| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7037 |
| DP7037 The Experimental Approach to Development Economics | |
| Abhijit Banerjee; Esther Duflo | |
| 发表日期 | 2008-11-10 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | We investigate whether cultural differences between professional decision-makers affect financial contracts in a large dataset of international syndicated bank loans. We find that lead banks offer smaller loans at a higher interest rate to more culturally distant borrowers. Furthermore, lead banks are more likely to require third-party guarantees as cultural distance with the borrower increases. The effects of cultural differences are not confined to the relation between borrower and lender and appear to hamper risk sharing within the syndicate as well. Ceteris paribus, participant banks fund smaller portions of syndicated loans led by culturally distant banks. These cultural biases are not significantly reduced by repeated interaction with the counterparty or with other agents in the foreign country. |
| 主题 | Financial Economics |
| 关键词 | Behavioral bias Culture Financial contracts Home bias Risk sharing Syndicated loans |
| URL | https://cepr.org/publications/dp7037 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535874 |
| 推荐引用方式 GB/T 7714 | Abhijit Banerjee,Esther Duflo. DP7037 The Experimental Approach to Development Economics. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Abhijit Banerjee]的文章 |
| [Esther Duflo]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Abhijit Banerjee]的文章 |
| [Esther Duflo]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Abhijit Banerjee]的文章 |
| [Esther Duflo]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
