Access to public capital markets and bank lending
研究了股权发行成本对银行贷款的影响，利用SEC规则变更作为准自然实验，发现受影响的银行增加了抵押贷款发放，减少了对预防性资本的需求，并降低了向第三方出售抵押贷款的可能性。
Abstract We examine how the cost of issuing equity affects bank lending. Using the SEC rule change that allowed exchange‐listed firms with public float less than $75 million to raise equity via shelf registrations as a quasi‐natural experiment, we show that the affected banks increase mortgage lending relative to control banks. Furthermore, the affected banks reduce demand for precautionary capital and become less likely to sell mortgages to third parties.