Eufinger, Christian; Gorostiaga, Juan Pablo; Richter, Björn - 2023
, exploiting exogenous changes in banks' political connections for variation in bailout expectations. At the bank level, we find … that higher bailout probabilities are associated with higher portfolio concentration. At the bank-loan class level, we find … that banks respond to an increase in their bailout expectations by further loading up on loan classes that already have a …