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What Makes Firms Dissatisfied with Their Bank Loans: New Evidence from Survey Data

Atanas Kolev, Laurent Maurin () and Matthieu Segol
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Atanas Kolev: European Investment Bank (EIB)
Laurent Maurin: European Investment Bank (EIB)
Matthieu Segol: Paris School of Economics

Journal of Financial Services Research, 2022, vol. 61, issue 3, No 4, 407-430

Abstract: Abstract We use loan-by-loan association between non-financial firms and their banks to disentangle the effects of financial weakness of borrowers and lenders on the satisfaction with the loan contracted. We construct indices measuring the financial weakness of borrowers and lenders. We find evidence of both demand and supply factors determining firm satisfaction with bank loan financing, especially regarding cost and collateral requirement. We also find that the impact of supply factors differs across regions within the EU: it is significant in periphery and cohesion countries but not in core countries where access to market is easier.

Keywords: Financial constraints; Bank lending; Survey data; Indices; Cross-section linear models; Bank-firm matching; Satisfaction with bank loans; Bank weakness; EU regions (search for similar items in EconPapers)
JEL-codes: E44 G01 G32 L25 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s10693-021-00362-z

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