The information advantage from existing bank-firm relationships -evidence from new clients' screening

被引：1

作者：

Wang, Yun ^{[1
]}

Yang, Xiaoguang ^{[2
,3
]}

机构：

[1] Univ Int Business & Econ, Sch Banking & Finance, Beijing, Peoples R China

[2] Chinese Acad Sci, Acad Math & Syst Sci, Beijing, Peoples R China

[3] Univ Chinese Acad Sci, Sch Econ & Management, Beijing, Peoples R China

来源：

ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2023年 / 30卷 / 02期

基金：

中国国家自然科学基金;

关键词：

Related firms; bank-firm relationships; new clients; default risk; LENDING RELATIONSHIPS; CREDIT ALLOCATION; CAPITAL STRUCTURE; ARMS-LENGTH; DISTANCE; AVAILABILITY; CONTRACTS; BENEFITS; CHOICE;

D O I：

10.1080/16081625.2021.1976226

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Using a unique dataset from 17 major banks in China, we investigate whether related firms serve as an alternative information channel. We find that compared with new clients with no related firms, new clients with related firms are less likely to default. And the difference in default rates becomes more pronounced when new clients have multiple related firms or the related firms have intense relationships with the bank. Moreover, this difference increases with new clients' degree of information asymmetry. Our results suggest that the existing bank-firm relationships from related firms play an important role in the screening process.

引用

页码：409 / 428

页数：20

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