restrictive bank loan supply shock has a strong and persistent negative impact on real GDP and the GDP deflator. This result comes … "spare tire" for the reduction in bank loans. We show that this result can be rationalized by a recently revived view of … the act of lending. Consequently, our findings indicate that a substitution of bank loans by other sources of financing …

effect of diversification on the cost of a bank loan is channeled primarily through coinsurance in investment opportunities … corporate diversification strategy as an identification tool for organizational structure, we find that diversified firms have … and cash flows and that the effect is nonlinear: as the extent of corporate diversification grows, the cost …