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|Title:||Credit risk, owner liability and bank loan maturities during the global financial crisis|
|Authors:||Duarte, F. D.|
Gama, A. P. M.
Gulamhussen, M. A.
|Keywords:||Small firm financing|
Government policy and regulation
|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.|
|Appears in Collections:||BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica|
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|DGG MATURITY (EFM FINAL FOR PRINT 23-08-2019).pdf||Pós-print||704.92 kB||Adobe PDF||View/Open Request a copy|
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