Publication: Disentangling the transmission channel NPLs-cost of capital-lending supply
Date
2018
Authors
Chiesa, Gabriella
Director
Publisher
Routledge
Acceso abierto / Sarbide irekia
Artículo / Artikulua
Versión aceptada / Onetsi den bertsioa
Project identifier
Impacto
No disponible en Scopus
Abstract
This paper analyses the effects of non-performing loans (NPLs) on the cost of capital, and on lending and liquidity supply, for a sample of 225 Eurozone banks over the period 2002Q1-2016Q4. Our results demonstrate that NPLs increase the cost of capital, which reduces both lending supply and liquidity creation. This phenomenon is comparatively more significant for periphery county banks than for core country banks.
Description
Keywords
Cost of capital, Credit supply, Leverage, Liquidity creation, NPLs
Department
Gestión de Empresas / Enpresen Kudeaketa
Faculty/School
Degree
Doctorate program
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