We review research on the effects of banks on the real economy, including, but not limited to
articles in this Special Issue of the Journal of Corporate Finance. We focus primarily on US …

After a brief overview of current financing difficulties for SMEs and policy measures to
support SME lending during the crisis, this article presents a literature review related to …

We document that finance companies and FinTech lenders increased lending to small
businesses after the 2008 financial crisis. We show that most of the increase substituted for a …

Banks have no time for complacency. They need to re-evaluate their competitive advantages
in light of profound changes driven by advances in information technology (IT) and …

This article investigates the effect of bank lending frictions on employment outcomes. I
construct a new data set that combines information on banking relationships and …

We identify factors affecting the Japanese stock market during the COVID-19 pandemic
period. First, we focus on the ownership structure. We find that indirect ownership through …

This paper investigates the mechanisms behind the matching of banks and firms in the loan
market and the implications of this matching for lending relationships, bank capital, and …

Financial constraints are fundamental to empirical research in finance and economics. We
propose two tests to evaluate how well measures of financial constraints actually capture …

Over a period that includes the 1998 Russian crisis and 2007–2009 financial crisis, banks
with overconfident chief executive officers (CEOs) were more likely to weaken lending …

This paper examines how uncertainty affects corporate investment under varying degrees of
asset redeployability. We develop new measures of asset redeployability by accounting for …