Firms with only one bank relationship make up the majority of firms in many economies. This
paper explores whether policy-driven lending is differentially transmitted to single-bank firms …

We explore the effect of China's unique environmental credit rating pilot policy on loan
contract terms between firms and banks. First, we find that the environmental credit rating …

Firms with only one bank relationship make up the majority of firms in many economies. This
paper explores whether policy-driven lending is differentially transmitted to single-bank firms …

What are the effects of a bank shock–or a decline in bank loan repayments–in an economy
featuring bank-firm lending relationships and what is the propagation mechanism? I answer …

Abstract Theory suggests that by lending to a firm, inside banks gain an informational
advantage over non-lender outside banks. This informational gap hinders borrowers from …

Most of the macroeconomics and finance literature has focussed on sentiments, learning or
news shocks to explain boom-bust cycles, while ramifications of widely-documented bank …

What are the effects of a bank shock–or a decline in bank loan repayments–in an economy
featuring bank-firm lending relationships and what is the propagation mechanism? I answer …

This paper presents a model in which banks compete both on interest rates and collateral
requirements (loan-to-value or LTV ratios) and have lending relationships with firms. The …

This paper explores banks' behaviour in the five years prior to a firm's financial distress. We
construct a model of bank competition where new banks will often refinance loans that a …

Effective bankruptcy law facilitates firm financing, growth, and innovation. It must reinforce
investor confidence ex-ante and the orderly resolution of business difficulties ex-post …