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. Although global bank lending is often reported to amplify the international credit cycle, we show that foreign banking acted as …
Persistent link: https://www.econbiz.de/10011507853
This paper investigates investment strategies that exploit the low-beta anomaly. Although the notion of buying low-beta stocks and selling high-beta stocks is natural, a choice is necessary with respect to the relative weighting of high-beta stocks and low-beta stocks in the investment...
Persistent link: https://www.econbiz.de/10011446594
bank an incentive to offer more credit lines than it would optimally want to support, fully drawn, on its balance sheet. I … signal of firm quality to the market yet face low or zero capital requirements under Basel I and II. A bank has an incentive …
Persistent link: https://www.econbiz.de/10013129065
While banks may change their credit supply due to bank balance-sheet shocks (the local lending channel), firms can … dynamics nullify the strong local (bank-level) lending channel of securitization on credit quantity for firms with multiple … expansion on the extensive margin towards first-time bank clients, which are more likely to default. Finally, the 2008 …
Persistent link: https://www.econbiz.de/10013119808
bank activity, and the role of the new bank capital requirements to promote the innovative financial scheme.In the project …. It means that the usual bank rating models for lending business might not been implemented in the project finance lending …
Persistent link: https://www.econbiz.de/10013087567
better management practices enhance a firm's external financing capacity by lowering the firm's cost of bank loan. We do not …
Persistent link: https://www.econbiz.de/10013091343
This paper investigates SME financing in Italy. The literature distinguishes between two main different lending technologies (LTs) for SMEs: transactional and relationship LTs. We find that banks lend to SMEs by using both LTs together, independently of the size and proximity of borrowers....
Persistent link: https://www.econbiz.de/10013065752
We study the existence and economic significance of bank lending channels that affect employment in U.S. manufacturing … industries. In particular, we address the question of how a dramatic worsening of firm and consumer access to bank credit, such … access to bank loans matters more for employment than firm access to local bank loans. Our results suggest that, over the …
Persistent link: https://www.econbiz.de/10013073708
Both borrowers and lenders can be socially responsible (SR). Ethical banks commit to financing only ethical projects, which have social profitability but lower expected revenues than standard projects. Instead, no credible commitment exists for SR borrowers. The matching between SR borrowers and...
Persistent link: https://www.econbiz.de/10013000438
The purpose of this note is to point out an omission in an important paper by Sharpe (1990) on long-term bank …
Persistent link: https://www.econbiz.de/10012838917