and provide supporting evidence that: (1) ... View more
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