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NBB Working Paper, 2024, 458: Bank specialization and corporate innovation

Oorspronkelijke titel: Bank specialization and corporate innovation
Bron: nbb.be
02-10-2024
Publicatiejaar: 2024 Editie: 458 Aantal pagina's: 83
EN

Theory offers conflicting predictions on whether and how lenders’ sectoral specialization would affect firms’ innovation activities. We show that the sign and magnitude of this effect vary with the degree of “asset overhang” across sectors, which is the risk that a new technology has negative spillovers on the value of a bank’s legacy loan portfolio. Using both patent data and micro-level innovation survey data, we find that lenders’ sectoral specialization improves…

Bron: https://www.nbb.be/en/articles/bank-specialization-and-corporate-innovation - 02-10-2024
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Termen(3)
Bankensectoren
Vooruitzichten economie
Auteur(4)
O. De Jonghe
Cédric Huylebroek
Leonardo Gambacorta