FINPRO 4
FINPRO 4 25-26 September 2024 - Barcelona (ESADE) The FINPRO4 Conference took place on 25-26 September 2024 at ESADE Business School in Barcelona. Thanks to the support of our…
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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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Academic conference on the 30th anniversary of the single market
Academic conference on the 30th anniversary of the single market 1st session Chair: Josefina Monteagudo (European Commission) The “completeness” of the EU single market in…
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IWH at 2020 ASSA Annual Meeting in San Diego
IWH at 2020 ASSA Annual Meeting in San Diego Next year’s 2020 ASSA Annual Meeting , organised by the American Economic Association (AEA) on an annual basis, is going to take place…
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Financial Matters
Financial Matters Payment and cash procedures ( Elke Fabian ) CompNet budget procedures Guidelines for the use of overhead payments ( Berit Luka ) List of cost objects ( Elke…
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Regulating Zombie Mortgages
Jonathan Lee, Duc Duy Nguyen, Huyen Nguyen
IWH Discussion Papers,
No. 16,
2024
Abstract
Using the adoption of Zombie Property Law (ZL) across several US states, we show that increased lender accountability in the foreclosure process affects mortgage lending decisions and standards. Difference-in-differences estimations using a state border design show that ZL incentivizes lenders to screen mortgage applications more carefully: they deny more applications and impose higher interest rates on originated loans, especially risky loans. In turn, these loans exhibit higher ex-post performance. ZL also affects lender behavior after borrowers become distressed, causing them to strategically keep delinquent mortgages alive. Our findings inform the debate on policy responses to foreclosure crises.
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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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Research Data Centre
Research Data Centre (IWH-RDC) Direct link to our Data Offer The IWH Research Data Centre offers external researchers access to microdata and micro-aggregated data sets that…
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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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Macro data interactive
Macro data interactive This service provides time series from official publications (Statistisches Bundesamt [German Federal Statistical Office], Arbeitskreis Volkswirtschaftliche…
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