| dc.contributor | 財管系 | - |
| dc.creator (作者) | 周冠男 | - |
| dc.creator (作者) | Chou, Robin K. | - |
| dc.creator (作者) | Chen, Hsuan-Chi;Lin, Chih-Yung;Lu, Chien-Lin | - |
| dc.date (日期) | 2022-04 | - |
| dc.date.accessioned | 26-May-2022 16:21:36 (UTC+8) | - |
| dc.date.available | 26-May-2022 16:21:36 (UTC+8) | - |
| dc.date.issued (上傳時間) | 26-May-2022 16:21:36 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/140170 | - |
| dc.description.abstract (摘要) | We examine the effect of quantitative easing on the supply of bank loans. During the Fed’s quantitative easing programs, lending banks reduced relatively more loan spreads, offered longer loan maturities, provided larger loans, and loosened more covenants for firms whose long-term bond ratings were below BBB and were lower than those with investment-grade bond ratings. Furthermore, we find that new bank loans in this period were associated with a reduction in a firm’s value and an increase in default risk. These results indicate that banks took greater risk during the 2008 quantitative easing by relaxing lending standards to relatively riskier borrowers. | - |
| dc.format.extent | 105 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | Journal of Financial Stability, Volume 59, April 2022, 100974 | - |
| dc.subject (關鍵詞) | Bank loans; Default risk; Firm value; Quantitative easing | - |
| dc.title (題名) | Bank Loans during the 2008 Quantitative Easing | - |
| dc.type (資料類型) | article | - |
| dc.identifier.doi (DOI) | 10.1016/j.jfs.2022.100974 | - |
| dc.doi.uri (DOI) | https://doi.org/10.1016/j.jfs.2022.100974 | - |
