Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/145863
Authors: 
Hainz, Christa
Fidrmuc, Jarko
Hölzl, Werner
Year of Publication: 
2016
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2016: Demographischer Wandel - Session: Empirical Firm Level Studies D11-V2
Abstract: 
Bank lending has been a major concern since the financial crisis. We study the effect of a firm’s own credit market experience on its perceived bank lending policy using the Austrian Business Climate Survey between 2011 and 2014 and. Our results show that firms’ perceptions of aggregate lending policy depend on their individual credit market experience. Only if they get the loan at the expected terms, firms are more likely to perceive the banks’ lending policy positively. Moreover, firms are more likely to update their perceptions during the period in which they need a loan. Our results are in line with theories on sticky information, rational inattention and pessimism bias when forming perceptions.
JEL: 
G21
E51
D03
Document Type: 
Conference Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.