Welcome to my website! I am an assistant professor at Copenhagen Business School. I obtained my PhD in Finance from Stockholm School of Economics in June 2020. I am interested in banking, corporate finance, and financial intermediation. You can find my CV here and a list of my ongoing projects below.
Email: yingjiee.qi@gmail.com
Mobile: +45 418 520 49
Postal address: Solbjerg Pl. 3, 2000 Frederiksberg, Denmark
Working papers
Big Broad Banks: How Does Cross-Selling Affect Lending? EFA Doctoral Tutorial Best Paper Prize 2019
Abstract: I study how profit from non-loan products affects relationship lending. Using internal information on all corporate borrowers of a large bank, I show that it increases (1) credit supply; and (2) lenience in delinquency. The effects are not only due to reduced information asymmetry (suggested by existing literature), but also increased return on banks’ investment in the relationships (profit channel). Using difference-in-differences variation generated by Basel II’s impact on non-loan products’ profitability, I show that a less profitable non-loan relationship leads to a decrease of 6.9% ($433,000) in credit supply and 24% (9.9 pp) in lenience in delinquency.
Conferences: AFA 2021, EFA 2020, CICF (2021), European Central Bank Young Economists’ Competition 2020
Cost of loans and moral hazard: Evidence from a quasi-experiment in Sweden (with Clara Fernström)
Abstract: We document the effects of higher borrowing cost on private firms in the presence of financial frictions by exploiting a novel quasi-experiment and a unique and comprehensive dataset from Sweden. In June 2010, the central bank of Sweden increased the repo rate unexpectedly and exposed firms with long term loan maturing right before or after the hike to different cost of borrowing. Consistent with the debt overhang theory, we find that higher cost of borrowing has a significant negative effect on investment, but more for highly levered firms. These results are robust to carefully controlling for firms' credit demand. Our findings highlight the importance of balance sheet heterogeneity in the responsiveness of firms to interest rate shocks.
Conferences: CEPR Second Annual Spring Symposium in Financial Economics (PhD poster session)
Work in progress
Banks, working capital funding, and trade credit (with Niklas Amberg and Tor Jacobson)
The role of government guarantee in bank lending (with Niklas Amberg and Tor Jacobson)
Publications
Bank misconduct and online lending (with Christoph Bertsch, Isaiah Hull, and Xin Zhang) Journal of Banking and Finance, Volume 116, July 2020
Summary: Misconduct (mis-selling and hidden fees etc.) in traditional banking sector drives borrowers to online lenders.
Conferences: EFA 2018, CEPR Third European Workshop on Household Finance, 4th IWH-FIN-FIRE Workshop in Halle