GSIB status and corporate lending
研究发现，被认定为全球系统重要性银行（GSIB）后，银行平均贷款减少5.9%，对高风险企业贷款减少7.2%，导致企业资产、销售和投资增长放缓，研发支出下降，表明更严格的监管可能意外抑制企业创新。
Global Systemically Important Banks (GSIBs) face additional capital requirements and closer supervision. We study how closer supervision affects corporate credit supply and investigate consequences for firms. GSIB designations reduce lending on average by 5.9% but to risky firms by 7.2%. The consequences are lower asset, sales, and investment growth, especially among high-risk borrowers, and reduced R&D expenditures among all GSIB-dependent firms. Closer supervision therefore reduces banks' risk-taking but has potentially unintended implications for firms' ability to finance innovation, which seems to crucially depend on bank credit. The supervision-induced effects are larger than those attributed to GSIB-specific capital surcharges.