| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16684 |
| DP16684 The Real Effects of FinTech Lending on SMEs: Evidence from Loan Applications | |
| Afonso Eça; Miguel Ferreira; Melissa Prado | |
| 发表日期 | 2022-03-22 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We examine the effects of FinTech lending on firm policies using proprietary data on loan applications and loans granted from a peer-to-business platform. We find that FinTech serves high quality and creditworthy small businesses who already have access to bank credit. Firms access FinTech to obtain long-term unsecured loans and reduce their exposure to banks with less liquid assets, stable funds, and capital. We find that firms with access to FinTech loans significantly increase investment, employment, and sales growth relative to firms that get their loan application rejected. We identify these effects by exploiting the number of banks in each a municipality as a source of exogenous variation in the probability of obtaining a FinTech loan. Our findings suggest that FinTech allows firms to improve their financial flexibility and reduce bank dependence. |
| 主题 | Financial Economics |
| 关键词 | Fintech Smes Peer-to-business lending Small business lending |
| URL | https://cepr.org/publications/dp16684-2 |
| 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/546103 |
| 推荐引用方式 GB/T 7714 | Afonso Eça,Miguel Ferreira,Melissa Prado. DP16684 The Real Effects of FinTech Lending on SMEs: Evidence from Loan Applications. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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