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Regulatory spillovers in local mortgage markets
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dc.contributor.author | Lim, Ivan | |
dc.contributor.author | Nguyen, Duc Duy Louis | |
dc.contributor.author | Nguyen, Linh | |
dc.date.accessioned | 2023-01-09T12:30:05Z | |
dc.date.available | 2023-01-09T12:30:05Z | |
dc.date.issued | 2024-08 | |
dc.identifier | 281687482 | |
dc.identifier | 38266912-67f6-490d-a108-cf52da3a2939 | |
dc.identifier | 000870791700001 | |
dc.identifier.citation | Lim , I , Nguyen , D D L & Nguyen , L 2024 , ' Regulatory spillovers in local mortgage markets ' , Review of Corporate Finance Studies , vol. 13 , no. 3 , cfac035 , pp. 775–817 . https://doi.org/10.1093/rcfs/cfac035 | en |
dc.identifier.issn | 2046-9128 | |
dc.identifier.other | ORCID: /0000-0003-0956-4227/work/126554738 | |
dc.identifier.uri | https://hdl.handle.net/10023/26715 | |
dc.description.abstract | We document novel evidence on the spillover effect of a corporate control regulation on local mortgage markets. We find that banks directly targeted by the Sarbanes-Oxley Act (SOX) to rectify their internal control weaknesses reduce mortgage originations following the regulation’s enactment. This causes mortgage credit to be reallocated toward other banks in the same local markets: while competing public banks expand lending to safer borrowers, private banks increase lending toward risky applicants. Consequently, loans originated by private banks in spillover counties report higher default rates. | |
dc.format.extent | 43 | |
dc.format.extent | 564761 | |
dc.language.iso | eng | |
dc.relation.ispartof | Review of Corporate Finance Studies | en |
dc.subject | HG Finance | en |
dc.subject | 3rd-DAS | en |
dc.subject.lcc | HG | en |
dc.title | Regulatory spillovers in local mortgage markets | en |
dc.type | Journal article | en |
dc.contributor.institution | University of St Andrews. Centre for Responsible Banking and Finance | en |
dc.contributor.institution | University of St Andrews. School of Management | en |
dc.identifier.doi | 10.1093/rcfs/cfac035 | |
dc.description.status | Peer reviewed | en |
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