EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data
Macroprudential policies aim to preserve financial stability by curbing excessive risk-taking in the financial system. As a knock-on effect, they can also impact investment activity by firms. This study uses firm-level data from the European Investment Bank Investment Survey (EIBIS) for the period 2...
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| Format: | Online |
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| Sprog: | engelsk |
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European Investment Bank
2025
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| Online adgang: | ONIX_20250402_9789286159008_22 |
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| _version_ | 1869521895285587968 |
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| collection | Directory of Open Access Books |
| description | Macroprudential policies aim to preserve financial stability by curbing excessive risk-taking in the financial system. As a knock-on effect, they can also impact investment activity by firms. This study uses firm-level data from the European Investment Bank Investment Survey (EIBIS) for the period 2015-2022 to investigate exactly how different kinds of firms and corporate investment are affected by such macroprudential policies. This analysis confirms that the tightening of macroprudential policies influences bank lending decisions and leads to a reduction in corporate investment. More specifically, the study shows that financially weaker banks are more likely to restrict credit in response to such tightening. Firms that are heavily reliant on external finance for investment, as well as those that are financially weaker, are more adversely affected by a reduced supply of credit supply. Investments in tangible assets are more strongly affected than investment in intangibles, as firms anyway find it harder to obtain credit finance for investments in intangibles assets. |
| format | Online |
| id | doab-20.500.12854ir-158110 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2025 |
| publishDateRange | 2025 |
| publishDateSort | 2025 |
| publisher | European Investment Bank |
| publisherStr | European Investment Bank |
| record_format | ojs |
| spelling | doab-20.500.12854ir-1581102025-07-30T09:00:09Z EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting Macroprudential policies aim to preserve financial stability by curbing excessive risk-taking in the financial system. As a knock-on effect, they can also impact investment activity by firms. This study uses firm-level data from the European Investment Bank Investment Survey (EIBIS) for the period 2015-2022 to investigate exactly how different kinds of firms and corporate investment are affected by such macroprudential policies. This analysis confirms that the tightening of macroprudential policies influences bank lending decisions and leads to a reduction in corporate investment. More specifically, the study shows that financially weaker banks are more likely to restrict credit in response to such tightening. Firms that are heavily reliant on external finance for investment, as well as those that are financially weaker, are more adversely affected by a reduced supply of credit supply. Investments in tangible assets are more strongly affected than investment in intangibles, as firms anyway find it harder to obtain credit finance for investments in intangibles assets. 2025-04-03T13:21:02Z 2025-04-03T13:21:02Z 2025-04-02T13:56:22Z 2025 book ONIX_20250402_9789286159008_22 https://library.oapen.org/handle/20.500.12657/100565 9789286159008 https://directory.doabooks.org/handle/20.500.12854/158110 eng open access image/jpeg n/a https://library.oapen.org/bitstream/20.500.12657/100565/1/9789286159008_pdf.pdf European Investment Bank 10.2867/2193600 10.2867/2193600 feca012f-a3d8-4aac-95aa-b6cf4bdbed7c 9789286159008 72 Luxembourg open access |
| spellingShingle | thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data |
| title | EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data |
| title_full | EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data |
| title_fullStr | EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data |
| title_full_unstemmed | EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data |
| title_short | EIB Working Paper 2025/02 - How do macroprudential policies affect corporate investment? Insights from EIBIS data |
| title_sort | eib working paper 2025 02 how do macroprudential policies affect corporate investment insights from eibis data |
| topic | thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting |
| topic_facet | thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting |
| url | ONIX_20250402_9789286159008_22 |