Managerial ability and Bank loan contracts

• Main Authors: Ming-Yang Lin, 林銘洋
• Other Authors: Chih-Yung Lin
• Format: Others
• Language: en_US
• Online Access: http://ndltd.ncl.edu.tw/handle/58077969665236528170

碩士 === 元智大學 === 財務金融暨會計碩士班(財務金融學程) === 103 === This research examines the relationship between managerial ability and bank loan contracts. We find managerial ability can reduce cost of bank loan and enhance loan maturity and loan size (managerial effect). Moreover, we add the general managerial ability and CEO risk-taking incentive, and the results show general managerial skills can enhance managerial effect and further reduce the cost of bank loan. However, Delta will reduce the managerial effect and increase the bank loan spread. We didn't get the explicitly relationship when we consider Vega. Finally, we examine several robustness check of managerial ability and cost of bank loan including crisis periods, collateral requirement and different industry.