کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
961143 | 929792 | 2008 | 31 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Borrower-lender distance, credit scoring, and loan performance: Evidence from informational-opaque small business borrowers
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موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
استراتژی و مدیریت استراتژیک
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Borrower-lender distance, credit scoring, and loan performance: Evidence from informational-opaque small business borrowers Borrower-lender distance, credit scoring, and loan performance: Evidence from informational-opaque small business borrowers](/preview/png/961143.png)
چکیده انگلیسی
Over the past decade, the distances between small businesses and their bank lenders have increased substantially, as increasing numbers of bank lenders have implemented credit-scoring models to evaluate the creditworthiness of small businesses. These developments are antithetical to the traditional small business lending process, which emphasizes local proximity, bank-borrower relationships, and qualitative information. We theoretically model and empirically test whether and how these changes have affected the probability that small business loans default, using 1984-2001 data from the SBA's flagship lending program. On average, both distance and credit scoring are associated with higher default probabilities-the former suggests that distance interferes with information collection, while the latter suggests that production efficiencies encourage credit-scoring lenders to expand output by making riskier loans at the margin. The default-increasing effects of distance are substantially dampened at credit scoring banks, however, suggesting that hard-information lending approaches may outperform soft-information, relationship-based lending approaches in long-distance situations.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Intermediation - Volume 17, Issue 1, January 2008, Pages 113-143
Journal: Journal of Financial Intermediation - Volume 17, Issue 1, January 2008, Pages 113-143
نویسندگان
Robert DeYoung, Dennis Glennon, Peter Nigro,