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Long-Lasting Bank Relationships and Growth of Firms

Gambini, Alessandro - 2010

A puzzling but consistent result in the empirical literature on banking is that firms with close bank ties do not grow faster than bank-independent firms. In this paper, we reconsider the link between relationship lending and firms' growth, distinguishing firms by size and “health”. The idea...

Persistent link: https://www.econbiz.de/10013141411

SMEs and Access to Bank Credit : Evidence on the Regional Propagation of the Financial Crisis in the UK

Degryse, Hans - 2015

We study the sensitivity of banks' credit supply to small and medium size enterprises (SMEs) in the UK to banks' financial condition before and during the financial crisis. Employing unique data on the geographical location of all bank branches in the UK, we connect firms' access to bank credit...

Persistent link: https://www.econbiz.de/10013019405

Competition and Relationship Lending : Friends or Foes?

Presbitero, Andrea; Zazzaro, Alberto - 2021

Recent empirical findings by Elsas (2005) and Degryse and Ongena (2007) document a U-shaped effect of market concentration on relationship lending which cannot be easily accommodated by the investment and strategic theories of relationship lending. In this paper, we suggest that this...

Persistent link: https://www.econbiz.de/10013316197

How Has the Global Financial Crisis Affected Syndicated Loan Terms in Emerging Markets? Evidence from China

Caporale, Guglielmo Maria - 2015

This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks...

Persistent link: https://www.econbiz.de/10013021756

Drivers and Obstacles to Banking SMEs : The Role of Competition and the Institutional Framework

Torre, Augusto de la - 2009

foster SME lending and attention has focused on improving the institutional environment, such that the financial system is … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what … and retail sectors. They perceive the SME market as highly profitable, large, and with good prospects. Moreover, banks are …

Persistent link: https://www.econbiz.de/10013159698

Supply Chain Finance and SMEs : Evidence from International Factoring Data

Auboin, Marc - 2016

The unbundling of trade across regions offers unique opportunities for SMEs to integrate into global trade notably through their involvement into supply-chains. With supply-chains shifting and expanding into new regions of the world, the challenge for SMEs to accessing financing remains an...

Persistent link: https://www.econbiz.de/10012982262

Leaning Against Windy Bank Lending

Melina, Giovanni - 2015

Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provides evidence that monetary policy reacted to bank loan growth in the US during the Great Moderation. It then shows that the optimized simple interest-rate rule features virtually no response to...

Persistent link: https://www.econbiz.de/10013023182

Self-Fulfilling Credit Cycles

Azariadis, Costas - 2015

In U.S. data 1981–2012, unsecured firm credit moves procyclically and tends to lead GDP, while secured firm credit is acyclical; similarly, shocks to unsecured firm credit explain a far larger fraction of output fluctuations than shocks to secured credit. In this paper we develop a tractable...

Persistent link: https://www.econbiz.de/10013024359

Loan Supply Shocks During the Financial Crisis : Evidence for the Euro Area

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2021

This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the macroeconomic effects of adverse loan supply shocks, which...

Persistent link: https://www.econbiz.de/10013316038

The Great Mortgaging: Housing Finance, Crises, and Business Cycles

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2014

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the course of the 20th century, driven by a sharp rise of...

Persistent link: https://www.econbiz.de/10010948836