The ability of banks to lend to informationally opaque small businesses
World Bank, Development Research Group, Finance, 2001 - Business & Economics - 46 pages
Large and foreign-owned institutions may have difficulty extending relationship loans to informationally opaque small firms. Bank distress does not appear to affect small business lending, although even small firms may react to bank distress by borrowing from multiple banks.
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Argentina banks tend barriered banks Berger and Udell BNKASSET10 borrow from multiple Ceef Detragiache distress on lending distressed banks Distressed-Bank Barriers Hypothesis domestically-owned banks Dunkelberg 1999 ecee economic significance effects of bank effects of LNSIZE exacerbate opacity problems excluding state-owned banks financial distress firm borrows firm*s primary activity foreign banks foreign-owned banks Foreign-Owned-Bank Barriers Hypothesis Garella Guiso informational opacity informationally opaque firms informationally opaque small interaction term LNSIZE*DELINQ large banks large firms Large-Bank Barriers Hypothesis le.ele lending to informationally M&As main hypotheses measured effects multiple banks multiple lenders Multiple-Bank Bank-Distress Hypothesis Opacity/Relationship opaque small businesses pesos prediction primary bank distress receiving a loan relationship credit relationship lending services Scott and Dunkelberg secondary hypotheses seNeic single banking relationships Single-Bank Firm-Opacity Hypothesis small banks small business lending smaller firms smallest 25 study found Summary Statistics supply of relationship t-Satt t-Satt 3N6e t-Stat Tequila crisis Varia.1e World Bank