Τίτλος:
Perceived vs actual financial crisis and bank credit standards: Is there
any indication of self-fulfilling prophecy?
Γλώσσες Τεκμηρίου:
Αγγλικά
Περίληψη:
We link senior banks loan officers’ responses regarding their decisions
for bank credit standards, from successive surveys from the European
Bank Lending Survey to investigate two important issues. First, we
examine the relationship between bank credit standards (CS) and
perceived and actual financial crisis. Second, we investigate whether
the notion of the self-fulfilling prophecy is applicable in the case of
the 2008 financial crisis. In particular, the second main research
question that we try to answer is whether the perceived crisis (as
implied by the Google search query “financial crisis”) contributed
to the acceleration of the outburst of the actual crisis. We find that
both perceived and actual financial crisis affect senior bank loan
officers’ credit standards, with the actual crisis having the greatest
impact. These results are consistent both in the short and in the long
run. Finally, by putting forward a binary choice model we find
sufficient evidence to support the Self-Fulfilling Prophecy notion.
Συγγραφείς:
Anastasiou, Dimitrios
Bragoudakis, Zacharias
Giannoulakis,
Stelios
Περιοδικό:
Research in International Business and Finance
Λέξεις-κλειδιά:
Credit standards; Financial crisis; Google trends; Crisis sentiment;
Self-fulfilling prophecy
DOI:
10.1016/j.ribaf.2021.101486
