患难见真情吗？关系借款人在2019冠状病毒病危机期间的表现如何

IF 3.1 1区经济学 Q2 BUSINESS, FINANCE

Journal of Financial Intermediation Pub Date : 2025-04-26 DOI:10.1016/j.jfi.2025.101150

Allen N. Berger , Christa H.S. Bouwman , Lars Norden , Raluca A. Roman , Gregory F. Udell , Teng Wang

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引用次数: 0

摘要

我们对现有的关于银行如何在危机期间管理与企业借款人关系的关系贷款文献提出了挑战。我们在COVID-19危机结束期间测试了跨期平滑理论，当时借款人非常需要关系利益。我们发现，在此期间，关系借款人获得的贷款合同条款比其他借款人更差，而不是更有利。这些和其他研究结果为大流行期间关系贷款的运作提供了新的证据，并与从银行和金融危机中收集的现有证据形成对比。

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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Is a friend in need a friend indeed? How relationship borrowers fare during the COVID-19 crisis

We challenge the existing relationship lending literature on how banks manage their relationships with corporate borrowers during crises. We test theories of intertemporal smoothing during the closure period of the COVID-19 crisis when borrowers are in great need of relationship benefits. We find that relationship borrowers receive worse rather than more favorable loan contract terms than others during this period. These and other results provide novel evidence on the functioning of relationship lending during a pandemic and contrast existing evidence gleaned from banking and financial crises.

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来源期刊

Journal of Financial Intermediation BUSINESS, FINANCE-

CiteScore

8.60

自引率

7.70%

发文量

期刊介绍： The Journal of Financial Intermediation seeks to publish research in the broad areas of financial intermediation, financial market structure, corporate finance, risk management, and valuation.