Firm prestige reduces the cost of bank loans. Specifically, when borrowers are included in Fortune鈥檚 list of 鈥楢merica鈥檚 Most Admired Companies' (MAC), their loan costs decline by approximately 12.3 bps on average. The effect appears causal. The negative relation between prestige and loan ...
Firm prestige reduces the cost of bank loans. Specifically, when borrowers are included in Fortune's list of "America's Most Admired Companies" (MAC), their loadoi:10.2139/ssrn.3574661Dai, YunhaoRau, P. RaghavendraTan, WeiqiangSocial Science Electronic Publishing...