The month-of-the-year effect in corporate lending

Bertrand, Jérémie; Burietz, Aurore; Weill, Laurent

Document type :

Article dans une revue scientifique

DOI :

10.1016/j.frl.2021.102014

Title :

The month-of-the-year effect in corporate lending

Author(s) :

Bertrand, Jérémie [Auteur]
Burietz, Aurore [Auteur]
Lille économie management - UMR 9221 [LEM]
Weill, Laurent [Auteur]

Journal title :

Finance Research Letters

Pages :

102014

Publisher :

Elsevier

Publication date :

2021-03-09

ISSN :

1544-6123

English keyword(s) :

Calendar effect
Corporate loans
Trade loading

HAL domain(s) :

Sciences de l'Homme et Société/Economies et finances

English abstract : [en]

We investigate the existence of calendar effect in corporate lending decisions. We show that the loan amount granted by banks significantly varies across months. We find a positive effect of quarter-end and year-end months ...
Show more >We investigate the existence of calendar effect in corporate lending decisions. We show that the loan amount granted by banks significantly varies across months. We find a positive effect of quarter-end and year-end months on the loan amount. We attribute these effects to trade loading behavior, according to which banks would inflate granted loans at the end of the quarter and the year to hit financial targets.Show less >

Language :

Anglais

Peer reviewed article :

Oui

Audience :

Internationale

Popular science :

Non

Collections :

Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL

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