Risk Overhang and Loan Portfolio Decisions: Small Business Loan Supply before and during the Financial Crisis

We estimate a structural model of bank portfolio lending and find that the typical U.S. community bank reduced its business lending during the global financial crisis. The decline in business credit was driven by increased risk overhang effects (consistent with a reduction in the liquidity of assets...

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Bibliographic Details
Published in:The Journal of finance (New York) 2015-12, Vol.70 (6), p.2451-2488
Main Authors: DEYOUNG, ROBERT, GRON, ANNE, TORNA, GӦKHAN, WINTON, ANDREW
Format: Article
Language:English
Subjects:
Bank
Bank portfolios
Banking
Bankrisiko
Commercial banks
Credit
Economic crisis
Elasticity
Finanzmarkt
International finance
Internet
Kreditgeschäft
Lending
Loans
Portfolio-Management
Portfolios
Rationing
Risk
Risk aversion
Risk reduction
Small business
Small business loans
Studies
Theorie
Unvollkommener Markt
USA
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