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Gender differences in bank loan access

Author

Listed:
  • Giorgio Calcagnini

    () (Department of Economics, Society & Politics, Università di Urbino "Carlo Bo")

  • Germana Giombini

    () (Department of Economics, Society & Politics, Università di Urbino "Carlo Bo")

  • Elisa Lenti

    () (Department of Economics, Society & Politics, Università di Urbino "Carlo Bo")

Abstract

Traditionally female entrepreneurs report difficulties or higher costs in accessing bank credit. These difficulties can be either the result of supply side discrimination, or the lower profitability of female-owned firms than male-owned ones. This paper aims at analyzing gender differences in bank loan access by means of a large dataset on firms’ lines of credit provided by four Italian banks over the period 2005-2008. Estimates show that, after controlling for loan, firm and bank characteristics, female-owned firms: (a) experience a higher probability of having to pledge guarantees than male-owned firms; (b) have a lower probability of access to credit.

Suggested Citation

  • Giorgio Calcagnini & Germana Giombini & Elisa Lenti, 2012. "Gender differences in bank loan access," Working Papers 1212, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2012.
  • Handle: RePEc:urb:wpaper:12_12
    as

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    File URL: http://www.econ.uniurb.it/RePEc/urb/wpaper/WP_12_12.pdf
    File Function: First version, 2012
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    References listed on IDEAS

    as
    1. Presbitero, Andrea F. & Zazzaro, Alberto, 2011. "Competition and relationship lending: Friends or foes?," Journal of Financial Intermediation, Elsevier, pages 387-413.
    2. Presbitero, Andrea F. & Zazzaro, Alberto, 2011. "Competition and relationship lending: Friends or foes?," Journal of Financial Intermediation, Elsevier, pages 387-413.
    3. Becker, Gary S., 1971. "The Economics of Discrimination," University of Chicago Press Economics Books, University of Chicago Press, edition 2, number 9780226041162.
    4. Carletti, Elena & Cerasi, Vittoria & Daltung, Sonja, 2007. "Multiple-bank lending: Diversification and free-riding in monitoring," Journal of Financial Intermediation, Elsevier, pages 425-451.
    5. Alberto F. Alesina & Francesca Lotti & Paolo Emilio Mistrulli, 2013. "Do Women Pay More For Credit? Evidence From Italy," Journal of the European Economic Association, European Economic Association, vol. 11, pages 45-66, January.
    6. Pietro Alessandrini & Andrea F. Presbitero & Alberto Zazzaro, 2009. "Banks, Distances and Firms' Financing Constraints," Review of Finance, European Finance Association, vol. 13(2), pages 261-307.
    7. Carletti, Elena & Cerasi, Vittoria & Daltung, Sonja, 2007. "Multiple-bank lending: Diversification and free-riding in monitoring," Journal of Financial Intermediation, Elsevier, pages 425-451.
    8. Muravyev, Alexander & Talavera, Oleksandr & Schäfer, Dorothea, 2009. "Entrepreneurs' gender and financial constraints: Evidence from international data," Journal of Comparative Economics, Elsevier, pages 270-286.
    9. Andrea Bellucci & Ilario Favaretto & Germana Giombini, 2012. "Imprese innovative ed accesso al credito. Un’indagine empirica," ARGOMENTI, FrancoAngeli Editore, vol. 2012(36), pages 5-27.
    10. Roy Thurik & Ingrid Verheul, 2000. "Start-up capital: Differences between male and female entrepreneurs," Scales Research Reports H199910, EIM Business and Policy Research.
    11. Uchida, Hirofumi & Udell, Gregory F. & Yamori, Nobuyoshi, 2012. "Loan officers and relationship lending to SMEs," Journal of Financial Intermediation, Elsevier, pages 97-122.
    12. Arito Ono & Iichiro Uesugi, 2009. "Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's SME Loan Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 935-960, August.
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    Cited by:

    1. Andrea Bellucci & Alexander Borisov & Germana Giombini & Alberto Zazzaro, 2015. "Collateral and Local Lending: Testing the Lender-Based Theory," IAW Discussion Papers 119, Institut für Angewandte Wirtschaftsforschung (IAW).

    More about this item

    Keywords

    Gender discrimination; Bank loan; Guarantees.;

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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