Debt, information asymmetry and bankers on board

Detalhes bibliográficos
Autor(a) principal: Amaro de Matos, João
Data de Publicação: 2015
Outros Autores: Mergulhão, João
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/82743
Resumo: We provide evidence that the presence of bankers in the board of directors reduce information asymmetry between credit markets and firms. We show that the impact of the presence of bankers on leverage is driven by firms with low level of debt. This effect is amplified the more connected the bankers are to the corporate world. Additionally the results are more pronounced for less transparent firms. Our findings suggest that the connectedness of bankers play a key role in reducing information asymmetry.
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spelling Debt, information asymmetry and bankers on boardInformation asymmetryDebt levelSocial networksCorporate boardsBankersWe provide evidence that the presence of bankers in the board of directors reduce information asymmetry between credit markets and firms. We show that the impact of the presence of bankers on leverage is driven by firms with low level of debt. This effect is amplified the more connected the bankers are to the corporate world. Additionally the results are more pronounced for less transparent firms. Our findings suggest that the connectedness of bankers play a key role in reducing information asymmetry.Nova SBERUNAmaro de Matos, JoãoMergulhão, João2019-09-30T16:43:32Z20152015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/82743engAmaro de Matos, João and Mergulhão, João, Debt, information asymmetry and bankers on board (2015). FEUNL Working Paper Series No. 597info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:36:43Zoai:run.unl.pt:10362/82743Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:36:12.609504Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Debt, information asymmetry and bankers on board
title Debt, information asymmetry and bankers on board
spellingShingle Debt, information asymmetry and bankers on board
Amaro de Matos, João
Information asymmetry
Debt level
Social networks
Corporate boards
Bankers
title_short Debt, information asymmetry and bankers on board
title_full Debt, information asymmetry and bankers on board
title_fullStr Debt, information asymmetry and bankers on board
title_full_unstemmed Debt, information asymmetry and bankers on board
title_sort Debt, information asymmetry and bankers on board
author Amaro de Matos, João
author_facet Amaro de Matos, João
Mergulhão, João
author_role author
author2 Mergulhão, João
author2_role author
dc.contributor.none.fl_str_mv RUN
dc.contributor.author.fl_str_mv Amaro de Matos, João
Mergulhão, João
dc.subject.por.fl_str_mv Information asymmetry
Debt level
Social networks
Corporate boards
Bankers
topic Information asymmetry
Debt level
Social networks
Corporate boards
Bankers
description We provide evidence that the presence of bankers in the board of directors reduce information asymmetry between credit markets and firms. We show that the impact of the presence of bankers on leverage is driven by firms with low level of debt. This effect is amplified the more connected the bankers are to the corporate world. Additionally the results are more pronounced for less transparent firms. Our findings suggest that the connectedness of bankers play a key role in reducing information asymmetry.
publishDate 2015
dc.date.none.fl_str_mv 2015
2015-01-01T00:00:00Z
2019-09-30T16:43:32Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/82743
url http://hdl.handle.net/10362/82743
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Amaro de Matos, João and Mergulhão, João, Debt, information asymmetry and bankers on board (2015). FEUNL Working Paper Series No. 597
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Nova SBE
publisher.none.fl_str_mv Nova SBE
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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