Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one of the four research departments (Financial Markets – Laws, Regulations and Factor Markets –…
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Energy
Energy This research project focused on understanding the various channels through which energy efficiency is achieved within firms. The study aims to investigate these channels…
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ProdTalks
CompNet ProdTalks CompNet ProdTalks is a monthly recurring 1.5 hour virtual event, two selected papers will be presented including presentation, discussion and Q&A. The top ic…
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Virtual Conference on Sustainable development, firm performance and competitiveness policies in small open economies
Virtual Conference on Sustainable development, firm performance and competitiveness policies in small open economies This Conference has been jointly organised by CompNet and…
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6th vintage
6th Vintage CompNet Dataset CompNet has created a competitiveness indicator dataset including a number of European countries. The dataset is unique in terms of its coverage and…
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The Bright Side of Bank Lobbying: Evidence from the Corporate Loan Market
Manthos D. Delis, Iftekhar Hasan, Thomas Y. To, Eliza Wu
Journal of Corporate Finance,
June
2024
Abstract
Bank lobbying has a bitter taste in most forums, ringing the bell of preferential treatment of big banks from governments and regulators. Using corporate loan facilities and hand-matched information on bank lobbying from 1999 to 2017, we show that lobbying banks increase their borrowers' overall performance. This positive effect is stronger for opaque and credit-constrained borrowers, when the lobbying lender possesses valuable information on the borrower, and for borrowers with strong corporate governance. Our findings are consistent with the theory positing that lobbying can provide access to valuable lender-borrower information, resulting in improved efficiency in large firms' corporate financing.
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Internationalisation
Internationalisation The Leibniz Institute for Economic Research Halle (IWH) is responsible for economic research and economic policy advice on a scientific basis. The institute…
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Green Transition
Green Transition Research and Policy Advice for Structural Change in the German Economy Dossier, 18.06.2024 Green Transition The green transition is a key topic of our time. In a…
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Management Buyouts
Management Buyouts in Eastern Germany The study on management buyouts (MBOs) examines an important group of East German companies and their development: companies which, in the…
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Guiding Theme and Research Profile
Tasks of the IWH Guided by its mission statement , the IWH places the understanding of the determinants of long term growth processes at the centre of the research agenda. Long…
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