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This paper studies how access to bank lending differed between family and non-family firms in the 2007-2009 financial … borrower-lender relationship. Using highly detailed data on bank-firm relations, we exploit the reduction in bank lending in … differences between the two types of firms and to time-varying bank fixed effects. We further show that the difference in the …
Persistent link: https://www.econbiz.de/10010755788
In this paper we study how access to bank lending during the recent financial crisis differed between family and non … firms and to bank-specific shocks. In line with our prior, banks that increased the role of soft information in their …
Persistent link: https://www.econbiz.de/10010610580
Using a proprietary database from a large Chinese state-owned bank, we examine whether information evolved from banking … relationships predicts commercial loan default by industrial firms. We find that the bank's relationship information is … relationship. Our findings indicate that, at least in the emerging markets, a bank's relationship information still matters for …
Persistent link: https://www.econbiz.de/10013063634
This paper attempts to investigate the impact of credit information sharing on bank-specific stock price crash risk …
Persistent link: https://www.econbiz.de/10012926760
When designing schemes to help SMEs survive crises, the government typically faces asymmetric information, so that it cannot target the SMEs most worth saving. We show that the government can exploit the information in the borrower loan demand to improve policy targets compared with existing...
Persistent link: https://www.econbiz.de/10012665866
We studied information and interaction processes in six lending relationships between a universal bank and medium sized …, bank monitoring is based mainly on cheap, retrospective and internal data. In case of distress, more expensive, prospective … firm's investments might leave the bank in a very strong bargaining position and distort investment incentives. Therefore …
Persistent link: https://www.econbiz.de/10009768853
Using firm-level data from surveys and financial statements, this paper presents an analysis of credit standards, capital allocation and financial conditions of non-financial enterprises in Denmark since the beginning of the financial crisis. The analysis indicates that low interest rates and...
Persistent link: https://www.econbiz.de/10011489436
. Using rich data on firm-bank relationships in Germany, we show that: Firstly, intangible assets can be used to proxy … significantly determines firms' choice of an exclusive and persistent bank relation. Finally, relationship banking is (potentially …
Persistent link: https://www.econbiz.de/10013005257
Zombie firms may adversely impact healthy firms through several transmission channels. Besides real spillover effects on productivity or investment, zombies may also cause negative financial spillover effects, where zombies receive credit at more favourable conditions than healthy firms. We...
Persistent link: https://www.econbiz.de/10014309045
By applying factor analysis to unique data on loan screening for small and medium-sized enterprises (SMEs) in Japan, we investigate the factors that banks actually evaluate when underwriting commercial loans. We find that banks emphasize three factors when they decide whether to grant loans: the...
Persistent link: https://www.econbiz.de/10013117601