Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/168164
Authors: 
Kick, Thomas
Celerier, Claire
Ongena, Steven
Year of Publication: 
2017
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2017: Alternative Geld- und Finanzarchitekturen - Session: Corporate Finance A16-V2
Abstract: 
We explore the effect of tax reforms in Italy and Belgium, respectively that decrease the cost of equity on bank lending. Because local firms were also affected by these reforms, we em-ploy loan level data from the German credit register, to identify the differential impact on lending by banks that were 'treated'. We find that the decrease in the cost of equity leads banks to raise their equity ratio, and to expand their balance sheet by increasing the amount of credit supplied in Germany.
JEL: 
E51
E58
G21
G28
Document Type: 
Conference Paper

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