The Effects of Firm Network on Banks' Portfolio Consideration
The Effects of Firm Network on Banks' Portfolio Consideration
复制标题
公司网络对银行投资组合考虑的影响
DOI：
10.2139/ssrn.2829988
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发表时间：
2015
期刊：
影响因子：
--
通讯作者：
Janet Gao
中科院分区：
文献类型：
--
作者：
Janet Gao
管理贷款组合的质量是银行贷款决定的一个重要因素，特别是当向一家公司贷款时，通过其投入-产出联系与银行现有借款人产生“信贷协同作用”。在本文中，我研究是否一个公司的连接与银行的贷款组合可以影响银行提供的借款条件，该公司。使用网络的基础上广泛的客户-供应商关系来衡量企业间的连接，我表明，与银行的贷款组合紧密相连的企业更有可能在未来从银行获得贷款，并将获得较低的利差。使用银行合并作为外源性冲击，银行与企业的连接，我表明，一家公司的增加与银行合并后，导致银行提供的贷款利差更大的减少。
Managing the quality of a loan portfolio is an important factor in bank lending decisions, especially when lending to a firm generates "credit synergy" with the bank's existing borrowers through their input-output connections. In this paper, I examine whether a firm's connection with a bank's loan portfolio can affect the borrowing conditions offered by that bank to the firm. Using a network based on extensive customer-supplier relations to measure interfirm connections, I show that firms that are closely connected with a bank's loan portfolio are more likely to receive loans from the bank in the future and will receive lower interest rate spreads. Using bank mergers as exogenous shocks to bank-firm connections, I show that a firm's increased connection with a bank following a merger leads to larger reductions in loan spreads offered by the bank.