The Effect Of Corruption And Country Risk On Syndicated Loan Establishment And Structure In Asia 1999-2003

Lasmono, Dian and Marciano, Deddy and Bartle, James (2013) The Effect Of Corruption And Country Risk On Syndicated Loan Establishment And Structure In Asia 1999-2003. In: Seminar Nasional dan Call for Paper Forum Manajemen Indonesia (FMI) Ke-5, 23-24 Oktober 2013, Fakultas Ekonomi Universitas Tanjungpura Pontianak .

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Abstract

This research objective is to test whether the corruption perception index (CPI), and country risk index, both as a macroeconomic variable, could affect the lead arranger decision for syndicated loans or the size determination for syndicated loans. In this research, we use logit methodology to analyze the lead arranger decision to approve a syndicated loans application, meanwhile to analyze the size determination, we used tobit model analysis. The sample for this research came from all recorded loan transaction in Asia during 1999-2003. To strenghten the research analysis, we also apply robustnest check with an ordinary least square method. From this research, it is showed that the lead arranger consider their reputation and certification effect as an important factor that lead them to prefer a low risk syndicated loans. For size determintation, lead arranger will decide a higher size for a higher risk loan, since they expect a higher return as a risk compensation for the investment.

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Business and Economic > Department of Management
Depositing User: Deddy Marciano 3372
Date Deposited: 22 Mar 2018 07:33
Last Modified: 22 Mar 2018 07:33
URI: http://repository.ubaya.ac.id/id/eprint/31868

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