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Fear, anger and credit. On bank robberies and loan conditions


Morales-Acevedo, Paola; Ongena, Steven (2020). Fear, anger and credit. On bank robberies and loan conditions. Economic Inquiry, 58(2):921-952.

Abstract

We study the impact of emotions on real-world decisions made by loan officers by analyzing the loan conditions of loans granted immediately after a bank branch robbery. We find significant differences between the conditions of loans granted after a robbery and changes in loan conditions that occur contemporaneously at unaffected branches. In general, loan officers seem to adopt so-called avoidance behavior. In accordance with the literature on posttraumatic stress, their avoidance behavior is halved within two weeks following the robbery and the effect further varies depending on the presence, or absence, of a firearm during the robbery.

Abstract

We study the impact of emotions on real-world decisions made by loan officers by analyzing the loan conditions of loans granted immediately after a bank branch robbery. We find significant differences between the conditions of loans granted after a robbery and changes in loan conditions that occur contemporaneously at unaffected branches. In general, loan officers seem to adopt so-called avoidance behavior. In accordance with the literature on posttraumatic stress, their avoidance behavior is halved within two weeks following the robbery and the effect further varies depending on the presence, or absence, of a firearm during the robbery.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Scopus Subject Areas:Social Sciences & Humanities > General Business, Management and Accounting
Social Sciences & Humanities > Economics and Econometrics
Scope:Discipline-based scholarship (basic research)
Language:English
Date:1 April 2020
Deposited On:13 May 2020 06:53
Last Modified:24 May 2024 01:37
Publisher:Wiley-Blackwell Publishing, Inc.
ISSN:0095-2583
OA Status:Green
Free access at:Related URL. An embargo period may apply.
Publisher DOI:https://doi.org/10.1111/ecin.12826
Official URL:https://onlinelibrary.wiley.com/doi/abs/10.1111/ecin.12826
Related URLs:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2653726 (Organisation)
Other Identification Number:merlin-id:17891
  • Content: Accepted Version