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

IF 1.4 4区经济学 Q3 BUSINESS, FINANCE

Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-09-12 DOI:10.1080/16081625.2021.1976226

Yun Wang, Xiaoguang Yang

引用次数: 1

Abstract

ABSTRACT 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.

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现有银行-公司关系的信息优势——新客户筛选的证据

本文利用来自中国17家主要银行的独特数据集，研究关联公司是否可以作为替代信息渠道。我们发现，与没有关联公司的新客户相比，有关联公司的新客户违约的可能性更小。当新客户有多家关联公司或关联公司与银行关系密切时，违约率的差异就会变得更加明显。而且，这种差异随着新客户信息不对称程度的增加而增加。我们的研究结果表明，关联公司的现有银企关系在筛选过程中起着重要作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asia-Pacific Journal of Accounting & Economics Multiple-

CiteScore

2.40

自引率

9.10%

发文量

期刊介绍： The Asia-Pacific Journal of Accounting & Economics (APJAE) is an international forum intended for theoretical and empirical research in all areas of economics and accounting in general. In particular, the journal encourages submissions in the following areas: Auditing, financial reporting, earnings management, financial analysts, the role of accounting information, international trade and finance, industrial organization, strategic behavior, market structure, financial contracts, corporate governance, capital markets, and financial institutions. The journal welcomes contributions related to the Asia Pacific region, and targets top quality research from scholars with diverse regional interests. The editors encourage submission of high quality manuscripts with innovative ideas. The editorial team is committed to an expedient review process.