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http://hdl.handle.net/10071/18613
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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
Financial crisis
Government policy and regulation
Banks
Issue Date: 2020
Publisher: Wiley-Blackwell
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.
Peer reviewed: yes
URI: http://hdl.handle.net/10071/18613
DOI: 10.1111/eufm.12239
ISSN: 1354-7798
Ciência-IUL: https://ciencia.iscte-iul.pt/id/ci-pub-61468
Accession number: WOS:000489112700001
Appears in Collections:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

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