Haku
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Household Optimism and Overborrowing
(22.01.2018)
Journal of Money, Credit and Banking 1; February 2018
Journal of Money, Credit and Banking 1; February 2018
We use Finnish household-level data from 1994 to 2013 to measure how often and what kind of forecast errors households make and how the errors are linked to the households' borrowing behavior and overindebtedness. We find ...
Can lenders discern managerial ability from luck? Evidence from bank loan contracts
(15.02.2018)
Journal of Banking and Finance February
Journal of Banking and Finance February
We investigate the effect of managerial ability versus luck on bank loan contracting. Borrowers showing a persistently superior managerial ability over previous years (more likely due to ability) enjoy a lower loan spread, ...
Private benefits of control and bank loan contracts
(31.01.2018)
Journal of Corporate Finance April 2018
Journal of Corporate Finance April 2018
This paper investigates whether or not private benefits of control by managers and large shareholders influence the financing cost of firms. Evidence shows that lending banks demand a significantly higher loan spread, ...