The Right to Decide and the Effective Control Over Small Business Lending Decisions: A Look into Loan Officers’ Real Authority
The Right to Decide and the Effective Control Over Small Business Lending Decisions: A Look into Loan Officers’ Real Authority
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决定权和对小企业贷款决策的有效控制：贷款官员的真实权力探究
DOI：
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发表时间：
2017
期刊：
影响因子：
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通讯作者：
Paolo Emilio Mistrulli
中科院分区：
文献类型：
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作者：
Michele Benvenuti;L. Casolaro;Silvia Del Prete;Paolo Emilio Mistrulli
大量文献强调，小银行在向小企业贷款方面具有比较优势。在本文中，我们表明，除了银行规模，信贷人员的权威影响银行专业化的小企业贷款。通过使用一个独特的数据集的基础上，意大利银行的调查，我们发现，信贷人员的权力有一个关键的作用，在解释银行专业化的小企业贷款。特别是，将更多决策权下放给信贷人员的银行比其他银行更愿意向小企业贷款。我们使用几个代理来衡量贷款官员的权威’：它们在批准贷款和确定贷款利率方面的酌处权、它们被允许自主贷款的金额、它们的营业额、它们的补偿计划以及用于筛选和监测目的的信息种类（软信息还是硬信息）。
A vast literature has emphasised that small banks are at a comparative advantage in lending to small businesses. In this paper, we show that, in addition to bank size, loan officers’ authority affects banks’ specialisation in small business lending. By using a unique dataset based on a survey of Italian banks, we find that loan officers’ authority has a key role in explaining bank specialisation in small business lending. In particular, banks that delegate more decision‐making power to their loan officers are more willing to lend to small firms than other banks. We use several proxies for measuring loan officers’ authority: their discretion in loan approval and in setting loan interest rates, the amount of money up to which they are allowed to lend autonomously, their turnover, their compensation schemes and the kind of information (soft vs. hard information) used both for screening and monitoring purposes.