Open Universiteit

Please use this identifier to cite or link to this item: http://hdl.handle.net/1820/8170
Title: Angstdispositie bij kredietbeoordelaars en kredietverlening aan het MKB. Een onderzoek naar de beïnvloeding van angstdispositie bij kredietbeoordelaars in de bancaire kredietverlening op het aantal afwijzingen van financieringen aan het MKB en de eventuele (gedeeltelijke) verklaring van dit verband door risicoperceptie en loss aversion.
Authors: Vleij, Maurice
Keywords: Trait anxiety
Risk perception
Loss aversion
Bank loan officers
Credit lending
Issue Date: 25-Sep-2013
Publisher: Open Universiteit Nederland
Abstract: The research took place within all departments of ‘credit approval’ of a large Dutch general bank. Based on a literature review, it is assumed that trait anxiety of bank loan officers has a direct impact on the percentage number of rejections of loan applications of SMEs, in the sense that higher levels of trait anxiety leads to more rejections of loan applications. Furthermore, it is assumed that risk perception and loss aversion have a mediating effect on the above mentioned causal relationship. With this research, a first step is made in reducing the gap in the existing knowledge regarding the possible direct effect of anxiety on the human, individual decision making process within the context of bank lending to SME’s, as well as the partially indirect influence that anxiety has on rejection of loan applications through risk perception and loss aversion. In the study the level of trait anxiety, risk perception and loss aversion of bank loan officers was determined on the basis of recognized scientific techniques. The data of rejections of loan applications could be derived from decision forms which were made by every single bank loan officer during every single loan application. Striking fact from the research is that only 14 bank loan officers (9%) within the respective bank have a score which was higher than the mean of the norm group (Van der Ploeg, 1982). The complaint that is often heard (bank loan officers are too anxious to adopt certain credit proposals) therefore seems, not appropriate. Research into the causal relationships between the variables was done using statistical analyzes. For demonstrating a causal link several conditions must be met. One of those conditions is to demonstrate correlation between the variables. The correlation between the different variables was determined using correlation analysis. The research shows that the level of trait anxiety of a bank loan officer does not affect his or her percentage of rejections of loan applications. Because, initially, no correlation was found between trait anxiety and the percentage number of rejections of loan applications there could be no causal connection, so therefore there was actually nothing to mediate. Risk perception and loss aversion have thus within the current research therefore no mediating influence. Furthermore, trait anxiety of bank loan officers appears to have no effect on his or her risk perception in the financial domain. The same applies to the influence of trait anxiety on loss aversion. By the lack of correlation between mentioned variables it was demonstrated that the presumption of the existence of a causal relationship between trait anxiety and risk perception and a causal relationship between trait anxiety and loss aversion, is not correct. Separately the influence of the two so called mediators on the percentage of rejections of loan applications has been investigated. Both variables appear to be no predictive factors. The presumption that a causal relationship exists between loss aversion or risk perception and the percentage number of rejected loan applications was, based on statistical analysis, not correct (the statistical analyzes showed initially no correlation between the variables). It turns out that only 14 bank loan officers can be labeled as with ' high trait anxiety ' and that as many as 79 bank loan officers are classified as with ' high risk perception ", while from the theory is to lead that in assessing situations both variables contain dimensions which are identical. From this perspective, but outside the scope of the study, it was evaluated whether there is correlation between risk perception and loss aversion. It turns out that there is a positive correlation that is significant. The research results suggest that it is questionable how relevant trait anxiety, risk perception and loss aversion are for the decisions of bank loan officers. The thesis therefore closes with a discussion and recommendations for future research as well as some comments are made on the results of the research.
URI: http://hdl.handle.net/1820/8170
Appears in Collections:MSc Management Science

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