We test how active management of bank credit risk exposure affects capital structure, capital budgeting and profits. We find that banks that rebalance their Camp;I loan portfolio exposures by both buying and selling loans hold less capital and lower levels of liquid assets than other banks; they...

We test how active management of bank credit risk exposure affects capital structure, capital budgeting and profits. We find that banks that rebalance their Camp;I loan portfolio exposures by both buying and selling loans hold less capital and lower levels of liquid assets than other banks; they...

We test how active management of bank credit risk exposure affects capital structure, capital budgeting and profits. We find that banks that rebalance their Camp;I loan portfolio exposures by both buying and selling loans hold less capital and lower levels of liquid assets than other banks; they...

We study the effects of structural changes in banking markets on the supply of credit to small businesses. Specifically, we examine whether bank mergers and acquisitions (Mamp;As) and entry have quot;externalquot; effects on small business loans by other banks in the same local markets. The...

We study the dynamics of market entry following mergers and acquisitions (Mamp;As), and the behavior of recent entrants in supplying output that might be withdrawn by the consolidating firms. The data, drawn from the banking industry, suggests that Mamp;As are associated with subsequent...

We offer and test two competing hypotheses for the consolidation trend in banking using U.S. banking industry data over the period 1982-2000. Under the efficiency hypothesis, technological progress improved the performance of large, multimarket firms relative to small, single-market firms,...

This paper examines the role of relationship lending in small firm finance. We examine price and nonprice terms of bank lines of credit (L/C) extended to small firms. Our focus on bank L/Cs allows us toe examine a type of loan contract in which the bank-borrower relationship is likely to be an...

We examine the contention that as banks become larger and more organizationally complex i.e., more like universal banks they may reduce the supply of credit to small business borrowers. This would be consistent with an effort to reduce Williamson-type managerial diseconomies in providing...

We examine the effects of bank Mamp;As on small business lending using data on over 6,000 recent U.S. bank Mamp;As. We are the first to decompose the impact of Mamp;As into static effects from simply melding the antecedent institutions, and dynamic effects associated with post-Mamp;A refocusing...

We examine the effects of bank Mamp;As on small business lending. Our methodology permits empirical analysis of the vast majority of U.S. bank Mamp;As since the late 1970s -- over 6,000 Mamp;As involving over 10,000 banks (some active banks are counted multiple times). We are the first to...