Do foreign banks intensify borrower discouragement? The role of developed European institutions in ameliorating SME financing constraints
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Título: | Do foreign banks intensify borrower discouragement? The role of developed European institutions in ameliorating SME financing constraints |
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Autor/es: | Mol-Gómez-Vázquez, Ana | Hernández-Cánovas, Ginés | Koëter-Kant, Johanna |
Centro, Departamento o Servicio: | Universidad de Alicante. Departamento de Economía Financiera y Contabilidad |
Palabras clave: | Borrower discouragement | Financing constraints | Foreign banks | Institutional development | Small business lending |
Área/s de conocimiento: | Economía Financiera y Contabilidad |
Fecha de publicación: | 1-feb-2020 |
Editor: | SAGE Publications |
Cita bibliográfica: | International Small Business Journal: Researching Entrepreneurship. 2020, 38(1): 3-20. doi:10.1177/0266242619868231 |
Resumen: | The growing activity of foreign banks in most European countries may increase financing constraints by intensifying the problem of borrower discouragement. We provide new evidence of this association by analysing a sample of small and medium-sized enterprises (SMEs) operating in 25 developed and developing European countries. We find that financing constraints increase with foreign banks for those SMEs operating in countries where the share of banking assets owned by foreign banks is above 34%. Our results also show that borrower discouragement may decrease, or increase less, with the presence of foreign banks for SMEs operating in countries with high income, with cheap debt enforcement mechanisms, or having a private bureau that provides credit information about firms and individuals. These results suggest that unification towards better institutions needs to occur in Europe before the banking union progresses to a more open banking system. |
Patrocinador/es: | Ana Mol-Gómez-Vázquez and Ginés Hernández-Cánovas acknowledge financial support by Santander Financial Institute (SANFI) and Fundación UCEIF. |
URI: | http://hdl.handle.net/10045/101313 |
ISSN: | 0266-2426 (Print) | 1741-2870 (Online) |
DOI: | 10.1177/0266242619868231 |
Idioma: | eng |
Tipo: | info:eu-repo/semantics/article |
Derechos: | © The Author(s) 2019 |
Revisión científica: | si |
Versión del editor: | https://doi.org/10.1177/0266242619868231 |
Aparece en las colecciones: | Personal Investigador sin Adscripción a Grupo INV - Contabilidad y Finanzas - Artículos de Revistas |
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2020_Mol-Gomez-Vazquez_etal_ISBJ_final.pdf | Versión final (acceso restringido) | 156,26 kB | Adobe PDF | Abrir Solicitar una copia |
2020_Mol-Gomez-Vazquez_etal_ISBJ_postprint.pdf | Post-print (acceso abierto) | 228,64 kB | Adobe PDF | Abrir Vista previa |
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