School of Economics and Management

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PhD Defense Ms. D. Morales Arenas, MSc

Title: Bank Credit and Business Financing
Supervisor: Prof. S. Ongena
Co-supervisor: Dr. M.F. Penas

This dissertation consists of three essays on empirical banking. They explore the bank lending granted to businesses. Chapter 1 explores the effect of less stringent collateral requirements on small firms’ employment growth. Not having to pledge collateral seems to have an effect on the growth strategy of very small firms leading to a more rapid increase of their workforce. Chapter 2 analyzes the access to long-term credit by firms following takeovers of many domestic banks by foreign banks. Overall, our findings suggest that a wholesale takeover of domestic banks by foreign banks has a widely-shared positive impact on loan rate, in the immediate post-takeover period, and on the loan amount, spread over time. Chapter 3 studies the impact of banking sector reforms on bank lending and trade credit among medium and large firms. A much stronger regulation, either loosening or tightening, seems to spur a bank lending complement, trade credit, among medium and large firms.

 Diana Morales Arenas obtained her B.Sc. in Actuarial Science in 2007 at Mexico Autonomous Institute of Technology (ITAM) and her M.Sc. degree in Finance in 2012 at Bocconi University. In the same year, she joined Tilburg University and commenced her doctoral studies. She obtained her Research Master in Finance in 2013, when she joined the Department of Finance as a Ph.D. candidate. She was also a Junior Research Fellow at European Banking Center from Tilburg University. During the summer 2016, she worked at the Bank for International Settlements. In 2017, she became part of the research program for young researchers at the National Bank of Belgium. Her primary research interests include banking, access to financial services, financial system, financial regulation, financial stability, and the relationship between the financial sector and the economy.

Location: Cobbenhagen building, Ruth First room (access via Koopmans building)

Order the PhD thesis

When: 26 March 2018 10:00

Where: Route description Tilburg University campus