Earticle

초록

영어

This paper examines the relation between bank funding structure and lending to firms during periods of liquidity shocks. We analyze this relation by using quarterly loan panel data of all commercial banks in Korea, as well as their borrowing firms. We find that when liquidity shocks are severe, banks generally reduce their lending, but banks with a high core funding ratio tend rather to increase their lending to firms during periods of market-wide liquidity shocks and thereby the reduction in lending due to liquidity shocks is offset. This tendency is stronger in banks that maintain relationship banking with the firms. However, these findings are valid only for large banks. Our findings could provide some important policy implications for financial supervisory authorities seeking some regulatory policies on liquidity as in Basel III.

목차

Abstract
 1. Introduction
 2. Bank Funding Structure and Lending to Firms: Hypothesis
  2.1 Bank Funding Structure and Their Lending
  2.2. Bank Funding Structure and Lending to Their Main Borrowers
 3. Data and Summary Statistics
  3.1. Data
  3.2. Summary Statistics of Bank and Firm Characteristics
 4. Empirical Analyses
  4.1. The Estimation Model
  4.2. Main Results
 5. Conclusions
 References
 Table
 Figure

키워드

저자

• Hosung Jung [ Bank of Korea ]
• Dongcheol Kim [ Korea University Business School ] Corresponding Author

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330