کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7361662 1478890 2018 58 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Loan prospecting and the loss of soft information
ترجمه فارسی عنوان
بررسی وام و از بین رفتن اطلاعات نرم
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
چکیده انگلیسی
We study a controlled experiment in which a bank's loan officers were incentivized based on originated loan volume to encourage prospecting for new business. While treated loan officers did attract new applications, both extensive and intensive margins of loan origination expanded (+ 31% new loans; loan size + 15%). We find that loan officers gave greater weight to hard information in approval decisions. Despite no change in the observable characteristics of approved loans, their default rate increased (+ 24%). Finally, the bank's imputed credit default model lost its predictive power. Overall, loan prospecting incentives led to unfavorable soft information being overlooked in the origination process.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 129, Issue 3, September 2018, Pages 608-628
نویسندگان
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