We empirically examine the impact of bank consolidation on bank acquisition of soft information about borrowers. Using a dataset of small business financing, we find that mergers of small banks have a negative impact on soft information acquisition, whereas mergers of large banks have no impact....

We find firms which successfully obtained a bank loan in a crisis period reduced their cash holdings post-crisis, using Japanese data from the 2008 financial crisis. Firms received loans primarily from non-main banks. These in-crisis loans reduced cash holdings afterwards. We observe this...

In this paper, we provide an empirical analysis of evolving networks of successful R&D collaborations in the IT industry in the U.S. between 1985 and 1995. We first show that the network has become more extensive, more clustered, and more unequal in the sense that 'stars' have emerged in the...

We find firms which successfully obtained a bank loan in a crisis reduced their cash holdings post-crisis, using Japanese data from the 2008 financial crisis. Firms received loans primarily from non-main banks. This substitution between borrowing and cash holdings applies to firms with an...