Three essays on debt pricing

Research output: ThesisDoctoral ThesisInternal

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Abstract

The dissertation focuses on debt pricing. Main findings suggest that banks and non-bank lenders have different pricing behaviour in the presence of informational frictions associated with geographical distance in the commercial mortgage-backed securities (CMBS) market: The distance is priced by banks, but not by non-bank lenders. The findings shed light on loan pricing practices of different types of lenders and provide evidence that risk considerations are not the same across lenders. Moreover, findings of the dissertation show that signalling through disclosure lowers the firms’ cost of debt in the syndicated loan market and in the green bond market.
Original languageEnglish
Awarding Institution
  • Maastricht University
Supervisors/Advisors
  • Bos, Jaap, Supervisor
Award date1 Sep 2020
Place of PublicationMaastricht
Publisher
Print ISBNs9789463808644
DOIs
Publication statusPublished - 2020

Keywords

  • asymmetric information
  • signalling
  • debt pricing
  • spread

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