银行关系与 PPP 贷款的地理分布

IF 1.5 4区 经济学 Q3 BUSINESS, FINANCE
David Glancy
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引用次数: 0

摘要

我研究了银行关系如何影响工资保障计划(PPP)贷款的时间和地理分布。半数银行的 PPP 贷款发放给了分行两英里范围内的借款人,这主要是由关系贷款驱动的。不太活跃的贷款人附近的企业转向了金融科技公司和其他较远的贷款人,导致获得信贷的时间推迟,但贷款额却略有下降。我估计了一个结构模型,以拟合观察到的网点距离、银行购买力平价活动和贷款发放时间之间的关系。我发现,银行为关系借款人提供服务的时间比其他借款人早 5 到 9 天,这一结果与使用之前有 SBA 借贷关系的 PPP 借款人样本进行的简化形式估计结果一致。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

Bank Relationships and the Geography of PPP Lending

Bank Relationships and the Geography of PPP Lending

I study how bank relationships affected the timing and geographic distribution of Paycheck Protection Program (PPP) lending. Half of banks’ PPP loans went to borrowers within two miles of a branch, mostly driven by relationship lending. Firms near less active lenders shifted to fintechs and other distant lenders, resulting in delays receiving credit but only slightly lower loan volumes. I estimate a structural model to fit the observed relationship between branch distance, bank PPP activity, and origination timing. I find that banks served relationship borrowers five to nine days before other borrowers, an effect in line with reduced-form estimates using a sample of PPP borrowers with previous SBA lending relationships.

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来源期刊
CiteScore
3.00
自引率
7.10%
发文量
22
期刊介绍: The Journal of Financial Services Research publishes high quality empirical and theoretical research on the demand, supply, regulation, and pricing of financial services. Financial services are broadly defined to include banking, risk management, capital markets, mutual funds, insurance, venture capital, consumer and corporate finance, and the technologies used to produce, distribute, and regulate these services. Macro-financial policy issues, including comparative financial systems, the globalization of financial services, and the impact of these phenomena on economic growth and financial stability, are also within the JFSR’s scope of interest. The Journal seeks to promote research that enriches the profession’s understanding of financial services industries, to elevate industry and product efficiencies, as well as to inform the debate and promote the formulation of sound public policies.   Officially cited as: J Financ Serv Res
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