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Does investor sentiment affect bank stability? International evidence from lending behavior
dc.creator | Cubillas, Elena | es_ES |
dc.creator | Ferrer Zubiate, Elena | es_ES |
dc.creator | Suárez Suárez, Nuria | es_ES |
dc.date.accessioned | 2021-09-03T08:46:02Z | |
dc.date.available | 2023-04-01T23:00:13Z | |
dc.date.issued | 2021 | |
dc.identifier.issn | 0261-5606 | |
dc.identifier.uri | https://hdl.handle.net/2454/40400 | |
dc.description.abstract | We study the impact of investor sentiment on bank credit and how changes in lending may affect bank stability. We analyze a sample of 2,673 banks from 127 developed and developing countries during the 1997–2016 period. Our results indicate that periods of high investor sentiment positively affect bank lending and encourage bank risk-taking through the increase in the amount of loans granted which, in fact, reduces bank stability. We find that the impact of investor sentiment on bank stability through changes in growth in bank loans is less negative in countries where creditor rights protection is greater, in terms of both collateral and bankruptcy. During systemic banking crises, the negative effect on bank stability was weaker since any increase in bank credit supply provoked by investor sentiment was counteracted by the crisis. | en |
dc.description.sponsorship | Elena Cubillas acknowledges financial support from the Spanish Ministry of Science and Innovation (Proyect PID2019-108503RB-I00). Elena Ferrer acknowledges financial support from the Spanish Ministry of Science and Innovation (Proyect PID2019-104304GB-I00/AEI/10.13039/501100011033). Nuria Suárez acknowledges financial support from the Spanish Ministry of Economy and Competitiveness (Project ECO2017-85356-P). | en |
dc.format.extent | 43 p. | |
dc.format.mimetype | application/pdf | en |
dc.language.iso | eng | en |
dc.publisher | Elsevier | en |
dc.relation.ispartof | Journal of International Money and Finance 113 (2021) 102351 | en |
dc.rights | © 2021 Elsevier Ltd. This manuscript version is made available under the CC-BY-NC-ND 4.0 | en |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
dc.subject | Bank credit | en |
dc.subject | Bank stability | en |
dc.subject | Creditor protection | en |
dc.subject | Investor sentiment | en |
dc.subject | Systemic banking crises | en |
dc.title | Does investor sentiment affect bank stability? International evidence from lending behavior | en |
dc.type | info:eu-repo/semantics/article | en |
dc.type | Artículo / Artikulua | es |
dc.contributor.department | Enpresen Kudeaketa | eu |
dc.contributor.department | Institute for Advanced Research in Business and Economics - INARBE | en |
dc.contributor.department | Gestión de Empresas | es_ES |
dc.rights.accessRights | info:eu-repo/semantics/openAccess | en |
dc.rights.accessRights | Acceso abierto / Sarbide irekia | es |
dc.embargo.terms | 2023-04-01 | |
dc.identifier.doi | 10.1016/j.jimonfin.2020.102351 | |
dc.relation.projectID | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/PID2019-108503RB-I00/ES/ | en |
dc.relation.projectID | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/PID2019-104304GB-I00/ES/ | en |
dc.relation.projectID | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2013-2016/ECO2017-85356-P/ES/ | en |
dc.relation.publisherversion | https://doi.org/10.1016/j.jimonfin.2020.102351 | |
dc.type.version | info:eu-repo/semantics/acceptedVersion | en |
dc.type.version | Versión aceptada / Onetsi den bertsioa | es |