We show that U.S. banks do not engage in zombie lending to firms of deteriorating profitability, irrespective of … for banks and nonbanks, and an empirical setting with quasirandom shocks to firm profitability. Although credit migrates … from banks to nonbanks, zombie firms file for bankruptcy at an elevated rate, suggesting that nonbanks' zombie lending does …

This paper examines banks' disclosures and loss recognition in the financial crisis and identifies several core issues …, banks' disclosures about relevant risk exposures were relatively sparse. Such disclosures came later after major concerns … about banks' exposures had arisen in markets. Similarly, the recognition of loan losses was relatively slow and delayed …

leveraged loans too risky for banks to keep. Syndicated lending now involves greater and greater participation by nonbank or …

loans too risky for banks to keep. Syndicated lending now involves greater and greater participation by non-bank or …

Public Sector Banks (“PSB firms”) to the new bankruptcy environment in terms of their borrowing decisions. Our results …

. We develop a repeated game in which banks come across each other frequently, allowing them to threaten a punishment in … case of free riding. As the number of lending banks grows, the chance of meeting again a bank and of being punished for … restructuring probability increases with the number of banks up to a threshold - three banks - beyond which coordination problems …