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Publication Detailed Description
Journal Title
European Financial Management
Year (definitive publication)
2020
Language
English
Country
United States of America
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Abstract
We relate credit risk and owners’ personal guarantees to bank loan maturities during the global financial crisis. The findings, which remain robust to reverse causality, show that firms rated as low risk, with a strong relationship with the bank, whose owners provided personal guarantees and with large loan sizes obtained longer maturities. Banks with larger nonperforming loans provided loans with shorter maturities. Firms with low and high risk ratings that provided owners’ personal guarantees obtained longer maturities. These findings shed additional light on the relationship between risk and loan maturities and the role of personal guarantees in reducing information asymmetries.
Acknowledgements
FCT: UID/GES/00315/2013; PTDC/IIM-FIN/7188/2014.
Keywords
Small firm financing,Financial crisis,Government policy and regulation,Banks
Fields of Science and Technology Classification
- Economics and Business - Social Sciences
Funding Records
| Funding Reference | Funding Entity |
|---|---|
| PTDC/IIM-FIN/7188/2014 | Fundação para a Ciência e a Tecnologia |
| TDC/EGE-OGE/31246/2017 | Fundação para a Ciência e a Tecnologia |
| UID/GES/04630/2019 | Fundação para a Ciência e a Tecnologia |
| UID/GES/00315/2013 | Fundação para a Ciência e a Tecnologia |
Related Projects
This publication is an output of the following project(s):
Contributions to the Sustainable Development Goals of the United Nations
With the objective to increase the research activity directed towards the achievement of the United Nations 2030 Sustainable Development Goals, the possibility of associating scientific publications with the Sustainable Development Goals is now available in Ciência-IUL. These are the Sustainable Development Goals identified by the author(s) for this publication. For more detailed information on the Sustainable Development Goals, click here.
