The Ability of Banks to Lend to Informationally Opaque Small Businesses
World Bank Publications, 2001 - Bank loans - 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 barriered banks Berger and Udell BNKASSET10 borrow from multiple Coef t-Stat Coef Coef t-Stat Intercept Dependent Variable Detragiache distressed banks Distressed-Bank Barriers Hypothesis domestically-owned banks Dunkelberg 1999 Economic Significance effects of bank effects of LNSIZE exacerbate opacity problems excluding state-owned banks financial distress firm borrows firm's primary activity firm's primary bank 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 firms Large-Bank Barriers Hypothesis lending to informationally Logit Regression 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 represent significance Scott and Dunkelberg secondary hypotheses single banking relationships Single-Bank Firm-Opacity Hypothesis small banks small business lending smaller firms smallest 25 study found supply of relationship t-Stat Coef t-Stat Tequila crisis World Bank Yan Wang