Political sentiment and syndicated loan borrowing costs of multinational enterprises
Journal of International Financial Markets, Institutions and Money(2022)
Abstract
•We show that firms with higher political exposure have a higher cost of lending.•We find that multinational corporations (MNEs) can mitigate political exposure through their subsidiaries.•MNEs with a larger presence in more countries are less affected by political uncertainty.•Political uncertainty affects MNEs with a greater number of foreign subsidiaries less.
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Key words
Political sentiment,Syndicated loans,Multinationals,International diversification
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