Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/261856 
Year of Publication: 
2019
Citation: 
[Journal:] BRQ Business Research Quarterly [ISSN:] 2340-9436 [Volume:] 22 [Issue:] 2 [Publisher:] Elsevier España [Place:] Barcelona [Year:] 2019 [Pages:] 137-154
Publisher: 
Elsevier España, Barcelona
Abstract: 
This paper analyses the influence of bank ownership and lending on capital structure for a sample of listed and unlisted Spanish firms in the period 2005-2012. The results suggest that bank ownership allows banks to obtain better information and reduce the agency costs of debt, as it has a positive relationship with the maturity of debt and a negative relationship with the cost of debt. These results are consistent with the predominance of the monitoring effect in bank ownership over the expropriation effect. The role of banks as shareholders and lenders also contributes to reduce agency cost of debt, as it reduces debt cost.
Subjects: 
Bank lending
Bank ownership
Debt
Debt cost
Debt maturity
JEL: 
G32
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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