Cookie Cutter vs. Character: The Micro Structure of Small Business Lending by Large and Small Banks
利用小企业调查数据，分析大小银行在贷款审批过程中的微观差异：大银行依赖财务报表的标准化标准，小银行更看重借款人的人品特征。
Abstract The informational opacity of small businesses makes them an interesting area for the study of banks' lending practices and procedures. We use data from a survey of small businesses to analyze the micro level differences in the loan approval processes of large and small banks. We provide evidence that large banks ($1 billion or more in assets) employ standard criteria obtained from financial statements in the loan decision process, whereas small banks rely to a greater extent on information about the character of the borrower. These cookie-cutter and character approaches are compatible with the incentives and environments facing large and small banks.