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Identifier to cite or link to this item: https://hdl.handle.net/10086/14557

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Title
Learning from a rival bank and lending boom
Creator
Creator Name
Ogura, Yoshiaki Ogura, Yoshiaki
小倉, 義明 小倉, 義明
Affiliation
Affiliation Name
Kyoto University
Rights
Copyright (C)2006, Elsevier Inc. The definitive version is published in Journal of Financial Intermediation 15(4), 2006, 10.1016/j.jfi.2005.10.002
Key Word
Interbank competition
Financial liberalization
Learning
Winner's curse
JEL
G21
G28
Abstract
When bankers observe a rival winning in the interbank competition for lending to a firm, they infer that the firm may be more promising than they had thought. From this consideration, they loosen their creditworthiness tests and lower the interest rates they offer in the next lending competition for the firm. Increased interbank competition reduces the impact of this observational learning and decreases the credit risk taken by each bank because of a severe winner’s curse, while it increases the aggregate risk taken by the entire banking sector.
Publisher
Elsevier Inc.
Issued Date
2006-10
Language
English(eng)
Resource Type
journal article
Version Type
AM
Is Version OfRelation -
Related Identifier
DOI
  10.1016/j.jfi.2005.10.002
ISSN
1042-9573
NCID
AA10773937
Source Title
Journal of Financial Intermediation
Volume Number
15
Issue Number
4
Page Start
535
Page End
555
Appears in Collections
010a Journal Articles　=　雑誌掲載論文
URL
https://hdl.handle.net/10086/14557