We find robust empirical evidence that firms in locations with higher exposure to climate
change pay significantly higher spreads on their bank loans. To alleviate the concerns …

Using euro area firm-level data since the recent financial crisis, we test whether bank
lending constrained small-and medium-sized enterprises (SMEs) are more likely to use or …

This paper offers a framework to understand informal financing based on mechanisms to
deal with asymmetric information and enforcement. We find that constructive informal …

After the visions of Industry 5.0 and Society 5.0 were presented, a proliferation of artificial
intelligence technologies have been applied to the financial field because AI develops fast …

This paper develops an empirical taxonomy of SME financing patterns in Europe by
performing a cluster analysis including 12,726 SMEs in 28 European countries. The results …

Using a sample of 27 countries between 1990 and 2014, we find that banks charge higher
interest rates and adjust other contractual features of their loans when lending to firms facing …

We examine the potential adverse effects of a prolonged period of low interest rates on
financial stability from multiple perspectives. First, we provide a unique comparison of …

This study examines how financial development influences economic complexity, using a
broad index of financial development. By utilising a global sample of 86 countries over the …

In recognition of the significance of external business environments for small to medium-
sized enterprises (SMEs), this study examines the relationship between macroenvironments …

The fintech revolution, crowdfunding, and blockchain-based funding have dramatically
reduced borrowing and lending transaction costs. Many have argued that ultimately this …