Credit risk, owner liability, and bank loan maturities during the global financial crisis

• Tipo: Artigo em Revista Científica Internacional
• Data: 2020

Autores

Duarte, FD (Autor) Outra; Matias Gama, APM (Autor) Outra; Gulamhussen, MA (Autor) Outra

Revista

Título: European Financial Management

Vol. 26

Páginas: 628-683

ISSN: 1354-7798

Editora: Wiley-Blackwell

Indexação

ISI Web of Knowledge - 3 Citações

Scopus - 7 Citações

Outras Informações

ID Authenticus: P-00R-5JJ

DOI: 10.1111/eufm.12239

Abstract (EN): 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.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 56