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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w29205 |
来源ID | Working Paper 29205 |
Why Did Small Business Fintech Lending Dry Up During March 2020? | |
Itzhak Ben-David; Mark J. Johnson; René M. Stulz | |
发表日期 | 2021-09-06 |
出版年 | 2021 |
语种 | 英语 |
摘要 | With the onset of the COVID-19 crisis in March 2020, small business lending through fintech lenders collapsed. We explore the reasons for the market shutdown using detailed data about loan applications, offers, and take-up from a major small business fintech credit platform. We document that while the number of loan applications increased sharply early in March 2020, the supply of credit collapsed as online lenders dropped from the platform and the likelihood of applicants receiving loan offers fell precipitously. Our analysis shows that the drying up of the loan supply is most consistent with fintech lenders becoming financially constrained and losing their ability to fund new loans. |
主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Corporate Finance ; COVID-19 |
URL | https://www.nber.org/papers/w29205 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586878 |
推荐引用方式 GB/T 7714 | Itzhak Ben-David,Mark J. Johnson,René M. Stulz. Why Did Small Business Fintech Lending Dry Up During March 2020?. 2021. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w29205.pdf(778KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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