Publication: Banking on knowledge: Technology expertise and loan costs
Banking on knowledge: Technology expertise and loan costs
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Gao, M., Huang, Y., Ongena, S., & Wu, E. (2023). Banking on knowledge: Technology expertise and loan costs. https://cepr.org/voxeu/columns/banking-knowledge-technology-expertise-and-loan-costs
Abstract
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High-tech innovative firms often face difficulties in obtaining bank loans due to technological uncertainties and information asymmetries. This is because banks traditionally specialise in specific industry domains to mitigate risks. This column uses comprehensive patent data and syndicated bank loan data to show that banks also acquire technological expertise that extends beyond industry lines. This expertise is robustly related to lower loan spreads, and benefits both banks and future borrowers. Fostering collaboration between banks
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Gao, M., Huang, Y., Ongena, S., & Wu, E. (2023). Banking on knowledge: Technology expertise and loan costs. https://cepr.org/voxeu/columns/banking-knowledge-technology-expertise-and-loan-costs