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Government guarantees and bank risk taking incentives

Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - 2014

This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of guarantees for German Landesbanken which results in lower credit ratings, higher funding costs, and a loss in franchise value. This removal was announced in 2001, but...

Persistent link: https://www.econbiz.de/10010257239

The impact of peer-to-peer lending on small business loans

Kim, Jin-hyuk; Stähler, Frank - 2020

We investigate the impact of peer-to-peer lending on the small business loans originated by US depository institutions that are subject to the Community Reinvestment Act. We present a model where a borrower can choose between a traditional bank and a crowdlending platform and show that the entry...

Persistent link: https://www.econbiz.de/10012212849

Drivers and obstacles to banking SMEs : the role of competition and the institutional framework

Torre, Augusto de la; Martínez Pería, María Soledad; … - 2009

foster SME lending and attention has focused on improving the institutional environment, such that the financial system is … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what … and retail sectors. They perceive the SME market as highly profitable, large, and with good prospects. Moreover, banks are …

Persistent link: https://www.econbiz.de/10003850504

All you need is cash : corporate cash holdings and investment after the global financial crisis

Joseph, Andreas; Kneer, Christiane; Horen, Neeltje van - 2021

Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while cash-poor rivals reduced theirs. This gave...

Persistent link: https://www.econbiz.de/10012509557

Racial disparities in access to small business credit : evidence from the paycheck protection program

Howell, Sabrina T.; Kuchler, Theresa; Snitkof, David; … - 2021

We explore the sources of racial disparities in small business lending by studying the $806 billion Paycheck Protection Program (PPP), which was designed to support small business jobs during the COVID-19 pandemic. PPP loans were administered by private lenders but federally guaranteed, largely...

Persistent link: https://www.econbiz.de/10012643529

The effects of COVID-19 on U.S. small businesses: evidence from owners, managers, and employees

Alekseev, Georgij; Amer, Safaa; Gopal, Manasa; Kuchler, … - 2020

We analyze a large-scale survey of owners, managers, and employees of small businesses in the United States to understand the effects of the early stages of the COVID-19 pandemic on those businesses. The survey was fielded in late April 2020 among Facebook business page administrators, frequent...

Persistent link: https://www.econbiz.de/10012291877

Gender, access to finance, occupational choice, and business performance

Gazanchyan, Nelli S.; Hashimzade, Nigar; Rodionova, Yulia; … - 2017

model using firm-level data for 28 emerging economies in Europe and Asia; the effect is especially strong in the small and …

Persistent link: https://www.econbiz.de/10011610923

Marketplace lending of SMEs

Cumming, Douglas J.; Hornuf, Lars - 2020

absent in these markets. We introduce a dataset of 414 SME marketplace loans and 8,236 online loan days to test these …

Persistent link: https://www.econbiz.de/10012166027

Small firms and domestic bank dependence in Europe's Great Recession

Hoffmann, Mathias; Maslov, Egor; Sørensen, Bent E. - 2019

Small businesses (SMEs) depend on banks for credit. We show that the severity of the Eurozone crisis was worse in countries where firms borrowed more from domestic banks ("domestic bank dependence") than in countries where firms borrowed more from international banks. Eurozone banking...

Persistent link: https://www.econbiz.de/10012119808

Local capital scarcity and small firm growth : evidence from real estate booms in China

Hau, Harald; Ouyang, Difei - 2019

In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small manufacturing firms and undermine their competitiveness. Using exogenous variation in the administrative land supply across 172 Chinese cities, we show that higher predicted real...

Persistent link: https://www.econbiz.de/10012120233

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