Events
Event

DF Lunch Seminar with Jos茅 Liberti (Northwestern 成人头条versity)

  • Speaker  Prof. Jos茅 Liberti

  • Location

    Kirchberg Campus

    6, rue Richard Couden颅颅颅hove-Kalergi

    1359, Luxembourg, Luxembourg

  • Topic(s)
    Finance
  • Type(s)
    Free of charge, In-person event, Lectures and seminars

Information Sharing Technology and Specialization in Credit Markets

With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg.

Authors

Jose虂 Liberti, Jason Sturgess, and Andrew Sutherland

Abstract

We explore how information technology affects specialization in financial intermediation. Using U.S. credit bureau data on SME lending, we develop a specialization measure that captures comparative advantage based on the similarity of collateral types within lenders鈥 portfolios. We find lower delinquencies and less cyclical borrower turnover and credit originations in lenders鈥 specialized markets. We then use bureau coverage changes as an information innovation and trace these changes to increasing lender specialization and entry into related markets. Our findings illustrate how information technology innovations shape lender specialization, which has implications for credit availability, market structure, and financial stability.

成人头条 the speaker

is the Joseph Jr. and Carole Levy Chair in Entrepreneurship and a Clinical Professor of Finance at Kellogg School of Management, Northwestern 成人头条versity.

Language

English.

This is a free seminar. Registration is mandatory.

Cold lunches are provided to registered participants.

Supported by the Luxembourg National Research Fund (FNR) 17984041

Share this