The color of corporate loan securitization / Isabella Müller, Huyen Nguyen, Trang Nguyen
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The color of corporate loan securitization
Discovery
1818137348
URN
urn:nbn:de:gbv:3:2-918863
DOI
ISBN
ISSN
Koordinaten
Skalierung
dc.contributor.contributor
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Publication history
Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [06. Oktober 2022]
Content
1 Online-Ressource (III, 59 Seiten, 0,73 MB) : Diagramme
Edition
Language
eng
Comment
Literaturverzeichnis: Seite 31-36
Abstract
We examine whether banks manage firms’ climate transition risks via corporate loan securitization. Results show that banks are more likely to securitize loans granted to firms that become more carbon-intensive. The effect is more pronounced if banks have a lower willingness to adjust loan terms. Exploiting the election of Donald Trump as an exogenous shock that lowers transition risk, we show that banks respond by a lower securitization of loans given to firms that become more carbon-intensive. This is mainly driven by banks that have no or low preferences for sustainable lending and domestic lenders.
Series
IWH-Diskussionspapiere ; 2022, no. 22 ppn:837399270