Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 7, 2021 erstellt
Description:
Following Miles and Snow’s Business Strategy (BS) topology, we find that banks imposerelatively higher loan spreads for the firms that follow an Innovation-Oriented Business Strategy(IOBS). We further document that IOBS is positively associated with corporate risk measures suchas variances in equity returns and returns on assets. Overall, our findings suggest that banks charge a higher cost of debt in anticipation of borrowers’ payback riskiness from an IOBS