The month-of-the-year effect in corporate lending | Bertrand, Jérémie
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The month-of-the-year effect in corporate lending

Archive ouverte : Article de revue

Bertrand, Jérémie | Burietz, Aurore | Weill, Laurent

Edité par HAL CCSD ; Elsevier

International audience. We investigate the existence of calendar effect in corporate lending decisions. We show that the loan amount granted by banks significantly varies across months. We find a positive effect of quarter-end and year-end months on the loan amount. We attribute these effects to trade loading behavior, according to which banks would inflate granted loans at the end of the quarter and the year to hit financial targets.

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