-based funding opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on … bank credit conditions for issuer firms, both at the firm-bank and firm level. We compare new loans granted to issuer firms … addition, issuer firms reduce the amount of used bank credit but increase the overall amount of available external funds …

We show that FinTech lending affects credit markets and real economic activity using a unique data set of a Peer … businesses who already have access to bank credit. Firms use FinTech to obtain long-term unsecured loans and reduce their …

2014. We explore the dynamic adjustment process following this credit supply shock. In counties where the largest banks had … a high market share, the aggregate flow of small business credit fell, interest rates rose, fewer businesses expanded …, unemployment rose, and wages fell from 2006 to 2010. While the flow of credit recovered after 2010 as other lenders slowly filled …

cutting back on lending but also by reallocating credit to firms in financial distress with prior underreported loan loss … credit reallocation leads to a reallocation of production factors across firms. A partial equilibrium exercise suggests that …

bank-firm level credit data, we show that banks reallocate credit within their loan portfolio in at least three different … which they are more specialized. Third, they reallocate credit towards low-risk firms. These reallocation effects are … transmission of the funding shock to credit supply by 22, 8 and 10%, respectively. …

between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping … generations of entrepreneurs under complete and incomplete credit markets. Then, we exploit firm-level data for France, Germany … and Italy to explore the relation between bank credit and productivity following the main derivations of the model. We …