International Lending: The Role of Lender's Home Country
研究发现，当贷款人来自债权人权利更强的国家时，可以部分弥补借款人国家债权人权利薄弱的不足，从而促进跨国贷款。
Abstract The multinational syndicated loan market has crossed the $7 trillion threshold. Prior literature argues that weak borrower country's creditor rights is the main limiting factor to cross‐border lending. We find that lender country's creditor rights can partly substitute for weak borrower creditor rights if a lender is from a better creditor rights country. Our results are robust to controlling for a borrower's country laws, its foreign assets, the loan guarantees provided by its foreign parent, and its choice set of lenders.