Ongena, Steven; Popov, Alexander; Udell, Gregory F. - In: Journal of Financial Economics 108 (2013) 3, pp. 727-750
This paper provides the first empirical evidence that bank regulation is associated with cross-border spillover effects through the lending activities of large multinational banks. We analyze business lending by 155 banks to 9,613 firms in 1,976 different localities across 16 countries. We find...