We study the magnitude and nature of racial disparities in the U.S. small business credit market. Exploiting a unique dataset containing rich loan contract information, including firm and lender characteristics, we document sizable racial differentials in small business lending, measured by loan...

We analyze the relation between comprehensive measures of board quality and the cost as well as the non-price terms of bank loans. We show that firms with higher quality boards and even a single (non-insider) advisory board member borrow at lower interest rates. This relation exists even after...

This paper explores the spillover effects of Hurricane Katrina on corporate bonds through the liquidations of bond holdings by property and reinsurance companies exposed to the Katrina shock. We find that the sales of exposed property and reinsurance companies create a persistent negative price...

Credit risk management is an important aspect for a banking institution. This study attempted to investigate the impact of bank-specific factors and macroeconomic factors that will affecting credit risk of Bank of Ayudhya in Thailand. This study employed multi regression analysis from the year...

The purpose of this study to examine the performance of HSBC Bank with specific factors and macroeconomic variable influence on credit risk, the data was obtained from the annual report from year 2013 to 2017 of HSBC Bank. This study using a descriptive analysis such as credit risk, liquidity...

We document the structure of firm-bank relationships across eleven euro area coun- tries and present new stylised facts using data from the Eurosystem credit registry - AnaCredit. We look at the number of banking relationships, reliance on the main bank, credit instruments, loan maturity, and...

This paper investigates credit allocation before and after the 2003 banking system reform in China. We find that relationships between earnings quality and new short-term loans, long-term loans and total loans in listed companies changed significantly after the banking system reform, especially...

This paper investigates how lending relationships attenuate the conflict of interest between creditors and shareholders that arises from CEO compensation contracts. We find that lending relationships mitigate the influence of CEO risk-taking incentives on loan spreads, especially for...

This paper examines the feedback effect between trading in financial markets and bank loan contracting. We find that banks charge higher loan rates for borrowers with higher short selling activities. This result is robust to various identification tests and robustness checks. We further find...

We study how lender-shareholder distance affects loan contract terms. We hypothesize that an increase in lender-shareholder distance aggravates the lender's information asymmetry vis-à-vis shareholders by making it difficult to observe shareholders' risk preferences and their influence on...