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    Disentangling the transmission channel NPLs-cost of capital-lending supply

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    2020-07-15
    Date
    2018
    Author
    Chiesa, Gabriella 
    Mansilla Fernández, José Manuel 
    Version
    Acceso embargado / Sarbidea bahitua dago
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    Artículo / Artikulua
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    Versión aceptada / Onetsi den bertsioa
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    10.1080/13504851.2018.1558335
     
     
     
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    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 c ... [++]
    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. [--]
    Subject
    Cost of capital, Credit supply, Leverage, Liquidity creation, NPLs
     
    Publisher
    Routledge
    Published in
    Applied Economics Letters 2019, vol. 26, no. 16, 1333-1338
    Departament
    Universidad Pública de Navarra. Departamento de Gestión de Empresas / Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila
     
    Publisher version
    https://doi.org/10.1080/13504851.2018.1558335
    URI
    https://hdl.handle.net/2454/35272
    Appears in Collections
    • Artículos de revista - Aldizkari artikuluak [2168]
    • Artículos de revista DGE - EKS Aldizkari artikuluak [87]
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