The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank …-firm relationship and show that the bank's decision to liquidate bad firms has two opposing effects. First, the bank gets a payoff if a …

We study the influence of bank competition on U.S. public borrowers' accounting conservatism by exploiting the … threat of new bank entrants and competition. We find that borrowers' conditional conservatism fell after IBBEA adoption … located in states with weak incumbent banks, relying more on bank loans, and having fewer large shareholders and analysts to …

We show that competition adversely affects the ''specialness'' of bank lending. In particular, we observe that the … deregulate interstate branching. The negative effect of competition on the value of bank loans is present only for ex-ante opaque … positive abnormal return on the borrowing firm's stock after the announcement of a bank loan is reduced in US states that …

This paper addresses the desirability of competition in banking industry. In a model where banks compete on both … three questions: what are the effects of competition on banks' monitoring incentives? Does competition hurt banks' stability …? What can be devices to correct potential negative effects of competition vis à vis financial stability? We find that …

We find that competition from payday lenders leads depository institutions to raise overdraft fees and reduce the … illuminate competition and pricing frictions in the large, yet largely unstudied, small-dollar loan market …

, we show that fintech loans to entrepreneurs are more likely to be unsecured and short-term while bank loans are expected …