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    政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 >  Item 140.119/49646
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/49646

    Title: 資訊不對稱下銀行往來關係對聯合貸款條件之影響 以台灣聯合貸款市場為例
    Bank-firm relationship and syndicate loan contract terms under information asymmetry Evidence from Taiwan syndicate loan market
    Authors: 許奇民
    Contributors: 張元晨
    Keywords: 聯合貸款
    syndicate loan
    Date: 2009
    Issue Date: 2010-12-08 15:46:30 (UTC+8)
    Abstract: 有鑒於「聯合貸款」之特殊結構所衍生出的「借款公司」與「主貸銀行」間的資訊不對稱問題,在此資訊不對稱的前提之下,銀行往來關係便顯得重要,「主貸銀行」透過往來關係的建立來蒐集「借款公司」之私有資訊,進而將其反映在「聯合貸款」的條件之上,如借款利率、借款金額及抵押品的要求。然而已存的研究通常使用LPC或Dealogic為其研究資料來源,但是此二資料庫皆以「聯合貸款」資料為大宗,所包含的「一般貸款」資料相對較少,在此情況之下,所能夠衡量的往來關係強度有其侷限性,因此本研究加入台灣經濟新報 ( TEJ ) 所收錄之台灣借款公司之一般貸款資料,重新加以衡量「主貸銀行」與「借款公司」間往來關係強度,並以此作為衡量兩者之間資訊不對稱的嚴重程度。本研究發現,當「主貸銀行」與「借款公司」的往來關係長度越長時,銀行將提供更大的貸款金額,在擔保品的要求上亦將較為寬鬆,但在借款利率的影響上則較不顯著。
    This paper empirically explores the issues in the syndicate loan markets, with an emphasis on how information asymmetry between lenders and borrowers influences syndicate contract terms, which include loan price, loan amount and collateral requirement. Existing literature uses LPC and Dealogic datasets to estimate bank-firm relationship, but most of the loan data in these two datasets are syndicated loans and bilateral loan data is relatively sparse. I use Taiwan’s data which contain many bilateral loan data to re-estimate bank-firm relationship in this thesis. The empirical results show that, borrowing from relationship lender increases loan amount and decreases collateral requirement but the effect on loan price is insignificant in Taiwan.
    Reference: 中文部分
    1. 王俊智, 2004,”台灣聯貸市場利率與參貸家數之決定因素-以上市、櫃公司為例”國立中山大學財務管理學系研究所
    2. 中央銀行經濟研究處2010年4月發行的中華民國台灣地區金融統計月報
    3. 陳家彬與賴怡洵, 2003 ,”銀行往來關係和授信行為之研究”經濟論文,第31卷第3期,499-539
    4. 陳家彬、賴怡洵與許茲盈, 2004 ,”商業銀行關係放款之實證研究”財務金融學刊,第12卷第2期,43-85
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    Description: 碩士
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0097357022
    Data Type: thesis
    Appears in Collections:[財務管理學系] 學位論文

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