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Relationship Lending And Small Business Finance Empirical Relationship Lending And Small Business Finance Empirical Analysis Of Cost Of Capital Credit Rationing And Firm Performance
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Book Synopsis Relationship Lending and Small Business Finance: Empirical Analysis of Cost of Capital, Credit Rationing and Firm Performance by : Judit Montoriol Garriga
Download or read book Relationship Lending and Small Business Finance: Empirical Analysis of Cost of Capital, Credit Rationing and Firm Performance written by Judit Montoriol Garriga and published by . This book was released on 2006 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Relationship lending and small business finance by : Judit Montoriol Garriga
Download or read book Relationship lending and small business finance written by Judit Montoriol Garriga and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Relationship Lending and Small Business Finance: Empirical Relationship Lending and Small Business Finance: Empirical Analysis of Cost of Capital, Credit Rationing, and Firm Performance by :
Download or read book Relationship Lending and Small Business Finance: Empirical Relationship Lending and Small Business Finance: Empirical Analysis of Cost of Capital, Credit Rationing, and Firm Performance written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Resum Aquesta tesis investiga les fonts de valor de la banca relacional per les empreses. Després dun primer capítol introductori, el Capítol 2 revisa les contribucions més rellevants en la literatura de la banca relacional. El Capítol 3 adreça la pregunta si la banca relacional és compatible amb la competència bancària, usant dades duna enquesta a petites empreses dEstats Units. El resultat principal és que les tecnologies de banca relacional poden ser usades en les mercats bancaris més competitius sempre i quan les empreses es comprometin a demanar prestat de un sol banc. El Capítol 4 proposa una estratègia empírica per tal de discriminar entre les prediccions teòriques oposades de tenir una relació banc-empresa exclusiva: estimar lefecte diferencial en el cost i la disponibilitat del crèdit segons el grau de competència bancària. El Capítol 5 estudia lefecte de la banca relacional en la rendibilitat de lempresa. Pels dos últims capítols sutilitzen dades de panel de 70,000 petites i mitjanes empreses espanyoles (1993-2004). Els resultats són consistents amb la visió que els bancs sapropien majoritàriament del valor generat en les relacions properes amb les empreses sempre i quan no senfrontin a la competència daltres prestadors. Abstract This thesis investigates the sources of the value of lending relationships to the borrowing firm. After a first introductory chapter, Chapter 2 reviews the most relevant contributions to the relationship lending literature. Chapter 3 addresses the question of whether relationship lending is compatible with banking competition, using a survey of small firms in the United States. The main result is that relationship lending technologies are used in the most competitive banking markets as long as firms commit to borrowing from a single lender. Chapter 4 proposes an empirical strategy to disentangle the opposite theoretical predictions of exclusive bank-firm relationships: estimate the differential effect on cost and availability of c.
Book Synopsis Utilization of Soft Information on Bank Performance by : Tadanori Yosano
Download or read book Utilization of Soft Information on Bank Performance written by Tadanori Yosano and published by Springer. This book was released on 2019-07-20 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the effects of soft information utilization in the decision process for lenders, especially concerning small and medium-sized enterprises (SMEs) in regional markets. This study is one of the first to use questionnaire survey data from lender representatives, and analyzes the relationship between the financial metrics of a lender’s performance and soft information factors in inter-bank competition. The authors’ empirical results suggest that utilizing soft information allows banks to attain a more precise lending decision. The Financial Services Agency in Japan introduced an action program in 2003 that requires regional banks to shift from transaction banking to relationship lending. Against that background, this book examines the influence of relationship lending on a lender’s performance. This study found that relationship lending allows lenders to charge a higher premium to counteract the high risk involved with SMEs. The book also examines how relationship lending affects lending performance in inter-bank competition. The conclusion is that, even though inter-bank competition has negative effects, a bank in a competitive local market can acquire an informational advantage to limit its own loss. This book categorizes three soft information factors: organizational systems, networks or alliances/partnerships, and business/management leadership based on survey data. The authors’ findings suggest that information production, especially network and business/leadership information, plays an essential role in promoting a bank’s profitability. These effects are strong even when banks face high inter-bank competition. Relationship lending not only improves bankers’ lending techniques, but also fosters and enhances their community knowledge and enables them to survive in a highly competitive market.
Book Synopsis A More Complete Conceptual Framework for Financing of Small and Medium Enterprises by : Allen N. Berger
Download or read book A More Complete Conceptual Framework for Financing of Small and Medium Enterprises written by Allen N. Berger and published by World Bank Publications. This book was released on 2005 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors propose a more complete conceptual framework for analysis of credit availability for small and medium enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national financial structures affect credit availability. They emphasize a causal chain from policy to financial structures which affect the feasibility and profitability of different lending technologies. These technologies, in turn, have important effects on SME credit availability. Financial structures include the presence of different financial institution types and the conditions under which they operate. Lending technologies include several transactions technologies, plus relationship lending. The authors argue that the framework implicit in most of the literature is oversimplified, neglects key elements of the chain, and often yields misleading conclusions. A common oversimplification is the treatment of transactions technologies as a homogeneous group, unsuitable for serving informationally opaque SMEs, and a frequent misleading conclusion is that large institutions are disadvantaged in lending to opaque SMEs.
Book Synopsis Surprising Use of Credit Scoring in Small Business Lending by Community Banks and the Attendant Effects on Credit Availability and Risk by : Allen N. Berger
Download or read book Surprising Use of Credit Scoring in Small Business Lending by Community Banks and the Attendant Effects on Credit Availability and Risk written by Allen N. Berger and published by DIANE Publishing. This book was released on 2010-06 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a positive relationship between the use of credit scoring for small business (SB) loans and SB credit availability. This report employs data from a new survey on the use of credit scoring in SB lending, primarily by community banks. The survey evidence suggests that the use of credit scores in SB lending by community banks is surprisingly widespread. Moreover, the scores employed tend to be the consumer credit scores of the SB owners rather than the more encompassing SB credit scores that include data on the firms as well as on the owners. This empirical analysis suggests that credit scoring is associated with increased SB lending after a learning period, with no material change in the quality of the loan portfolio. Charts ad tables.
Book Synopsis Relationship Lending and Lines of Credit in Small Firm Finance by : Allen N. Berger
Download or read book Relationship Lending and Lines of Credit in Small Firm Finance written by Allen N. Berger and published by . This book was released on 2014 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of relationship lending in small firm finance. We examine price and nonprice terms of bank lines of credit (L/C) extended to small firms. Our focus on bank L/Cs allows us toe examine a type of loan contract in which the bank-borrower relationship is likely to be an important mechanism for solving asymmetric information problems associated with financing small enterprises. We find that borrowers with longer banking relationships pay lower interest rates and are less likely to pledge collateral. These results are consistent with theoretical arguments that relationship lending generates valuable information about borrower quality.
Book Synopsis The Ability of Banks to Lend to Informationally Opaque Small Businesses by : N. Allen Berger
Download or read book The Ability of Banks to Lend to Informationally Opaque Small Businesses written by N. Allen Berger and published by World Bank Publications. This book was released on 1999 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: August 2001 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. Consolidation of the banking industry is shifting assets into larger institutions that often operate in many nations. Large international financial institutions are geared toward serving large wholesale customers. How does this affect the banking system's ability to lend to informationally opaque small businesses? Berger, Klapper, and Udell test hypotheses about the effects of bank size, foreign ownership, and distress on lending to informationally opaque small firms, using a rich new data set on Argentinean banks, firms, and loans. They also test hypotheses about borrowing from a single bank versus borrowing from several banks. Their results suggest that large and foreign-owned institutions may have difficulty extending relationship loans to opaque small firms, especially if small businesses are delinquent in repaying their loans. Bank distress resulting from lax prudential supervision and regulation appears to have no greater effect on small borrowers than on large borrowers, although even small firms may react to bank distress by borrowing from multiple banks, despite raising borrowing costs and destroying some of the benefits of exclusive lending relationships. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to study small and medium size firm financing. The authors may be contacted at [email protected], [email protected], or [email protected].
Book Synopsis Relationship Lending and Small and Medium Enterprise Finance by : Naveed Ahmed
Download or read book Relationship Lending and Small and Medium Enterprise Finance written by Naveed Ahmed and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Lines of Credit, Collateral, and Relationship Lending in Small Firm Finance by : Allen N. Berger
Download or read book Lines of Credit, Collateral, and Relationship Lending in Small Firm Finance written by Allen N. Berger and published by . This book was released on 1994 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Securitization of Small Business Loans by : Christopher Beshouri
Download or read book Securitization of Small Business Loans written by Christopher Beshouri and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Relationship Lending by : Christoph Memmel
Download or read book Relationship Lending written by Christoph Memmel and published by . This book was released on 2016 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relationship lending is a common practice in credit financing all over the world, particularly in Germany. On the basis of a comprehensive data set comprising information on firm-bank relationships for more than 16,000 observations, this study analyses the determinants of relationship lending in Germany. We find that small, young and R&D-intensive firms tend to choose relationship lending. Furthermore, we find that firms with a higher creditworthiness are more likely to choose a relationship lender. We find that the importance of relationship lending stayed roughly constant since the mid 90s.
Book Synopsis Collateral, Default Risk, and Relationship Lending by : Ralf Elsas
Download or read book Collateral, Default Risk, and Relationship Lending written by Ralf Elsas and published by . This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Access to Bank Credit and SME Financing by : Stefania Rossi
Download or read book Access to Bank Credit and SME Financing written by Stefania Rossi and published by Springer. This book was released on 2016-12-02 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how the global financial and European sovereign debt crises have forced small-and-medium-sized businesses (SMEs) to reassess and adapt their funding strategies. At the heart of the matter is the worsening access to bank credit for such enterprises. Through this discussion we learn how crucial an understanding of SME-financing is to policy makers, in light of the fact that SMEs dominate the business landscape in Europe and are the main drivers of employment, growth and innovation in the European economy. Contributing chapters present expert analysis and investigate many topics including the problems faced by SMEs in accessing bank credit and the cost of funding and its determinants. Particular attention is also given to how credit-constrained enterprises may reformulate their funding strategies by employing alternative, non-bank, financial resources, and how regulators could support SMEs in broadening and improving their funding opportunities.
Book Synopsis Differentiated Use of Small Business Credit Scoring by Relationship Lenders and Transactional Lenders by : Ryo Hasumi
Download or read book Differentiated Use of Small Business Credit Scoring by Relationship Lenders and Transactional Lenders written by Ryo Hasumi and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the ex-post performance of small and medium-sized enterprises (SMEs) that obtained small business credit scoring (SBCS) loans. Using a unique Japanese firm-bank matched dataset, we identify whether an SME has obtained an SBCS loan and, if so, from which type of bank: a relationship lender or a transactional lender. We find that the ex-post probability of default after the SBCS loan was provided significantly increased for SMEs that obtained an SBCS loan from a transactional lender. We also find that the lending attitude of relationship lenders in the midst of the recent global financial crisis became much more severe if a transactional lender had extended an SBCS loan to a firm. These findings suggest that SBCS loans by a transactional lender are detrimental to a relationship lender's incentive to monitor SMEs and maintain relationships. In contrast, we do not find such detrimental effects for SBCS loans extended by a relationship lender.
Book Synopsis Bank Restructuring and the Availability of Credit to SMEs by : Adam Sechooler
Download or read book Bank Restructuring and the Availability of Credit to SMEs written by Adam Sechooler and published by . This book was released on 2009 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bank lending and entrepreneurial finance by :
Download or read book Bank lending and entrepreneurial finance written by and published by The Fraser Institute. This book was released on 2008 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: However, the reports also find that Canadian banks lag behind industry leaders in the two most important measures relating to entrepreneurial businesses: the amount of bank lending (in terms of the quantity of funds) and the terms by which that lending is provided. [...] An analysis of the structural influences suggests that environmental features, such as the scale of the economy, the size of the banks, and the degree of concentration of the banking system, cannot explain the differences in bank performance between Canada and other industrialized countries. [...] Bank loans and the funding of entrepreneurial business The importance of different sources of finance for entrepreneurial businesses is difficult to gauge directly because of the diversity of these businesses. [...] The Milken Institute bank performance measures The Banking and Financial Index (BF Index), a subcategory of the Capital Access Index that is important to this study, assesses the contribution of a country's financial institutions to entre- preneurial finance on the basis of the following banking performance measures: •. Claims on non-financial firms as a percentage of GDP; •. Bank assets as a perc [...] The breadth of the banking measures used by the BF Index means that the items included differ substantially in terms of their relevance to the contribution of a country to entrepreneurial finance.
