Bank market power and the intensity of borrower discouragement: analysis of SMEs across developed and developing European countries
Por favor, use este identificador para citar o enlazar este ítem:
http://hdl.handle.net/10045/137972
Título: | Bank market power and the intensity of borrower discouragement: analysis of SMEs across developed and developing European countries |
---|---|
Autor/es: | Mol-Gómez-Vázquez, Ana | Hernández-Cánovas, Ginés | Koëter-Kant, Johanna |
Grupo/s de investigación o GITE: | Contabilidad y Finanzas (CyF) |
Centro, Departamento o Servicio: | Universidad de Alicante. Departamento de Economía Financiera y Contabilidad |
Palabras clave: | Borrower discouragement | Bank market power | Small business financing | Financial constraints |
Fecha de publicación: | 27-abr-2018 |
Editor: | Springer Nature |
Cita bibliográfica: | Small Business Economics. 2019, 53: 211-225. https://doi.org/10.1007/s11187-018-0056-y |
Resumen: | This paper analyzes the effect of bank market power on the financial constraints of small and medium-sized enterprises (SMEs) through the study of borrower discouragement. We use a cross-country sample of 2582 firms in 25 developed and developing European countries. Our results show that the intensity of borrower discouragement decreases with the level of bank market power, and this result is robust to the use of concentration and industrial organization measures of competition. When our model allows for non-monotonic effects, we show that more bank market power might increase borrower discouragement for firms operating in less developed economies and in countries with a high degree of bank market power. These results explain the conflicting evidence provided in previous literature concerning countries with different levels of economic development and bank market power. Our paper sets limits to the continuous concentration process in the European banking market, which may result in more discouraged and financially restricted SMEs. |
Patrocinador/es: | Ginés Hernández-Cánovas acknowledges financial support by Fundación Séneca (Project 15403/PHCS/10). |
URI: | http://hdl.handle.net/10045/137972 |
ISSN: | 0921-898X (Print) | 1573-0913 (Online) |
DOI: | 10.1007/s11187-018-0056-y |
Idioma: | eng |
Tipo: | info:eu-repo/semantics/article |
Derechos: | © Springer Science+Business Media, LLC, part of Springer Nature 2018 |
Revisión científica: | si |
Versión del editor: | https://doi.org/10.1007/s11187-018-0056-y |
Aparece en las colecciones: | INV - Contabilidad y Finanzas - Artículos de Revistas |
Archivos en este ítem:
Archivo | Descripción | Tamaño | Formato | |
---|---|---|---|---|
Mol-Gomez-Vazquez_etal_2019_SmallBusEcon_final.pdf | Versión final (acceso restringido) | 534,18 kB | Adobe PDF | Abrir Solicitar una copia |
Mol-Gomez-Vazquez_etal_2019_SmallBusEcon_revised.pdf | Versión revisada (acceso abierto) | 446,58 kB | Adobe PDF | Abrir Vista previa |
Todos los documentos en RUA están protegidos por derechos de autor. Algunos derechos reservados.