The Home Bias and the Credit Crunch: A Regional Perspective
利用意大利制造业企业贷款申请与决策的详细数据，发现信贷紧缩在由远程管理银行分支机构占比较高的省份更为严重，且财务更健康的企业在功能距离较远的信贷市场中受影响更大，符合全国性银行的本土偏好。
Using detailed data on loan applications and decisions for a large sample of manufacturing firms in Italy during the recent financial crisis, we find that the credit crunch has been harsher in provinces with a large share of branches owned by distantly managed banks. Inconsistent with a flight to quality we do not find evidence that economically weaker firms suffered more during the crisis. In contrast, we find that financially healthier firms were affected more in functionally distant credit markets than in markets populated by less distant banks, consistent with a home bias on the part of nationwide banks.