Credit risk, owner liability, and bank loan maturities during the global financial crisis

被引：3

作者：

Duarte, Fabio Dias ^{[1
,2
]}

Matias Gama, Ana Paula ^{[3
,4
]}

Gulamhussen, Mohamed Azzim ^{[5
]}

机构：

[1] Politecn Porto, Escola Super Tecnol & Gestao, Felgueiras, Portugal

[2] CIICESI, Felgueiras, Portugal

[3] Univ Beira Interior, Estr Sineiro Polo 4, P-6200209 Covilha, Portugal

[4] NECE, Estr Sineiro Polo 4, P-6200209 Covilha, Portugal

[5] IUL, ISCTE, Lisbon, Portugal

来源：

EUROPEAN FINANCIAL MANAGEMENT | 2020年 / 26卷 / 03期

关键词：

banks; financial crisis; government policy and regulation; small firm financing; CORPORATE-DEBT MATURITY; TRADE CREDIT; SPECIFICATION; DETERMINANTS; INSTITUTIONS; INFORMATION; MARKETS; TESTS;

D O I：

10.1111/eufm.12239

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We relate credit risk and owners' personal guarantees to bank loan maturities during the global financial crisis. The findings, which remain robust to reverse causality, show that firms rated as low risk, with a strong relationship with the bank, whose owners provided personal guarantees and with large loan sizes obtained longer maturities. Banks with larger nonperforming loans provided loans with shorter maturities. Firms with low- and high-risk ratings that provided owners' personal guarantees obtained longer maturities. These findings shed additional light on the relationship between risk and loan maturities and the role of personal guarantees in reducing information asymmetries.

引用

页码：628 / 683

页数：56

共 50 条

[1] Bank loan availability and trade credit for small businesses during the financial crisis
Tsuruta, Daisuke
[J]. QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 2015, 55 : 40 - 52
[2] US bank credit spreads during the financial crisis
Spencer, Peter
[J]. JOURNAL OF BANKING & FINANCE, 2016, 71 : 168 - 182
[3] Bank credit, public financial incentives, tax financial incentives and export performance during the global financial crisis
Okafor, Luke Emeka
Bhattacharya, Mita
Apergis, Nicholas
[J]. WORLD ECONOMY, 2020, 43 (01): : 114 - 145
[4] The Global Financial Crisis and Stock Market Reaction to Bank Loan Announcements
Liu, Ming-Hua
Xu, Cherrie Chen
[J]. FRONTIERS OF BUSINESS RESEARCH IN CHINA, 2016, 10 (02) : 176 - 219
[5] Government capital injection, credit risk transfer, and bank performance during a financial crisis
Chang, Chuen-Ping
Chen, Shi
[J]. ECONOMIC MODELLING, 2016, 53 : 477 - 486
[6] RESEARCH ON THE RISK EVALUATION IN LOAN PROJECTS OF COMMERCIAL BANK IN FINANCIAL CRISIS
Qiao, Hong
Dong, Xue-Chen
[J]. PROCEEDINGS OF 2009 INTERNATIONAL CONFERENCE ON MACHINE LEARNING AND CYBERNETICS, VOLS 1-6, 2009, : 776 - +
[7] International Perspectives on Small Businesses, Bank Credit and the Global Financial Crisis
Fraser, Stuart
[J]. INTERNATIONAL REVIEW OF ENTREPRENEURSHIP, 2014, 12 (04): : 133 - 140
[8] AN ANALYSIS OF SYNDICATED LOAN ANNOUNCEMENTS DURING THE GLOBAL FINANCIAL CRISIS
Gasbarro, Dominic
Le, Kim-Song
Schwebach, Robert G.
Zumwalt, J. Kenton
[J]. JOURNAL OF FINANCIAL RESEARCH, 2017, 40 (04) : 535 - 565
[9] Complexity and bank risk during the financial crisis
Krause, Thomas
Sondershaus, Talina
Tonzer, Lena
[J]. ECONOMICS LETTERS, 2017, 150 : 118 - 121
[10] Boards of Directors and Financial Risk during the Credit Crisis
McNulty, Terry
Florackis, Chris
Ormrod, Phillip
[J]. CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW, 2013, 21 (01) : 58 - 78

← 1 2 3 4 5 →