João Santos - Academia.edu (original) (raw)
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Papers by João Santos
Mutation Research/Fundamental and Molecular Mechanisms of Mutagenesis, 1997
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to s... more Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank of Cleveland or of the Board ...
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
ABSTRACT We use the Shared National Credit data on syndicate loans to investigate U.S. firms’ ref... more ABSTRACT We use the Shared National Credit data on syndicate loans to investigate U.S. firms’ refinancing behavior over the last two decades. As credit conditions tighten, refinancing likelihood goes down and draw down on loan commitments increases sharply. Surprisingly, refinancing propensity is most sensitive to credit market conditions for credit worthy firms. We show that this is a result of active maturity management by credit worthy firms to avoid being exposed to liquidity risk. Credit worthy firms refinance early at a significantly higher rate when credit conditions are good in order to keep the effective maturity of their loans long. They can then afford to refinance at a lower rate when credit conditions tighten. We show that these results are driven by variation in credit market conditions and not business cycle fluctuation.
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
... João AC Santos¤ Federal Reserve Bank of New York May 2001 Abstract We show that e±ciency is g... more ... João AC Santos¤ Federal Reserve Bank of New York May 2001 Abstract We show that e±ciency is greater when financial institutions si-multaneously offer different products, such as banking, insurance and investment banking (cross selling). ...
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SSRN Electronic Journal, 2000
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Mutation Research/Fundamental and Molecular Mechanisms of Mutagenesis, 1997
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to s... more Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank of Cleveland or of the Board ...
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
ABSTRACT We use the Shared National Credit data on syndicate loans to investigate U.S. firms’ ref... more ABSTRACT We use the Shared National Credit data on syndicate loans to investigate U.S. firms’ refinancing behavior over the last two decades. As credit conditions tighten, refinancing likelihood goes down and draw down on loan commitments increases sharply. Surprisingly, refinancing propensity is most sensitive to credit market conditions for credit worthy firms. We show that this is a result of active maturity management by credit worthy firms to avoid being exposed to liquidity risk. Credit worthy firms refinance early at a significantly higher rate when credit conditions are good in order to keep the effective maturity of their loans long. They can then afford to refinance at a lower rate when credit conditions tighten. We show that these results are driven by variation in credit market conditions and not business cycle fluctuation.
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
... João AC Santos¤ Federal Reserve Bank of New York May 2001 Abstract We show that e±ciency is g... more ... João AC Santos¤ Federal Reserve Bank of New York May 2001 Abstract We show that e±ciency is greater when financial institutions si-multaneously offer different products, such as banking, insurance and investment banking (cross selling). ...
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
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