Banking stability and borrower discouragement: a multilevel analysis for SMEs in the EU-28
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Título: | Banking stability and borrower discouragement: a multilevel analysis for SMEs in the EU-28 |
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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: | Financial constraints Z-score | Financial integration | Two-level model | Information asymmetries |
Área/s de conocimiento: | Economía Financiera y Contabilidad |
Fecha de publicación: | 30-ene-2021 |
Editor: | Springer Nature |
Cita bibliográfica: | Small Business Economics. 2022, 58: 1579-1593. https://doi.org/10.1007/s11187-021-00457-w |
Resumen: | The promotion of a more stable European banking system has become a priority which, not doubt, will bring important benefits to firms. However, bank stability comes with stronger regulations that could harm the access to finance of small and medium-sized enterprises (SMEs), which are highly dependent on bank financing. We provide new evidence on the association between the stability of a country’s banking system and SMEs access to finance through the study of borrower discouragement. We analyze 20,207 observations gathered among 16,382 firms operating in the EU-28 during the period 2011–2018. Applying multilevel methodology, our results show that SMEs operating in countries with more stable banking systems are less likely to be discouraged from applying for a loan. Working to achieve a more stable banking system does not seem to harm the access to finance of SMEs. |
Patrocinador/es: | The authors acknowledge financial support from Agencia Estatal de Investigación (https://doi.org/10.13039/501100011033), research project PID2019-106314GB-I00/AEI/10.13039/501100011033. We also acknowledge financial support from Fundación UCEIF and Santander Financial Institute (SANFI). |
URI: | http://hdl.handle.net/10045/115025 |
ISSN: | 0921-898X (Print) | 1573-0913 (Online) |
DOI: | 10.1007/s11187-021-00457-w |
Idioma: | eng |
Tipo: | info:eu-repo/semantics/article |
Derechos: | © The Author(s), under exclusive licence to Springer Science+Business Media, LLC part of Springer Nature 2021 |
Revisión científica: | si |
Versión del editor: | https://doi.org/10.1007/s11187-021-00457-w |
Aparece en las colecciones: | Personal Investigador sin Adscripción a Grupo INV - Contabilidad y Finanzas - Artículos de Revistas |
Archivos en este ítem:
Archivo | Descripción | Tamaño | Formato | |
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Mol-Gomez-Vazquez_etal_2022_SmallBusEcon_final.pdf | Versión final (acceso restringido) | 378,44 kB | Adobe PDF | Abrir Solicitar una copia |
Mol-Gomez-Vazquez_etal_2022_SmallBusEcon_revised.pdf | Versión revisada (acceso abierto) | 312,32 kB | Adobe PDF | Abrir Vista previa |
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