Essays on Global Corporate Banking

  • Mohammed Saharti

    Student thesis: Doctoral ThesisDoctor of Philosophy


    Syndicated loans are an important source of external finance for a firm’s financing. In 2019, global syndicated loans volume was about 41% of the total funds raised from capital markets, the second-highest source of external finance after bonds. Over the first nine months of 2021, $4 trillion was disbursed through syndicated lending. Given importance of syndicated loans, we take a holistic approach and start this thesis with a citation-based comprehensive systematic literature review (SLR) of the syndicated loan market. Therefore, in this this we fill the knowledge gap by first surveying a comprehensive SLR. This helps us in highlighting some areas that need to be explored. Second we study the effect of bank mergers and acquisitions (M&As) on borrowers syndicate structure and the testing of bank–firm relationships. Finally, we explore the impact of environmental, social, and governance (ESG) factors on the cost of capital for firms and the structure of syndicate loans.
    Date of AwardJan 2023
    Original languageEnglish
    SupervisorSajid Chaudhry (Supervisor) & Rakesh Bissoondeeal (Supervisor)

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