Customer concentration and loan contract terms

We study pricing and non-pricing features of loan contracts to gauge how the credit market evaluates a firm’s customer-base profile and supply-chain relations. Higher customer concentration increases interest rate spreads and the number of restrictive covenants featured in newly initiated as well as...

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Bibliographische Detailangaben

Veröffentlicht in:	Journal of financial economics 2017-01, Vol.123 (1), p.108-136
Hauptverfasser:	Campello, Murillo, Gao, Janet
Format:	Artikel
Sprache:	eng
Schlagworte:	Bank loans Contract terms Customer concentration Customer relations Financial distress Instrumental variables Lending institutions Loan agreements Pricing policies Restrictive covenants Studies United States
Online-Zugang:	Volltext
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