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Gender, Credit, and Firm Outcomes

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Listed:
  • Delis, Manthos D.
  • Hasan, Iftekhar
  • Iosifidi, Maria
  • Ongena, Steven

Abstract

Small and micro-enterprises are usually majority-owned by entrepreneurs. Using a unique sample of loan applications from such firms, we study the role of owners’ gender in bank credit decisions and post-credit-decision firm outcomes. We find that, ceteris paribus, female entrepreneurs are more prudent loan applicants than are males because they are less likely to apply for credit or to default after loan origination. The relatively more aggressive behavior of male applicants pays off, however, in terms of higher average firm performance after loan origination.

Suggested Citation

  • Delis, Manthos D. & Hasan, Iftekhar & Iosifidi, Maria & Ongena, Steven, 2022. "Gender, Credit, and Firm Outcomes," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 57(1), pages 359-389, February.
    • Handle: RePEc:cup:jfinqa:v:57:y:2022:i:1:p:359-389_11
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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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