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The real effects of FinTech lending on SMEs: Evidence from loan applications

2022-04-22Documento de Trabalho Acesso aberto
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dc.contributor.authorEça, Afonso
dc.contributor.authorFerreira, Miguel A.
dc.contributor.authorPrado, Melissa P.
dc.contributor.authorRizzo, Antonino Emanuele
dc.date.accessioned2022-08-30T17:22:09Z
dc.date.available2022-08-30T17:22:09Z
dc.date.issued2022-04-22
dc.description.abstractWe examine the effects of FinTech lending on firm policies using proprietary data on loan applications and loans granted from a peer-to-business platform. We find that FinTech serves high quality and creditworthy small businesses who already have access to bank credit. Firms access FinTech to obtain long-term unsecured loans and reduce their exposure to banks with less liquid assets, stable funds, and capital. We find that firms with access to FinTech loans significantly increase investment, employment, and sales growth relative to firms that get their loan application rejected. We identify these effects by exploiting the number of banks in each municipality as a source of exogenous variation in the probability of obtaining a FinTech loan. Our findings suggest that FinTech allows firms to improve their financial flexibility and reduce bank dependence.pt_PT
dc.description.versioninfo:eu-repo/semantics/submittedVersionpt_PT
dc.identifier.citationEça, Afonso, Ferreira, Miguel A., Prado, Melissa Porras, Rizzo, Antonino Emanuele. The real effects of FinTech lending on SMEs: Evidence from loan applications (March 2022) Nova SBE Working Paper Series No. 649pt_PT
dc.identifier.urihttp://hdl.handle.net/10362/143363
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherNova School of Business and Economicspt_PT
dc.relation.ispartofseriesNova SBE Working Paper Series;649
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectFinTechpt_PT
dc.subjectSMEspt_PT
dc.subjectSmall business lendingpt_PT
dc.subjectLending relationshipspt_PT
dc.subjectFirm growthpt_PT
dc.subjectInvestmentpt_PT
dc.subjectLeveragept_PT
dc.subjectDebt structurept_PT
dc.titleThe real effects of FinTech lending on SMEs: Evidence from loan applicationspt_PT
dc.typeworking paper
dspace.entity.typePublication
person.familyNameEca
person.familyNameFerreira
person.familyNamePorras Prado
person.familyNameRizzo
person.givenNameAfonso
person.givenNameMiguel
person.givenNameMelissa
person.givenNameAntonino Emanuele
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person.identifier.orcid0000-0003-0537-2703
person.identifier.orcid0000-0001-5616-1135
person.identifier.ridB-7931-2009
person.identifier.scopus-author-id8503169400
rcaap.rightsopenAccesspt_PT
rcaap.typeworkingPaperpt_PT
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