The effects of bank market power in short-term and long-term firm credit availability and investment

被引：5

作者：

Carbo-Valverde, Santiago ^{[1
]}

Mansilla-Fernandez, Jose Manuel ^{[2
]}

Rodriguez-Fernandez, Francisco ^{[3
]}

机构：

[1] Bangor Univ, Bangor Business Sch, Bangor, Gwynedd, Wales

[2] Univ Bologna, Dept Econ, Bologna, Italy

[3] Univ Granada, Dept Econ, Granada, Spain

来源：

SPANISH JOURNAL OF FINANCE AND ACCOUNTING-REVISTA ESPANOLA DE FINANCIACION Y CONTABILIDAD | 2017年 / 46卷 / 01期

关键词：

Bank loans; bank market power; Euler equation; firm investment rate; risk premium; CASH FLOW SENSITIVITIES; AUTOREGRESSIVE TIME-SERIES; TRADE CREDIT; COMPETITION; MERGERS; FINANCE; DETERMINANTS; IMPACT; GROWTH; TESTS;

D O I：

10.1080/02102412.2016.1242239

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This article investigates the short-term and long-term effects of bank market power on the availability of credit for companies, and on firm investment. Our results suggest that an increase in bank market power reduces firms' credit availability and investment in the short-term, but firm investment recovers in the long-term. The economic significance of these relationships is found to be larger for SMEs than for other (larger) firms.

引用

页码：1 / 27

页数：27

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