Showing 1 - 10 of 1,083
When contemplating Chapter 11, firms often need to seek financing for their continuing operations in bankruptcy. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor-in-possession (DIP) lenders. These inducements can be...
Persistent link: https://www.econbiz.de/10012828010
This paper studies the patterns of internal liquidity management and their effect on bank lending, using a novel branch-level dataset of Brazilian banks. Our results suggest that internal liquidity management increases during times of financial stress. Privately owned banks are most affected by...
Persistent link: https://www.econbiz.de/10014121465
We investigate whether and how financial constraints of private firms depend on bank lending behavior. Bank lending behavior, especially its scale, scope and timing, is largely driven by bank business models which differ between privately owned and state-owned banks. Using a unique dataset on...
Persistent link: https://www.econbiz.de/10013038432
This paper investigates the firm-main bank relationship in a sample of Italy's SMEs. The findings suggest that banks lend to SMEs via different lending technologies. These results support the hardening-of-soft-information view, whereby also transactional lenders might somehow use difficult to...
Persistent link: https://www.econbiz.de/10013119122
We analyze the causal effect of the credit supply shock to banks induced by interbank market disruptions in the recent financial crisis 2008/2009 on their business customers' innovation activity. Using a matched bank-firm data set for Germany, we find that having relations with a more severely...
Persistent link: https://www.econbiz.de/10012926239
Using a large database built from the credit files of UniCredit we focus on loans to small businesses at the peak of the crisis. We study the determinants of the worsening of financial tension up to March 2009 for those customers experiencing (or close to) financial tension already at the end of...
Persistent link: https://www.econbiz.de/10013110843
Using firm-level data from surveys and financial statements, this paper presents an analysis of credit standards, capital allocation and financial conditions of non-financial enterprises in Denmark since the beginning of the financial crisis. The analysis indicates that low interest rates and...
Persistent link: https://www.econbiz.de/10011489436
We analyze the causal effect of the credit supply shock to banks induced by interbank market disruptions in the recent financial crisis 2008/2009 on their business customers’ innovation activity. Using a matched bank-firm data set for Germany, we find that having relations with a more severely...
Persistent link: https://www.econbiz.de/10011798962
We classify a large sample of banks according to the geographic diversification of their international syndicated loan portfolio. Our results show that diversified banks maintain higher loan supply during banking crises in borrower countries. The positive loan supply effects lead to higher...
Persistent link: https://www.econbiz.de/10011857209
Exploiting legal reforms that facilitate the use of movable assets as collateral in secured debt transactions, we examine the impact of access to bank credit on corporate innovation. We create a firm-level panel data set on patenting activities for 45,325 firms across 30 European countries from...
Persistent link: https://www.econbiz.de/10012833151