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Hu, Yan. "Essays on bank loan contracts." Diss., Temple University Libraries, 2011. http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/109975.
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Business Administration/Finance<br>Ph.D.<br>Jensen and Meckling (1976) depict the firm as a nexus of financial contracts that offer optimal mechanisms to mitigate various frictions between agents, e.g., equity holders versus debt holders, principal versus agent, etc. In this study, we focus on two particular types of loan contract, performance pricing and revolving line of credit.
Chapter 1 examines how default risk and accounting quality of borrowers affect the likelihood of using performance pricing in bank loan contracts. Consistent with the notion of negative hedging, higher default risk firms are less likely to use performance pricing loans. We also find that firms with poorer accounting quality are less likely to receive performance pricing loans. Stronger lender-borrower relationship that would mitigate information asymmetry and enhance monitoring, is found to be associated with greater likelihood of using performance pricing loans. In addition, we find that conditional on using performance pricing loans, firms with lower (higher) accounting quality are more likely to receive credit rating (accounting) based performance pricing provision. Furthermore, we document that the likelihood of receiving performance pricing loans is significantly reduced after borrowers' accounting quality deteriorates, e.g., after they restate their financial reports. These results supports the positive accounting theory, suggesting that a significant cost associated with performance pricing loans is borrowers' incentives to manipulate accounting information so as to obtain a lower loan spread. Theoretical literature suggests that firms use lines of credit as a liquidity insurance to secure a desirable investment level in the event of future downturn (Tirole, 2005). In Chapter 2, we examine whether lines of credit provide liquidity insurance or simply convenience to firms via focusing on the drawdown rate. We find that drawdown rate is on average significantly lower than the imputed market rate on a bank loan given the financial condition of a firm at the time of drawdown, which supports the theoretical notion that lines of credit offer liquidity insurance. In addition, we document that stronger (or existence of) prior lending relation is associated with a lower drawdown rate, however bank reputation has no impact on the drawdown rate. Furthermore, we find that the impact of lending relation on the drawdown rate only exists in borrowers subject to greater information asymmetry. While we document that borrowers are penalized (paying a higher spread and more likely pledging collateral) on new lines of credit issued after their drawdown, they are penalized much less as they borrow from high reputation banks. Our results suggest that bank reputation and lending relation help provide a more efficient liquidity insurance, however via different channels.
Chapter 3 examines how a firm's performance pricing loans affect manager's incentive to manipulate earning. We find that firms with a greater slope or convexity in their performance pricing loans have significantly larger discretionary accruals. However, the positive association between the slope or convexity of PSD and discretionary accruals is significantly reduced as the lenders are of higher reputation or have had a prior lending relationship with the borrowers. These results suggest that bank reputation and prior lending relation serve as an effective monitoring mechanism, which in turn mitigates managers' incentive to manage earnings.<br>Temple University--Theses
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Chen, Zhizhen. "Loan securitization, bank risk, and efficiency." Thesis, University of Glasgow, 2018. http://theses.gla.ac.uk/9007/.
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The 2007-09 financial crisis highlighted the devastating impact of securitization on the stability of the banking system. However, studies on securitization are far from sufficient to show the impact on a bank’s performance. To better understand the impact of securitization in order to prevent such crisis to happen again, I study bank loan securitization in this Ph.D. thesis. This thesis aims to provide empirical explanations to answer two dilemmas in securitization literature. First, ambiguous results are presented in the impact of securitization on bank risk. Classic theories suggest that loan securitization allows securitizers to transfer the potential risk to outside investors and diversify the large exposure to a single shock by sharing this potential riskiness with all investors linked by securitized assets, which in turn decreases bank risk and increases the stability of financial system. However, recent evidence reveals that securitizers have the intention to ignore potential risk and take on more risk, introducing more risk into the financial system and increasing the level of bank riskiness. Second, securitization introduces a higher flexibility for banks to allocate their resources and increases bank efficiency accordingly. However, securitization process is closely linked to a large amount of upfront and managerial costs, which can lead to an additional burden to banks and decrease securitizers’ efficiency. This thesis develops a synthetic empirical analysis and shows a short- and long-term impact of securitization on bank risk, and a positive impact on a bank’s efficiency score. Details information are as follows. In the first chapter, I provide an introduction of the thesis. In chapter two, I present a comprehensive introduction on securitization, including both background history, literature, and related empirical issues. I also provide detailed information on securitization transaction in practice. In the empirical method review, this thesis highlights the self-selection problem in securitization. For example, the impact of securitization on bank performance may simply depend on a bank’s choice of whether to securitize their loans or not. In order to address such a problem, estimation methods including Heckman model, instrumental variable analysis, propensity score matching and Difference-in-Difference analysis, are discussed. From chapter three, I present empirical studies on the impact of bank securitization activities in the U.S. I first study the conflicts of the impact of securitization on bank risk. Risk transfer and diversification theories suggest that securitization reduce bank risk, while commentators blame the lending standard decrease as the main driver of the subprime crisis. Therefore, I conduct several methodologies to study the impact of securitization on bank risk in chapter three and the impact of securitization on the likelihood of bank failure in chapter four. The thesis studies the impact of securitzation on bank efficiency scores in Chapter five. The reported results suggest that bank loan securitization is associated with an efficiency increase effect. The reported results suggest that loan securitization allows banks to shift off undesirable risk through the true sale process, which in turn decreases bank’s capital requirement due to a decreased risk of capital. Bank liquidity can also be increased by transferring the illiquid loans into marketable securities. Both effects increase a bank’s financial flexibility and efficiency. The diversification of securitization also allows securitizers to allocate more of their resources efficiently. During the cross-variation analysis, results support the arguments above. In chapter six, I review all empirical results and provide explanations on the results. First, a short- and long-term explanation of the impact of loan securitization is provided. That is, bank loan securitization could reduce bank risk within a short term through risk transfer and diversification effect but increases the likelihood of bank failure in the long run, because securitizers are more likely to lower the lending standard or pursue regulatory arbitrage. Recent development of the securitization studies and practice are also presented. The last chapter concludes the study and point out the possible extensions of the study. This thesis provides extensive empirical results that adds to the extant studies on securitization.
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Lee, Darrell E. "Firm performance and bank-loan revisions : an analysis of bank monitoring." The Ohio State University, 1995. http://rave.ohiolink.edu/etdc/view?acc_num=osu1272993921.
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Park, Jung Chik. "Business cycle and bank loan portfolio performance: empirical evidence from Brazilian banks." reponame:Repositório Institucional do FGV, 2011. http://hdl.handle.net/10438/8903.
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Previous issue date: 2011-12-13<br>Este trabalho estuda os efeitos do crescimento econômico e da taxas de juros sobre o desempenho de carteiras de empréstimo dos bancos comerciais brasileiros no período de 2000 a 2010. Os resultados empíricos mostram que o crescimento econômico é o principal 'driver' para o desempenho da carteira de crédito. Não foram encontradas evidências estatísticas sginificativas de mudanças na taxa de juros sobre o desempenho das carteiras de empréstimos. Além disso, há evidências empíricas de que o impacto do crescimento econômico sobre o desempenho da carteria de crédito tem efeito defasado de 2 trimestres. Por fim, os resultados mostram que alterações de PIB impactam de forma mais significativa o desempenho da carteira de crédito dos bancos comerciais brasileiros maiores. Devido ao efeito multiplicador do mercado de crédito, quanto maior o banco, maior a expansão relativa de sua carteira de crédito e, conseqüentemente a taxa de inadimplência da carteira, que é agravada pela concentração do mercado de crédito no Brasil.
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Khayati, Amine. "Bank Certification Effect on CEO Compensation." OpenSIUC, 2010. https://opensiuc.lib.siu.edu/dissertations/174.
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Contrary to other forms of outside financing, the announcement of a bank loan agreement prompts a positive and significant market return. Throughout the literature, bank loans are deemed special and unique due to multiple benefits accruing to bank borrowers. The short-term positive market reaction is however inconsistent with the long-term underperformance of borrowing firms (Billet et al., 2006). We find that unlike shareholders, CEOs gain from the bank loan relation over the long-term. Specifically, we find that bank loan agreement elicits a significant increase in total compensation through an increase in non-performance based compensation components such as salary, bonus and other compensation. We also notice a smaller proportion of pay-at-risk. Additional results indicate that bank loan agreement significantly reduces the probability of CEO turnover in the subsequent year, and no change in the probability of CEO turnover in the three years following the loan. Generally, the results suggest that subsequent to a major bank loan, CEOs seem to gain enough influence to shield their compensation from the firm's underperformance and to secure employment. In particular, this evidence supports the "uniqueness" of bank loan relations.
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Frizell, Julie Dolan. "The Causes and Effects of Commercial Bank Participation in the Federal Home Loan Bank System." Diss., Virginia Tech, 2002. http://hdl.handle.net/10919/29347.
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The 1990s saw significant increases in commercial bank membership in the Federal Home Loan Bank (FHLB) System and extensive growths in FHLB assets and outstanding advances. Since FHLB policies may enable risk-taking behavior by the System's member institutions, this research evaluates the impact of the FHLBs on community bank members, local consumers, and local markets.
Results suggest that commercial bank liquidity is enhanced by and managed with the use of System advances, and investments in loans and mortgage-related assets increase with FHLB participation, particularly by small bank members. Credit quality and bank financial conditions improve after participating in the FHLB program, and cost savings from borrowing System funds may contribute to higher rates paid on deposits in local markets. However, banks with greater exposure to interest rate risk are more likely to become FHLB members, and interest rate risk exposure further increases after membership attainment, as the amount of advances borrowed increases, and the longer members remain in the FHLB program. Long-term advances have not been used to lengthen liability duration to offset growth in long-term asset investments, which makes the FHLB System more highly susceptible to rising rates.<br>Ph. D.
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Yu, Jiewei. "Loan spreads and unexpected earnings." Columbus, Ohio : Ohio State University, 2007. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1180535745.
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Meder, Anthony Alan. "SFAS 115, Bank Balance Sheet Liquidity and Loan Growth." The Ohio State University, 2011. http://rave.ohiolink.edu/etdc/view?acc_num=osu1312309973.
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Ozili, Peterson Kitakogelu. "Bank income smoothing and loan loss provisioning practices in Africa." Thesis, University of Essex, 2017. http://repository.essex.ac.uk/20804/.
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The primary objective of the thesis is to investigate whether African banks use loans loss provisions estimates to smooth reported earnings, and to determine the factors that influence the extent of earnings smoothing among African banks. Earnings smoothing via loan loss provision has been examined in several regions, but the case of Africa remain unexplored in the literature. In the thesis, earnings smoothing is viewed as an earnings management practice while loan loss provisions estimate is considered to be the tool used by African banks to smooth reported earnings. Using African bank data obtained from Bankscope database, I test the earnings smoothing hypothesis for 370 African banks during the 2002 to 2014 period using the specific-accrual approach. The specific-accrual approach estimates a specific discretionary accrual as a function of its non-discretionary determinants and other factors that influence the manipulation of the specific accrual. The model specification expresses discretionary loan loss provisions as a function of earnings before provisions and tax, its non-discretionary determinants and other factors that influence the decision regarding the level of bank provisions for each period. The findings indicate that African banks manipulate loan loss provisions estimates to smooth reported earnings and this behaviour is influenced by bank differences, accounting disclosure differences and institutional differences across African countries. The primary contribution to knowledge of the thesis is its extension of our understanding of the role of discretionary accruals in the bank financial reporting, focusing on African banks - a context that has not been extensively examined in the literature. Also, the thesis extends the bank earnings smoothing debate to the African context and the findings of this study are useful to bank regulators in Africa in their evaluation of whether bank loan loss provisions solely reflect credit risk considerations or whether bank loan loss provisions estimates reflect opportunistic considerations of African bank managers. Finally, the findings are useful to local accounting standard setters in the region in their evaluation of several accounting numbers that bank managers might use to manipulate reported earnings.
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Lim, Chu Yeong. "Three empirical essays on bank accounting." Thesis, University of Manchester, 2013. https://www.research.manchester.ac.uk/portal/en/theses/three-empirical-essays-on-bank-accounting(4cbd4150-4bdb-4947-8759-9bbc9f415563).html.
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This thesis presents new empirical evidence on three important aspects of financial reporting by banks. The thesis consists of an introductory chapter that explains how the three issues are related to each other, three empirical chapters and a final summary chapter. The first empirical chapter studies the effects of accounting conservatism on the pricing of syndicated bank loans. I provide evidence that banks more timely in loss recognition charge higher spreads for the same loan provision. I go on to consider what happens to this relationship during the financial crisis. During the crisis, banks more timely in loss recognition increase their spreads to a lesser extent than banks less timely in loss recognition. The policy implication is that banks more timely in loss recognition exhibit more prudent and less pro-cyclical debt pricing behaviour. The second empirical chapter examines the relationship between the value relevance of fair value gains and losses and bank risk in an international bank sample. One possibility is that, as risk increases, the scope for subjectivity in fair value estimates increases thereby potentially rendering the numbers less useful. However another possibility is that the relevance of faithfully reported fair value gains and losses increases as risk increases. The study provides evidence that the value relevance of fair value gains and losses is positively associated with bank risk prior to the crisis. During the crisis there is also evidence of a similar positive relationship, but it is not possible to draw firm conclusions for reasons discussed in the chapter. My research also shows that the fair value gains and losses of banks that elect to use the fair value option for assets that could have been accounted for using amortized costs are more value relevant and persistent. This study provides information to policy makers on the situations when fair values are most useful to investors. The third empirical chapter examines if the market rationally prices the loan loss provisions, and the reported fair value gains and losses of US banks. The chapter models the discretionary components of loan loss provisions and fair value gains and losses, and tests if the discretionary components are priced differently from their non-discretionary counterparts. The results provide little evidence that the market misprices operating cash flows, non-discretionary loan loss provisions, or fair value gains and losses (discretionary or otherwise). However there is evidence of significant mispricing of discretionary loan loss provisions. The lack of evidence on the mispricing of fair value gains and losses is consistent with the finding on the value relevance of fair value gains and losses in the second empirical chapter.
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Ghosh, Sudip. "Risk based capital requirements and the U.S. loan market." Morgantown, W. Va. : [West Virginia University Libraries], 1999. http://etd.wvu.edu/templates/showETD.cfm?recnum=853.
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Thesis (Ph. D.)--West Virginia University, 1999.<br>Title from document title page. Document formatted into pages; contains vi, 175 p. : ill. Includes abstract. Includes bibliographical references (p. 173-175).
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Tzeng, Tz-Chi, and 曾子綺. "Study on Bank Loan Market." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/40687797790156826523.
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碩士<br>朝陽科技大學<br>財務金融系碩士班<br>100<br>Following the drastic growth of syndicated loan market, the transactional bank lending has catch up the relationship bank lending from behind and become another major corporate financing method in the bank loan market. This study investigates the relationship between transactional lending and relationship lending from the viewpoint of U.S. public corporations. The main empirical results find that the relationship between these two lending type is affected by the business cycle and contract maturity.
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Zeng, Jie-Mei, and 曾介眉. "Overvalued equity and bank loan." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/03280627628215058555.
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碩士<br>輔仁大學<br>企業管理學系管理學碩士班<br>100<br>This study investigates the influence of overvalued equity on bank loan conditions. Furthermore, by conducting the borrower’s long-term performance after bank lending the power of bank monitoring is examined. We introduce the overvalued equity to measure the degree of information asymmetry. As suggested by Jensen (2004, 2005) overvalued equity can be induced by information asymmetry. However, overvaluation itself further leads to some agency costs that further worsen asymmetric information. Using the degree overvaluation as proxy of information asymmetry, this study explores whether the cost of debt is increasing with overvaluation. In addition, we apply the changes in overvaluation to measure the power of bank monitoring and examine how bank monitoring affects firms’ performance.
Evidence shows that bank loan yield spread is significantly negative associated with overvaluation. This finding is inconsistent with the information asymmetry argument. By contrast, overvalued companies can enjoy lower cost of debt. In addition, there is a weak negative association between the probability of providing collateral and the degree of overvaluation. Finally, we find that the changes in overvaluation is negative correlated with bank’s total asset, proxy of bank’s monitoring ability. This implies banks’ involvement on firm operation cannot be disregarded. In brief, bank loan condition is influenced by the borrower’s overvaluation and bank monitoring has impact on the company long-term performance.
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Che-IKan and 甘哲禕. "Customer Satisfaction and Bank Loan Contracting." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/4q3vm5.
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碩士<br>國立成功大學<br>會計學系<br>104<br>This research examines whether customer satisfaction is related to bank loans, as measured by the loan spread. Prior articles find that higher customer satisfaction relates to greater financial performance, steadier future cash flow, and lower cost of debt financing. To test our hypotheses, this research employs the American Customer Satisfaction Index (ACSI) database during the period from 1994 to 2015. Furthermore, this paper controls some factors which are associated with bank loan contracting, such as loan and firm-specific characteristics. The results indicate that firms with higher customer satisfaction have lower bank loan spread, and thus a lower cost of debt. However, this association between customer satisfaction and bank loan spread is attenuated by the intensity of industry competition. The results also show that higher customer satisfaction is connected with a lower requirement for security and less financial and general covenants.
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Nien-YiLee and 李念怡. "Cost Stickiness and Bank Loan Contracting." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/266e28.
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碩士<br>國立成功大學<br>會計學系<br>105<br>Motivated by recent literature regarding that firm’s asymmetric cost behavior brings to several economic effects. This paper offers the evidence that banks will take firm’s sticky costs into consideration when pricing bank loans. To be more specific, firms with stickier cost are charged at higher loan spreads. This finding is consistent with the argument that greater decrease in cash flows due to sticky costs (when sales decline) increases the downside distribution of profit streams, thereby resulting in higher default risk. The results also indicate that the impact of cost stickiness is weaker in situations where there is a positive growth prospect about a firm’s future. Since bank loan is a major source of corporate financing for publicly traded firms, the results have important implications on our understanding of the economic consequences of asymmetric behavior of costs.
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Huang, Wen-Tsung, and 黃文聰. "The Research of Bank Loan Decision." Thesis, 1996. http://ndltd.ncl.edu.tw/handle/54033866576098903458.
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碩士<br>國立中興大學<br>企業管理學系<br>84<br>80年底新銀行陸續參與營運後,對既存的公營銀行造成競爭上的壓力,尤其
明顯表現在放款業務的競爭上.因此本研究以放款為主題,探討公民營銀行
在做放款決策時對各因素的重視程度有何差別.本研究以台北縣市內之公
民營銀行為研究對象,以問卷的方式進行調查;研究的內容包括銀行內部的
授信文化,貸款企業的營業狀況及財務狀況,以及擔保品與間接徵信方面之
考量因素.使用的研究方法有因素分析,主成份分析以及Z檢定.在公民營銀
行之比較上,本研究計有以下結論:1.在銀行內部因素的考量上,明顯的民
營銀行較公營銀行重視主觀的判斷及與貸款企業之關係;2.對於公司面因
素之評估,在事業概況方面:公營銀行較重視經營層級的信用;在經營環境
方面,公民營銀行重視的程度無顯著的不同;在產銷概況方面,公營銀行較
重視公司之存貨及品質管理情形,而民營銀行較重視的則是市場競爭及公
司的產品結構;在財務狀況方面:負債比率顯著的較受到民營銀行的重
視;3.對於擔保品與間接徵信因素之考量,公營銀行較重視的是公司過去與
銀行往來情形,而民營銀行則較重視貸款企業所提供之擔保品及主動告知
因素.
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Lee, Wu Shu, and 李文池. "A Study of Bank Loan Behavior." Thesis, 1994. http://ndltd.ncl.edu.tw/handle/71329010951308685412.
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Chen, Tzu-Wen, and 陳資雯. "Earnings Management and Bank Loan Contracting." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/70155613379720708533.
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碩士<br>國防大學管理學院<br>財務管理學系<br>101<br>Taiwanese banks have been flourishing in the growing global economy. Consequently, syndicated loans are becoming a vital bank service. In addition to generating profit, this service is a crucial factor when evaluating whether a bank has the capacity to develop internationally. Earnings management has been a popular topic in modern finance; investors perceive the earnings quality of firms as vital information. In this study, we focused on syndicated loan cases in Taiwan. We used 1,001 companies listed in Taiwan Stock Exchange as samples to examine the relationship between corporate earnings management and the conditions set forth in syndicated banking loans. The results of this study expand the knowledge regarding factors that influence how financial institutions employ certain terms in syndicated loan contracts and how they conditions for these contracts are determined.
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Jhuang, Rueishin, and 莊芮欣. "Social Network and Bank Loan Pricing." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/04364544096313279713.
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碩士<br>東海大學<br>會計學系<br>99<br>This study investigates the association between business relationships and firms’ cost of debt. It measured cost of debt in terms of bank loan interest rate, and used the relationship of supply chain and social network to measure business relationship. On supply chain perspective, if the firm’s supplier or customer has bigger size, its interest rates will be lower. The finding indicates that supplier or customer size will influence banks to decide its financing policy. Further, it compares the bank loan interest rates for the major supplier or customer of companies in foreign countries or in Taiwan. The result shows that the foreign supplier or customer will induce higher interest rates for the company. The possible reason may be the foreign suppliers or customers to be more asymmetry information for the bank. It induce bank to raise risk premium for the loan. On social network perspective, it measured social network in terms of centrality and structure holes. The empirical result indicates significant negative correlation between centrality and bank loan interest rates. Moreover, it is also significant positive correlation between structure holes and bank loan interest rates. The result reveals that during credit process banks will reduce the company's financing rates because of firm's good external relationship.
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Cheng, Ya-Hsin, and 鄭雅馨. "Analyst Overoptimistic of Bank Loan Announcement." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/87378037554317226821.
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碩士<br>國立成功大學<br>國際企業研究所碩博士班<br>96<br>Bank loan is an important source while companies need capital for their corporate purpose or investments. Previous literature suggested that bank loan financing firms experience positive announcement return, with negative long run stock performance (Billet, Flannery, Garfinkel (2006)). From Rajan and Servaes (1997) research, analyst overoptimism is one of reason to explain IPO short run positive and long run negative returns. The short and long run stock returns of bank loan financing firms are similar to IPO issuing firms. Therefore, we use analyst forecasts to explain the negative long-term performance of bank loan financing firms. In out study, we examine weather analysts overoptimistic about bank loan announcements, and testify the relationship between analyst overoptimism and long-term negative stock returns.
Our study includes 1486 bank loan announcement samples from 1997 to 2003. We use earning forecast error and long-term earning growth projections to measure analyst overoptimism, and found that analysts are overoptimistic at bank loan financing firms. Then we adopt BHAR and Calendar-time portfolios to examine the bank loan financing firms’ long run performance, and conclude that these firms may have negative long-term stock performance. Finally, we conduct forecasted industry adjusted growth quartiles model, regression model and Calendar-time portfolio regression model to testify the relationship between analysts’ overoptimism and the long-term stock performance of bank loan financing firms. This evidence indicates that firms perform poorly in the long run when analysts are more optimistic about their long run growth projections. Overall, our results show the higher analyst forecasts may lead to the lower long-term returns for bank loan financing firms.
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Yung, Kuo-Chun, and 容國峻. "Industry Concentration and Bank Loan Spread." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/61255212115663223754.
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碩士<br>國立中興大學<br>財務金融學系所<br>102<br>In this paper, we study whether the bank loan spread would be affected by the firm’s industry structure. Using HHI index as the proxy for product market competition, I find that product market competition has a positive effect on the bank loan spread. The empirical result also shows that more profitability, greater flexibility, higher growth opportunity and larger firms will be benefit a lower loan spread; and levered firms with longer loan maturity will face a higher bank financing cost. Moreover, we separate firms into two parts based on their asset size and find that in the large firms’ sample, the competition has a significantly positive effect on the bank loan spread, however, in the small firms’ sample, the result is significantly opposite.
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SUN, CHONG-YAO, and 孫崇耀. "A framework of bank loan DSS." Thesis, 1992. http://ndltd.ncl.edu.tw/handle/08930938690043346425.
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Hsieh, Chi-Yu, and 謝基佑. "Financial Crisis and Bank Loan Operation." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/48r332.
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碩士<br>國立彰化師範大學<br>企業管理學系行銷與流通管理碩士班<br>105<br>The 2008 financial crisis caused significant impacts on global financial markets, and led to enormous shocks to individual financial institutions. The study examined the effects of the 2008 financial crisis on the performance of loan operations undertaken by the Taiwanese financial industry. Using the data of loans of different types provided by Taiwanese native banks of different capital scales from January, 2005 to April, 2012, retrieved from the data base of TEJ, the study employed the methods of correlation analysis and ANOVA to examine the before-crisis and after-crisis inter-bank correlations between the loan performance of Taiwanese native banks of different capital scales and the effects of the 2008 financial crisis on the performance of loan operations undertaken by these banks.
In the study, the time-indexed real loan sequences of the banks of the study were found to follow a stable null-to-high correlation pattern in both before-crisis period and after-crisis period. As the significant interactive effects showed, the factor of the financial crisis interacted significantly with the factors of bank scale and loan type to affect the banks' loan performance in the before-crisis period and the after-crisis period.
Keywords: financial crisis, financial institution, capital scale, bank loan, consumer loan
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LIN, HSIN-YI, and 林欣儀. "Business Group and Bank Loan Contract." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/qzsz38.
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碩士<br>國立雲林科技大學<br>財務金融系<br>106<br>This study mainly discusses the degree of influence of the group's corporate structure and bank loan conditions. The empirical analysis uses Taiwan cabinet companies from 2002 to 2014. The least square method regression analysis (OLS) and Logistic regression analysis were used in the research methods, and the industry and annual fixed effects models were added. The empirical results show that: (1) Business Group have high external financing needs. (2) Business Group are considered low-risk firms, so there are better preferential conditions in bank loan contracts. The above results are in line with the expectations assumed in this paper.
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CHEN, PO-YIN, and 陳柏吟. "Geographical distance and bank loan contract." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/6266d9.
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碩士<br>國立中山大學<br>金融創新產業碩士專班<br>106<br>This study explores whether the distance between the firm and the bank will affect the loan contracts. The regression analysis use the loan spread, the use of the collateral and the value of the collateral as the dependent variable. The empirical results show that as the distance increase, the bank will require more loan spread. In addition to the likelihood of the use of the collateral will decline, and so as the value of the collateral. Furthermore, we explore how bank-related characteristics affect the choice of loans. The empirical results indicate that when banks are public shares banks, they prefer the firms which distance is nearest to be prospective borrowers. On the other hand, the loans concentration of the bank, leverage, scale, and age all significantly affect the distance which banks are willing to lend.
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ZHAN, YU-JIE, and 詹郁絜. "Female Directors and Bank Loan Costs." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/7wtyvf.
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碩士<br>國立虎尾科技大學<br>企業管理系經營管理碩士班<br>107<br>According to the literature, female executives tend to adopt more conservative accounting policies, and firms with more conservative accounting will enjoy more favorable loan contract terms (Sundera, Sunderb & Zhang, 2018). In recent years, women have received more and more attention in the workplace. Many countries have also proposed relevant regulations on quotas for female directors, including increasing the proportion of female directors and quotas for female directors. This study intends to further explore whether the existence of female directors will affect loans. cost. Our data is obtained from the data module of the Taiwan Economics Journal’s loan detail files. The sample period is from 2005 to 2017 and the final sample includes 89,548 loan contracts made by 1,293 firms. The empirical results show that, for the whole sample, the companys appointment of female directors helps to reduce the cost of loans. However, as the proportion of female directors in the company increases, it will increase the cost of loans. If the chairman of the company is a woman, it will have a negative impact on the cost of loans. In this paper, according to the strength of market competition, the sample is divided into high competition and low competition, two sub-samples. As a result, it has been found that in companies with low competition industries, the presence of female directors and the presence of female directors as chairman of the board can exert greater influence and can effectively reduce the cost of loans. The study also further analyzed the addition of missing variables and the use of instrumental variables, consistent with the original results, which also ruled out the endogeneity of the sample, followed by a test of strength and toughness, including annual effects and competition index replacement, the results and preliminary results The same, it shows that when the company has appointed female directors, it can play a more effective role in low-competition industries and effectively reduce the cost of loans.
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VY, NGUYEN TRA NGOC, and 阮茶玉薇. "Chemical release and bank loan contracts:Do banks really care about it?" Thesis, 2018. http://ndltd.ncl.edu.tw/handle/wj6ct3.
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碩士<br>元智大學<br>財務金融暨會計碩士班(財務金融學程)<br>106<br>This study examines how a firm’s pollution record is associated with bank loan contracting. We find that firms with higher level of chemical release are charged with higher loan spread. The costly effect of chemical release is more pronounced for firms with higher risk and weaker governance. Furthermore, additonal results show that polluting firms are subject to face with unfavourable non-price terms and higher future stock volatility. These evidences support the view that banks consider chemical release level to be an indirect information source for both higher credit risk and lower credit rating when making lending decisions.
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Le, Hue-Trinh, and 黎惠貞. "CEO Power and Bank Loan Covenant Restrictiveness." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/kcb6q5.
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碩士<br>元智大學<br>財務金融暨會計碩士班(財務金融學程)<br>105<br>Existing studies illustrate that the centralization of power in CEOs creates a large influence on firm performance. The CEOs are directly responsible for decision making, but whether these strategic decisions are beneficial or detrimental for the firms depends on CEOs’ perspectives of interest. One direction of making decision process of powerful CEO is high agency problem occurring when CEOs act beneficially themselves. Such a situation motivates lenders use certain mechanisms (covenants in particular) to protect their claims. Another side is the fact that when the power is used efficiently, the chief executive officers are more likely to operate firms well. Notice that lenders will satisfy with CEO’s performance, leading to the relaxation in firm monitoring. Hence, this paper’s aim is to investigate the relationship between covenants used and CEOs power affected by agency problems and working efficiency and the key concept of newly-appointed CEOs - Covenant restriction relationship. By applying the Negative Binominal regressions for different covenant restrictiveness proxies, we find that the meaning of being president and chairman or the sole director of CEOs is more robust. This suggests when CEOs are granted more than one important positions in the firms, they are more likely to support the agency problem story, leading to higher level of covenant restrictions. However, the opposite is true for the case that CEOs are also firm founders or get higher compensation compared to top five executives. The results are still the same for the estimation of early tenured CEO effects.
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Hsu, Yu-Fang, and 許瑜芳. "Credit Risk Measurement of Bank Loan Portfolios." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/81746323897966080911.
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碩士<br>輔仁大學<br>金融研究所<br>95<br>In order to adapt to the fast change of the financial environment, the Financial Supervisory Commission, Executive Yuan urges local banks to improve their risk management ability. However, most local banks are still in the initial stage of getting familiarized with credit risk models. Therefore, local banks are advised to take in the experience from the advanced credit risk models already developed by internationally acclaimed financial institutions in order to develop credit risk models suitable to their operations.
The dissertation examines small and medium-sized enterprises obligors in a certain local bank. It is attempted to calculate the default rate of every obligor by Logistic regression model and subjectively group the obligors into five ratings. Then, the mean default rate and default rate volatility of each rating are estimated before referring to the historical value of the recovery rate of the sample bank. Furthermore, the expected and unexpected losses of the loan portfolio are calculated after establishing the loss distribution according to the CreditRisk+ model developed by Credit Suisse First Boston. Finally, the credit risk of the loan portfolio is managed by using the risk contributions. The empirical results are as follows:
(1)The article used Logit model to estimate the means and standard deviations of the default rate of each credit rating. When the credit rating is 1, the mean of the default rate is 0.31% and its standard deviation is 0.0034; when the credit rating is 2, the mean of the default rate is 4.33% and its standard deviation is 0.0258; when the credit rating is 3, the mean of default rate is 19.20% and its standard deviation is 0.0528; when the credit rating is 4, the mean of default rate is 42.64 and its standard deviation is 0.0929; when the credit rating is 5, the mean of default rate is 89.66% and its standard deviation is 0.1396. As a result, it can be concluded that the worse the credit rating of a company, the bigger the default risk as well as the volatility.
(2)The portfolio loss distribution is established according to the CreditRisk+ model and the loss percentiles are procured to set up a loss control mechanism. In order to handle the expected loss of the portfolio which might happen in the future, an annual credit provision for 2,040,388 thousand dollars (7.08% of the loan amount approved) is required; in order to deal with the impact of the unexpected loss we need to raise an extra capital of 4,450,526 thousand dollars (15.44% of the loan amount approved). This is so-called “economic capital.”
(3)When eliminating the obligor with the biggest risk contribution from the portfolio, the expected loss decreased by 4.15%; the 99th percentile level diminished by 16.7%; the economic capital needed is significantly reduced by 18.3%. Lower economic capital requirements reflect lower risk of the new portfolio and wider diversification.
(4)Finally, a sensitivity analysis is conducted by inserting four different input parameters according to the CreditRisk+ model. The outcome shows that the sensitivity of credit exposure is the highest, followed by the default rate volatility. Therefore, potential unnecessary exposure can be avoided and the risk of the loan portfolio can be diversified by introducing rating exposure limits.
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HSIAO-CHUAN, TSENG, and 曾小娟. "Explore Loan Factors Related to Construction Loan-An Example of Y bank." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/d48mk8.
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碩士<br>國立臺灣科技大學<br>管理研究所<br>103<br>In this study, we try to the linkage of (1) the customers ' credit rating, (2)financial index, (3)project scheme and (4)government regulations four factors. How these factors influence the process of construction loan undertaking in bank.
The following results can provide banks to consider taking the construction loan in more objective and secure ways.
1. The construction loan is different from other loan cases, the lenders' credit rating and financial index are not the prime factors to proceed the loan.
2. Besides the "Bank loan policy", the compliance with government regulations is necessary.
3. "Construction plan", "Cost analysis","Funding resource"and "Payback plan" are four fundamental issues to secure the success of construction loan.
4. The custody program could enforce the secure of the loan.
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"Risk management in commercial loans: survey on loan diversification policies and strategies in Hong Kong." Chinese University of Hong Kong, 1994. http://library.cuhk.edu.hk/record=b5888034.
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by Fu Yuen Yeh.<br>Thesis (M.B.A.)--Chinese University of Hong Kong, 1994.<br>Includes bibliographical references (leaves [40-41]).<br>LIST OF TABLES --- p.iv<br>ABSTRACT --- p.v<br>ACKNOWLEDGEMENT --- p.vi<br>CHAPTERS Page<br>Chapter 1. --- INTRODUCTION --- p.1<br>Chapter 2. --- BACKGROUND --- p.2<br>Grouping of Loans --- p.3<br>Risk Management in Commercial Banks --- p.4<br>credit risk<br>liquidity risk<br>interest rate risk<br>fraud risk<br>Risk Management in International Banking --- p.8<br>Loan Diversification --- p.10<br>industry diversification<br>geographic diversification<br>Loan Policies --- p.15<br>Chapter 3. --- METHODOLOGY --- p.17<br>Chapter 4. --- FINDINGS AND DISCUSSIONS --- p.19<br>Respondent Profile --- p.19<br>Existence of formal loan diversification policies --- p.22<br>Credit concentration policy --- p.23<br>Diversification strategies --- p.24<br>Concentration control --- p.27<br>Currency risk --- p.28<br>Currency composition of loan portfolio --- p.29<br>Respondents' Opinion --- p.29<br>Chapter 5. --- CONCLUDING DISCUSSIONS --- p.31<br>APPENDICES<br>Chapter A.1 --- Balance Sheet: All authorised institutions<br>Chapter A.2 --- Interbank lending: by country of origin<br>Chapter A.3 --- Loans and advances analysed by currency denominations<br>Chapter A.4 --- Loans for use inside and outside Hong Kong<br>Chapter A.5 --- Questionnaire sample<br>Chapter A.6 --- Summary of questionnaire responses<br>BIBLIOGRAPHY
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Kuan-PuWang and 王冠卜. "Determinants of bank loan loss provisions for consumer mortgage loans in Taiwan." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/28074300122402398415.
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碩士<br>國立成功大學<br>財務金融研究所碩士在職專班<br>103<br>Financial Supervisory Commission of Taiwan in 2007 mandated the banks in Taiwan to disclosure the quality in mortgage loans. According to the pro-cyclical hypothesis, when the economy is in the periods of upturns, the probability of default decreases and banks will provision less on consumer mortgage loans.
The empirical results of this study indicate that, in the period from 2008Q2 to 2014Q4, loan loss provisions (LLPs) for consumer mortgage loans have no predictive power for the prices of real estate and economic conditions. It suggests LLPs for consumer mortgage loans do not support the pro-cyclical hypothesis. In this study, the empirical results also find that LLPs for consumer mortgage loan is positively related to the levels of consumer mortgage loan and non-performing loan. Finally, reverse ratio, defined as the ratio of loan loss reserves to loans, has a negative impact on loan loss provisioning by bank managers.
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Huynh, Thi Ngoc Anh. "Bank loan loss in Vietnam : a dialectical view." Thesis, 2017. http://hdl.handle.net/1959.7/uws:49637.
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Loan loss recognition and communication have been contentious issues in Vietnam recently. Before 2012, the State Bank of Vietnam and commercial banks continuously signaled that the banking system was under control, with the nonperforming loans (NPLs) ratio below 3%. However, a belief expressed through newspapers and other media was that the NPL ratio was much higher under international standards. This ratio became controversial when different figures were disclosed from different sources, and it has fluctuated strongly since 2012. The acceleration of NPLs in 2012 froze credit flows and the economy. Later, the NPL ratio steadily decreased until it reached the benchmark of 3%, which was announced as the safety level, and it has remained thus since 2014. However, many believe that the published figure of 3% represented just a part of the NPL iceberg. Most recently, the National Financial Supervisory Commission announced that the NPL was 9.5% at the end of 2017, while according to the banking industry’s report it was below 3%. Accompanying the different NPL numbers is the continuous change from 2012 to date in accounting regulation on debt classification and provisioning. That constant change represents the embarrassment of bank regulators in regulating loan loss recognition. It raises the research question why loan loss recognition and communication are contentious issues in the Vietnamese context. Answering this question is expected to equip Vietnam’s bank regulators with a theoretical basis for their decision-making in regulating loan loss recognition, and improve transparency in loan loss recognition as well. Seemingly, loan loss recognition used to be controversial in many other countries, such as Japan, the United States and China before, during and after their financial crisis. It led to the issuance of bank regulations such as Basel Accords I and II as well as new accounting standards - IAS 39 Financial Instruments: Recognition and Measurement, IFRS 7 Financial Instruments: Disclosures and IFRS 9 Financial Instruments - to resolve that controversy. Nevertheless, the phenomenon is repeated in Vietnam. It leads to the following subresearch questions: ‘Is Vietnam experiencing the same issue that occurred in other countries?’ and ‘Has Vietnam learned from history given that the country has been equipped with those new rules?’
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I-HsienCheng and 鄭義憲. "The Determinants of Bank Loan Default-The Case of Taiwan Commercial Bank." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/45345476357144028288.
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碩士<br>國立成功大學<br>國際管理碩士在職專班<br>98<br>This study examines the determinants factors of loan default in the case commercial bank in Taiwan. The result after using Logit analysis to define determinants of credit default for overall samples shows that operating cash flow ratio of the Solvency factor、 financial fee ratio of financial structure factor、organizational management、 affects by the affiliated company、 transaction credit status with bank of the management administration factor are main factors that influence credit risk. The result shows that the above factors are all critical for the bank loan will default or not.
As we know the essences of the Commercial Banks are gaining the profits from risk taking and financial services providing. A good risk control will decide the success of the banking business running and performance. Especially in the Taiwan financial market, the banking industry is owing to the highly competitive environments and dozens of banks providing the same quality financial products. The study result shows some important factors which are all significant for the bank loan default. There are the operation cash flow ratio of solvency、financial fee ratio of financial structure、Organizational management、affects by the affiliated company and transaction credit status with bank of management administration factor. I hope these results can provide as a reference for the bank administration level when granting the loan.
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Tseng, Pai-Li, and 曾百立. "Determinants of Bank Loan Interest Revenue – An Empirical Evidence of F Bank." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/a6unpm.
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碩士<br>國立中興大學<br>應用經濟學系所<br>106<br>The interest income of the lending business is the main source of traditional banking operations, revenue and profit. The government opened 16 new commercial banks in 1991, and subsequently promoted a series of financial market opening policies, including allowing trust and investment companies, credit cooperatives and SME banks to be converted into commercial banks, and allowing foreign banks to enter Taiwan''s financial markets. As of the end of 2017, according to government public information, Taiwan currently has 38 domestic banks and 29 foreign banks in Taiwan. Nowadays, the banking industry has entered a highly competitive era, crowding out the interest income of lending by individual banks.
In order to capture the factors affecting the interest income of the case bank, this study collects the overnight interest rate, the current account of the international trade balance, the amount of the consumer loan, the amount of the SME loan, the NPL ratio, the growth rate of the consumer price index, the money supply, and the industry. Production index, and foreign exchange deposits. The sample funding range is from the first quarter of 2006 to the fourth quarter of 2017.
As a result, it was found that the overnight rate of interest rate increase and the current account growth rate of international trade balances have a negative effect on the growth rate of individual banks. NPL ratio, consumer price index, money supply, industrial production index, and foreign exchange growth rate cannot be directly affected or affected by the growth rate of individual bank interest income. It is influenced or affected indirectly through.
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Lin, Huey-Ling, and 林惠玲. "The Effect of Loan Concentration to Business Groupson Bank Profitability and Loan Quality." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/42753411372404964752.
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碩士<br>國立高雄第一科技大學<br>金融系碩士專班<br>105<br>By using a sample of 31 domestic banks over the period from June 2007 to December 2015, we examine how the loan concentration to business groups affect profitability and loan quality of banks. The empirical results found that the higher the loan concentration to business groups, the lower profitability and loan quality. In addition, banks with smaller asset size, higher capital ratio and better personnel costs control efficiency have higher profitability. Banks with higher capital ratio and better personnel costs control efficiency have better loan quality. Finally, profitability and loan quality of banks during the global financial crisis significantly reduced.
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劉豐榮. "Develop Bank-Loan Risk Prediction with Data Mining." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/15253505938451742052.
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碩士<br>國立中正大學<br>資訊工程研究所<br>91<br>Financial institutes, a traditional industry in early ages, mainly specialize in attracting public deposits and then offer loans and investment services. The government carried out deregulation policies for financial institutes since 1990, market competition has become more and more furious. To meet challenges and for survival, all banks keep drawing out preferential scheme, pushing loan risk and overdue-loan ratio to hit a new record. Financial institutes have to bear lots of bad loans as a result of bubble capital resulted from Asia Financial Crisis in 1997, instability of domestic political environment, hollow-out of industries and decrease of real estate value, severely affect the property quality. Therefore, to improve their property quality, the most important movement that financial institutes have to take is to decrease loan risks and reduce bad loans. The purpose of this research is, by using data mining, to construct a Loan Risk Prediction Model as reference for financial institutes.
In this research, with the analysis variable formed by customer’s basic data and loan data, Decision Tree Classification technology is used to set up a loan risk model. Based on this, a borrowing and lending system is developed to form borrowing and lending decision-making mechanism. Test results showed that the proportion of number of bad loan accounts decreases to 12.1% (163/1345) from 21.4% (288/1345) after using the Loan Risk Model. It is obvious that the Loan Risk Model in this research can effectively predict loan risk, decrease operation crisis and improve property quality.
Keywords：Data Mining, Classification Analysis, Decision Tree
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廖雅華. "Monetary Policy Transmission Mechanism：Research on Bank Loan Portfolio." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/wufuc6.
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Sun, Hung-Ta, and 孫宏達. "The Discussion about Bank Non-Performing Loan ＆ Practical." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/48658135570438895270.
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碩士<br>大葉大學<br>事業經營研究所碩士在職專班<br>94<br>Ever since the banking deregulation took place in 1991, the number of commercial banks has increased enormously, which, in turn, has resulted in an intensive competition in Taiwan banking industry. Furthermore, the continuous economic downturn contributed to the worsening non-performing loans (NPL). Thus, the relation between NPL and a bank performance or even a bankruptcy has been taken seriously.
The fast-growing NPL in Taiwan has worsened the asset quality of banking industry and inevitably invade the profitability. An enormous amount of NPL not only make banking institutions become more conservative in granting a loan, but also impose a negative effect on a nation’s economic development. Therefore, if NPL can be recovered efficiently and managed effectively, then the banking industry will be healthier and, in turn, are more capable of making contributions to the financial stability and business developments.
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Yeh, Cheng-ching, and 葉正青. "Information Asymmetry and Credit Spread of Bank Loan." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/67660662123797199853.
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碩士<br>國立高雄第一科技大學<br>金融所<br>98<br>This study explores the relationship between asymmetric information of corporate and credit spreads of bank loans by using the data of firms listed on the Taiwan stock Exchange. The result shows that the degree of information asymmetry is positively related to credit spread of bank loans. The credit spreads caused by information asymmetry are especially large for the short-term loans. In addition, firms with higher equity risk, lower liquidity ratio, smaller size, and poor credit rating have larger credit spreads of bank loans.
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Huang, Yi Ying, and 黃怡縈. "An association between conservatism and bank loan pricing." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/09747442485190427838.
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碩士<br>國立政治大學<br>會計研究所<br>98<br>Financial statement is one of important resources to credit decisions making. Conservatism increases the quality of financial statement. Based on the definition of types of accounting conservatism, unconditional and conditional, proposed by Beaver and Ryan (2005), and the use of a sample of 5,507 firm-year financial data from 1997 to 2008, this study investigates conservatism effects on the over-loan risks from borrowers through bank loan pricing.
The primary empirical findings indicate that a significantly negative association exits between unconditional (conditional) conservatism and bank loan pricing. In addition, a significantly negative association exits between fair-value accounting and bank loan pricing, and the adoption of fair-value accounting affect the association between conditional conservatism and bank loan pricing. Moreover, the result also shows that a significantly negative association exits between unconditional conservatism and the over-loan risks. The analysis of additional tests indicates that the primary findings held when alternative measurements of interest rates are used for proxy variables for bank loan pricing and EBIT is used for proxy variables for EBITDA.
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Chou, Shih-Hsiung, and 周士雄. "The determinants of Bank Loan/Deposit interest margins." Thesis, 1999. http://ndltd.ncl.edu.tw/handle/92153990944211906220.
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Tsai, Chiao-Lin, and 蔡巧琳. "CEO Overconfidence and the Cost of Bank Loan." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/18452287148979408719.
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碩士<br>國立東華大學<br>財務金融學系<br>103<br>This paper investigates the impact of Chief Executive Officer (CEO) overconfidence on the cost of bank loan. Using a sample of the firms in the US from 1995 to 2012, we find that overconfident CEO enhance a firm’s external financing capacity by lowering the firm’s cost of bank loan. Especially, this impact is stronger for high risky purpose and medium and long term loan. In other words, the overall findings in this study suggest that the information transparency hypothesis dominates the manager optimism hypothesis in term of positive impact of CEO overconfidence on the cost of bank loan.
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Ya, Yu-Yan, and 葉瑜嬿. "Bank Loan Concentration Intensity,Financial Characteristics,and Performance." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/02468336864796346101.
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碩士<br>亞洲大學<br>財務金融學系<br>103<br>This study aims to examine risks and returns on concentrated and diversified strategies of bank lending, considering economy conditions, borrowing firms’ sensitivity to economy, and industry competition intensity. Also, the study explores the effect of bank’s abilities to credit monitoring and risk tolerance on the selection of lending strategy. This study tests three hypotheses. The first, when the economy is booming (recessionary), lending to firms with a high (low) sensitivity to economy conditions has a higher return and lower risk. Second, lending to industry with high degree of competition has a lower return and risk; and the third, bank with stronger ability to credit monitoring and weaker ability to loading risk will select a lending strategy concentrating on industries with high competition. The sample is domestic and foreign banks operating in Taiwan. Using regression analysis of yearly data from 1994 to 2013, the findings are that there is no significant effect of lending strategies on net interest profit; when the economy is booming, lending concentration on firms with low-sensitive for economy have a lower return on assets and a higher ratio of non-performing loans, while concentration on firms with high-sensitive for economy have a lower ratio of non-performing loans. This result is consistent with the prediction of the first hypothesis related to the booming economy, but the first hypothesis related to the recessionary economy does not hold. Furthermore, the second and third hypotheses are supported by the empirical evidence. Bank’s abilities to credit monitoring and risk loading influence the selection for suitable lending strategy, and it is not necessary for banks to adopt concentrated or diversified lending. The performance on lending strategy is affected by borrowing firms’ sensitivity to economy and industry competition intensity.
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Chen, Wei-sen, and 陳威森. "Leverage Buyout Value and Bank Loan Syndicate Structure." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/58195582794450910451.
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碩士<br>國立東華大學<br>財務金融學系<br>104<br>We empirically explore the effect of creditor’s monitoring role on the leverage buyouts. We show that syndicate structure has a significant impact on target announcement returns. When firms have a higher default probability, it would form a syndication with fewer lenders, which could reduce the moral hazard and adverse selection. However, we further look at the amount retained by lead arranger and the Herfindahl index of lenders’ shares, it presents a significant and negative relationship with target returns. As the increase of the risk, we find that the target returns are burdened with the monitoring costs, which are caused by the matter that lead arrangers highly keep the lending shares. In addition, we also examine the effect of foreign lenders participation. The attendance of foreign banks worsens superfluous costs and inefficient information problems, and lead to the reduction of target returns.
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Le, Quoc-Tuan, and 黎國俊. "Private benefits of control and Bank loan contracts." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/66403463703579559037.
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碩士<br>元智大學<br>財務金融暨會計碩士班(財務金融學程)<br>105<br>This research studies the effect of private benefits of control of managers and large shareholders on price and non-price terms contracting of bank loans. Using a new method of quantifying the private benefits of control based on the value of voting premium which derived from the stock options put-call parity, along with loan, firm and macroeconomic specific data for 2,391 U.S firms from 1997 to 2015, the research found that banks tend to require higher loan spread and impose more unfavorable loan terms on firms with higher degree of private benefits of control. The effect is weaker for firms in good corporate governance conditions. Evidence from the research shows the agency problem from controlling rights of entrenched large shareholders and managers and the role of banks as a corporate governance mechanism for the firms.
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Li, Yeong-Long, and 李永隆. "A Survey of Bank Loan for Urban Renew." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/58586030848330334966.
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碩士<br>中國文化大學<br>建築及都市計劃研究所<br>98<br>When urban renew is carried out, bank financing often influences the progress of urban renew. During urban renewal process, the long time required by land-obtaining always affects the working of the development capital. Then, bank loan plays a very important role in urban renewal.
Therefore, objectives of the study are: I. Through questionnaire investigation, it is to discuss the concerns and topics that are formed during different stages of urban renewal loan by the bank. II. From topics that are formed through questionnaire and issues of existed cases, it is to deduce subjects of the study, and attempt to analyze and draw countermeasures.
The study includes five chapters. In Chapter One Introduction, it mainly expounds background, motivation and objectives of the study, defines the scope and contents of the study, and then chooses study methods, and plans steps and process to carry out the study. In Chapter Two Literature Review, it includes foundation for bank loan acts; various financing evaluation principles of bank loan, financing situation and structure of urban renew implementers. Moreover, it takes literature concerning investigation methods in the thesis as basis for investigation methods of the study. In Chapter Three Empirical Investigation in Bank loan for Urban renewal, it establishes urban renewal loan structure according to study objectives, and then sets about investigation plan for the study, designs contents of questionnaire and carries out on-site investigation and statistical analysis. In Chapter Four Subjects and Countermeasures of Urban renew loan, it compares subjects that are formed through the investigation results in urban renew financing in Chapter Three with issues and subjects of existing cases, with the aim to infer urban renewal loan subjects of the study, and draw up countermeasures. Chapter Five is for Conclusions and Suggestions.
Through investigation statistics in Chapter Three and urban renew loan subjects and countermeasures in Chapter Four, two conclusions are put forth in the study as follows,
I. Four investigation results of investigation in bank loan for urban renewal.
(I) In pre-renewal stage: orders of importance of financial issues that the bank cares about the most are "integration", "risks" and "value after renewal".
(II) In reconstruction stage of renewal: the priority of financial issues the bank cares the most is, "capital", "title" and "crisis". The priority of funding issues is "other misappropriation by implementers", "inadequate capital raised by developers" and "depression or the rising price of construction materials". The priority of titles issue is "change to land ownership" and "change to implementer".
(III) In post–renewal stage: financial issues that the bank cares about the most are policyholder's "repayment source", "insurance of creditor's right" and "credit of policyholder".
(IV) For whole renewal stages: investigation results show that "pre-renewal stage" and "reconstruction stage of renewal" share the same importance.
II. Three subjects and countermeasures of bank loan for urban renewal.
(I) Subject 1: During pre-renewal stage, the most important issue is "integration" of land owners.
Countermeasure 1: Integration shall be carried out by personnel from the bank.
(II) Subject 2: During reconstruction stage of renewal, the implementer and the contractor are easily affected “price rising of construction materials” that may cause "capital problems".
Countermeasure 2: Increase raised-funds for purchase of construction materials in advance.
(III) Subject 3: During reconstruction stage of renewal, human "disasters" are usually caused by "improper construction or management" of contractor.
Countermeasure 3: Implementer shall appoint personnel to carry out sampling check on the construction site before payment and shall pay the contractor only after it is qualified in order, which is to ensure its rights and interests.
Key word: Loan, Bank loan, Urban Renew loan
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WANG, YUE-YING, and 王月英. "Dynamic Relations between Bank Profitability and Loan Quality." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/d5npg6.
Full textAbstract:
碩士<br>國立高雄第一科技大學<br>金融系碩士班<br>106<br>By using quarterly data from domestic banks in Taiwan for the period covering 2005 to 2016, the aim of paper is to examine the dynamic relationship between bank profitability (measured by return on assets (ROA) and return on Equity (ROE)) and loan quality (measured by non-performing loans (NPLs)). Econometric techniques including vector error correction model (VECM), Granger causality, impulse response functions and forecast error variance decomposition are employed to capture the the dynamic interdependencies between these two constructs. The result supports a long-run positive relationship between loan quality and profitability. We find that the lagged loan quality has a positive impact on the profitability and not vice versa. The evidence also indicates that banks’ loan quality is more relatively exogenous than their profitability.
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Wu, Tzu-Yun, and 吳芷昀. "Stock Price Crash Risk and Bank Loan Contracting." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/k8cebs.
Full textAbstract:
碩士<br>國立中央大學<br>財務金融學系<br>107<br>This paper intends to examine the association between company’s stock price crash risk and bank loan contracting. Precedent research discusses the relationship between company’s financial data, such as company’s size and profitability, and bank loan contracting. However,
there is no discussion about the relationship between firms’ stock price crash risk and loan conditions. Thus, by collecting data from Compustat, DealScan and CRSP from 1994 to 2013, we use three measures capturing company’s stock price crash risk and four features capturing all aspects of loan contracting. We find out (1) company with higher stock price crash risk only make bank loan with shorter maturity. (2) the effect of company’s stock price crash risk on the contractual terms of loans does not significantly be affected when this company has prior lending relationships with the lead banks than when it has no such prior lending relationship. (3) the effect of company’s stock price crash risk on the loan maturity is more pronounced when the company is from low concentrated industry.
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XUAN, JIANG YI, and 江奕軒. "An External Information Search System of Bank Loan." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/4e6xd7.
Full textAbstract:
碩士<br>逢甲大學<br>資訊工程學系<br>106<br>Corporate loans service is a very important part of bank revenue. For small and medium banks, they do not have as much resource as big banks to manage their credit business. In addition, their main customers are also small and medium enterprises. Due to the small operational scale and business model in small and medium enterprises, their corporate information is usually not complete and difficult to acquire. Therefore, banks must spend a lot of time and manpower to evaluate or rate such loaners’ credit. Handling a credit case in a small and medium bank often takes one to two months.
In the process of rating credit, there are many conditions that affect the rating of a corporate credit. They include the financial report, the enterprise and owner credit status, the repayment of the enterprise loan in the past, the external evaluation of the enterprise and its industry prospect. These credit rating conditions can be roughly divided into two types. One is the bank internal information, such as financial reports, repayment records, etc. The information comes from inside the bank. The other is external information, such as business and personal credit status, external evaluation of enterprises and industry. The information is collected from outside the bank and it must rely on manual work which is very time-consuming. Therefore, we hope to build an external information search system of bank loan to help improve the credit rating process.
Our system consists of three parts: external information search, keyword recommendation, and knowledge management subsystems. The external information search subsystem is used by a bank staff with various keywords to collect external information, such as evaluation of enterprises and industry. The source comes from the Internet and social networks. The keyword recommendation subsystem makes suggestions of better keywords to be used in the external information search. This subsystem analyzes popular keywords, especially from senior staff, to make recommendations. The knowledge management subsystem includes the materials for the education and training of new staff, as well as the experience sharing of senior staff. By integrating these three parts, the goal of our system is to improve the overall business performance of corporate loans service.