Loan spreads and credit cycles: The role of lenders' personal economic experiences

Loan spreads and credit cycles: The role of lenders' personal economic experiences

We provide evidence that changes in lender optimism can lead to excessive fluctuations in credit spreads across the credit cycle. Using data on the real estate properties of loan officers originating large corporate loans, we find that credit spreads overreact to sophisticated lenders' recent l...

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書目詳細資料
Main Authors:	CARVALHO, Daniel, GAO, Janet, MA, Pengfei
格式:	text
語言:	English
出版:	Institutional Knowledge at Singapore Management University 2023
主題:	Personal experiences Credit cycle Loan officers Lender optimism Sophisticated investors Real estate prices Corporate Finance Finance and Financial Management
在線閱讀:	https://ink.library.smu.edu.sg/lkcsb_research/7264 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8263/viewcontent/SSRN_id3404368.pdf
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