Bank capital requirements, loan guarantees and firm performance
نویسندگان
چکیده
This paper studies the effects of bank capital requirements imposed by European authorities in October 2011 on loan collateral and personal guarantees usage to enhance ratios. We use detailed information contracts granted a representative Spanish several subsidiaries nonfinancial corporations around that date. document increases more than collateral, especially at with lower However, although former type demonstrably disciplined firms their risk-taking before 2011, subsequent overuse may have blunted impact even undermined firm performance investment.
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ژورنال
عنوان ژورنال: Journal of Financial Intermediation
سال: 2021
ISSN: ['1042-9573', '1096-0473']
DOI: https://doi.org/10.1016/j.jfi.2019.05.002