temporary reduction in firm credit. Using bank-firm matched data, this paper investigates the impact of M&As involving Italian …The literature has shown that in the short- and medium-term bank mergers and acquisitions (M&As) may generate a … banks over the period 2009-2019 on credit to firms, exploring possible heterogeneities across several dimensions. During a 3 …

loans and defaults, we estimate models of demand for credit, loan use, pricing, and firm default. We find evidence of …

credit. We estimate a structural model of credit demand, loan use, pricing, and firm default using matched firm-bank data … from Italy. We find evidence of adverse selection in the form of a positive correlation between the unobserved determinants … of demand for credit and default. Our counterfactual experiments show that while increases in adverse selection increase …