Not logged in.
Quick Search - Contribution
Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Bank capital requirements, loan guarantees and firm performance |
| Organization Unit | |
| Authors |
|
| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
|
| Journal Title | Journal of Financial Intermediation |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 1042-9573 |
| Volume | 45 |
| Page Range | 100825 |
| Date | 2021 |
| Abstract Text | This paper studies the effects of the bank capital requirements imposed by the European authorities in October 2011 on loan collateral and personal guarantees usage to enhance capital ratios. We use detailed information on the loan contracts granted by a representative Spanish bank and several subsidiaries to nonfinancial corporations around that date. We document that personal guarantees usage increases more than that of collateral, especially at subsidiaries with lower capital ratios. However, although the former type of guarantees demonstrably disciplined firms in their risk-taking before 2011, their subsequent overuse may have blunted their impact and may have even undermined firm performance and investment. |
| Free access at | Related URL |
| Official URL | https://www.sciencedirect.com/science/article/abs/pii/S1042957319300336 |
| Related URLs |
|
| Digital Object Identifier | 10.1016/j.jfi.2019.05.002 |
| Other Identification Number | merlin-id:17808 |
| PDF File |
Download from ZORA
|
| Export |
BibTeX
EP3 XML (ZORA)
|