allocation of resources. Specifically, we investigate credit allocation decisions of banks to firms inside the network. Using a … quasi-experimental research design, we document misallocation of bank credit inside the network, with state-owned banks … engaging most actively in crony lending. The aggregate cost of credit misallocation amounts to 0.13 percent of annual GDP. Our …

elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions of banks to … firms inside the network. Using a quasi-experimental research design, we document misallocation of bank credit inside the …

firms. The study is based on the credit files of the respective firms. If no problems occur in these lending relationships …, the traditional view of credit assessment as observation of the quality of a borrower's investment programme needs to be …

of firms partially offset reduced credit supply by resorting to alternative financing sources …

How does bank distress impact their customers' probability of default and trade credit availability? We address this … bank-induced increase of firms' probabilities of default. Moreover, bailouts tend to reduce trade credit availability and …

How does bank distress impact their customers' probability of default and trade credit availability? We address this … bank-induced increase of firms' probabilities of default. Moreover, bailouts tend to reduce trade credit availability and …

lending can be explained by a shift in credit towards both export-intensive firms and small banks without foreign asset … exposure that have a higher share of exporting firms in their credit portfolio. We also find that German regions where these …

) abilities and on the sectoral concentration risk of a credit portfolio. In this paper, we examine in the first part if … cooperative banks. In the second part we measure the overall effect of better monitoring and the associated higher sectoral credit … concentrations on the credit risk of the portfolio. Our empirical results suggest that specialization benefits overcompensate the …