Previous studies show one to dual owners-that is, establishments one likewise hold security and financial obligation of the same firm-internalize the latest shareholder-creditor argument and produce bonus positioning between the two parties (Jiang mais aussi al. Yet not, minimization of your own shareholder-creditor conflict appear at the expense of opening a separate argument certainly one of creditors. Financial institutions carrying high guarantee limits into the debtor enterprises might have very more incentives than just loan providers carrying very small if any equity limits. Which argument ranging from creditors is also for this reason affect ex boyfriend-ante debt hiring and you may ex-blog post obligations renegotiation. Continue reading “Invest in Disagree: Within-Syndicate Conflict and Syndicated Loan Contracting”