메뉴 건너뛰기




Volumn 13, Issue 2, 2009, Pages 309-340

Bank market power and SME financing constraints

Author keywords

[No Author keywords available]

Indexed keywords


EID: 65249170043     PISSN: 15723097     EISSN: 1573692X     Source Type: Journal    
DOI: 10.1093/rof/rfp003     Document Type: Article
Times cited : (268)

References (80)
  • 2
    • 33744953401 scopus 로고    scopus 로고
    • Relationships, competition, and the structure of investment banking markets
    • Anand, B. and Galetovic, A. (2006) Relationships, competition, and the structure of investment banking markets, Journal of Industrial Economics 54, 151-199.
    • (2006) Journal of Industrial Economics , vol.54 , pp. 151-199
    • Anand, B.1    Galetovic, A.2
  • 4
    • 84881844837 scopus 로고
    • Some tests of specification for panel data: Monte Carlo evidence and an application to employment equation
    • Arellano, M. and Bond, S. (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equation, Review of Economic Studies 58, 277-287.
    • (1991) Review of Economic Studies , vol.58 , pp. 277-287
    • Arellano, M.1    Bond, S.2
  • 5
    • 58149364940 scopus 로고
    • Another Look at the Instrumental-Variable estimation of Error-Components Models
    • Arellano, M. and Bover, O. (1995) Another Look at the Instrumental-Variable estimation of Error-Components Models, Journal of Econometrics 68, 29-51.
    • (1995) Journal of Econometrics , vol.68 , pp. 29-51
    • Arellano, M.1    Bover, O.2
  • 8
    • 0141464998 scopus 로고    scopus 로고
    • Bankruptcy risk and productive efficiency in manufacturing firms
    • Becchetti, L. and Sierra, J. (2003) Bankruptcy risk and productive efficiency in manufacturing firms, Journal of Banking and Finance 27, 2099-2120
    • (2003) Journal of Banking and Finance , vol.27 , pp. 2099-2120
    • Becchetti, L.1    Sierra, J.2
  • 10
    • 0042090711 scopus 로고    scopus 로고
    • Entrepreneurship and bank credit availability
    • Black, S. E. and Strahan, P. E. (2002) Entrepreneurship and bank credit availability, Journal of Finance 57, 2807-2833.
    • (2002) Journal of Finance , vol.57 , pp. 2807-2833
    • Black, S.E.1    Strahan, P.E.2
  • 11
    • 21344477870 scopus 로고
    • Oligopolistic Interdependence and the Structure of Production in Banking: An Empirical Evaluation
    • Berg, S. A. and Kim, M. (1994) Oligopolistic Interdependence and the Structure of Production in Banking: An Empirical Evaluation, Journal of Money, Credit, and Banking 26, 309-22.
    • (1994) Journal of Money, Credit, and Banking , vol.26 , pp. 309-322
    • Berg, S.A.1    Kim, M.2
  • 12
    • 0043246810 scopus 로고
    • The Profit Structure Relationship in Banking. Tests of Market-Power and Efficient-Structure Hypotheses
    • Berger, A. N. (1995) The Profit Structure Relationship in Banking. Tests of Market-Power and Efficient-Structure Hypotheses, Journal of Money, Credit, and Banking 27, 404-431.
    • (1995) Journal of Money, Credit, and Banking , vol.27 , pp. 404-431
    • Berger, A.N.1
  • 13
    • 16844377675 scopus 로고    scopus 로고
    • Does function follow organizational form? Evidence from the lending practices of large and small banks
    • Berger, A. N., Miller, N. H., Petersen, M. A., Rajan, R. G., and Stein, J. C. (2005). Does function follow organizational form? Evidence from the lending practices of large and small banks. Journal of Financial Economics 76, 237-269.
    • (2005) Journal of Financial Economics , vol.76 , pp. 237-269
    • Berger, A.N.1    Miller, N.H.2    Petersen, M.A.3    Rajan, R.G.4    Stein, J.C.5
  • 14
    • 84933491229 scopus 로고
    • Some evidence on the empirical significance of credit rationing
    • Berger, A. N. and Udell, G. F. (1992) Some evidence on the empirical significance of credit rationing, Journal of Political Economy 100, 1047-1077.
    • (1992) Journal of Political Economy , vol.100 , pp. 1047-1077
    • Berger, A.N.1    Udell, G.F.2
  • 15
    • 0038127300 scopus 로고
    • Relationship lending and lines of credit in small firm finance
    • Berger, A. N. and Udell, G. F (1995) Relationship lending and lines of credit in small firm finance, Journal of Business 68, 351-381.
    • (1995) Journal of Business , vol.68 , pp. 351-381
    • Berger, A.N.1    Udell, G.F.2
  • 16
    • 0001202725 scopus 로고    scopus 로고
    • The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle
    • Berger, A. N. and Udell, G. E (1998) The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle, Journal of Banking and Finance 22, 613-673
    • (1998) Journal of Banking and Finance , vol.22 , pp. 613-673
    • Berger, A.N.1    Udell, G.E.2
  • 17
    • 0036176411 scopus 로고    scopus 로고
    • Small Business Credit Availability and Relationship Lending: The Importance of Bank Organizational Structure
    • Berger, A. N. and Udell, G. F. (2002) Small Business Credit Availability and Relationship Lending: The Importance of Bank Organizational Structure, Economic Journal 112, 32-53.
    • (2002) Economic Journal , vol.112 , pp. 32-53
    • Berger, A.N.1    Udell, G.F.2
  • 18
    • 33750012864 scopus 로고    scopus 로고
    • A More Complete Conceptual Framework for SME Finance
    • Berger, A. N. and Udell, G. F. (2006) A More Complete Conceptual Framework for SME Finance, Journal of Banking and Finance 30, 2945-2966.
    • (2006) Journal of Banking and Finance , vol.30 , pp. 2945-2966
    • Berger, A.N.1    Udell, G.F.2
  • 19
    • 33845297616 scopus 로고    scopus 로고
    • Does Market Size Structure Affect Competition? The Case of Small Business Lending
    • Berger, A. N., Rosen, R. J., and Udell, G. F. (2007) Does Market Size Structure Affect Competition? The Case of Small Business Lending, Journal of Banking and Finance 31, 11-33.
    • (2007) Journal of Banking and Finance , vol.31 , pp. 11-33
    • Berger, A.N.1    Rosen, R.J.2    Udell, G.F.3
  • 21
    • 38249033570 scopus 로고
    • Competitive equilibrium in the credit market under asymmetric information
    • Besanko, D. and Thakor, A. V. (1987) Competitive equilibrium in the credit market under asymmetric information, Journal of Economic Theory 42, 167-182.
    • (1987) Journal of Economic Theory , vol.42 , pp. 167-182
    • Besanko, D.1    Thakor, A.V.2
  • 22
    • 0033470652 scopus 로고    scopus 로고
    • An empirical analysis of the potential for market power in California's electricity industry
    • Borenstein, S. and Bushnell, J. (1999) An empirical analysis of the potential for market power in California's electricity industry, The Journal of Industrial Economics 47, 285-323.
    • (1999) The Journal of Industrial Economics , vol.47 , pp. 285-323
    • Borenstein, S.1    Bushnell, J.2
  • 23
    • 0001438979 scopus 로고    scopus 로고
    • Initial conditions and Moment Restrictions in Dynamic Panel Data Models
    • Blundell, R. and Bond, S. (1998) Initial conditions and Moment Restrictions in Dynamic Panel Data Models, Journal of Econometrics 87, 115-144.
    • (1998) Journal of Econometrics , vol.87 , pp. 115-144
    • Blundell, R.1    Bond, S.2
  • 26
    • 84962999023 scopus 로고
    • Dynamic investment models and the firm's financial policy
    • Bond, S. and Meghir, C. (1994) Dynamic investment models and the firm's financial policy, Review of Economic Studies 61, 197-222.
    • (1994) Review of Economic Studies , vol.61 , pp. 197-222
    • Bond, S.1    Meghir, C.2
  • 27
  • 28
    • 0039012108 scopus 로고    scopus 로고
    • Can Relationship Banking Survive Competition?
    • Boot, A. and Thakor, A. (2000) Can Relationship Banking Survive Competition?, Journal of Finance 55, 679-713.
    • (2000) Journal of Finance , vol.55 , pp. 679-713
    • Boot, A.1    Thakor, A.2
  • 30
    • 0040844810 scopus 로고    scopus 로고
    • Does corporate lending by banks and finance companies differ? Evidence on specialization in private debt contracting
    • Carey, M., Post, M., Sharpe, S. A. (1998) Does corporate lending by banks and finance companies differ? Evidence on specialization in private debt contracting, Journal of Finance 53, 845-878.
    • (1998) Journal of Finance , vol.53 , pp. 845-878
    • Carey, M.1    Post, M.2    Sharpe, S.A.3
  • 31
    • 0012848108 scopus 로고    scopus 로고
    • Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data
    • Cetorelli, N. and Gambera, M. (2001) Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data, Journal of Finance 56, 617-648.
    • (2001) Journal of Finance , vol.56 , pp. 617-648
    • Cetorelli, N.1    Gambera, M.2
  • 32
    • 70350118398 scopus 로고
    • Panel data
    • Griliches, Z. and Intriligator, M. D, eds, North Holland
    • Chamberlain, G. (1984) Panel data, in Griliches, Z. and Intriligator, M. D., eds., Handbook of Econometrics, 1247-1318 (North Holland).
    • (1984) Handbook of Econometrics , pp. 1247-1318
    • Chamberlain, G.1
  • 33
    • 34047199848 scopus 로고    scopus 로고
    • Financial Dependence, Banking Sector Competition, and Economic Growth
    • Claessens, S. and Laeven, L. (2005), Financial Dependence, Banking Sector Competition, and Economic Growth, Journal of the European Economic Association 3, 179-207.
    • (2005) Journal of the European Economic Association , vol.3 , pp. 179-207
    • Claessens, S.1    Laeven, L.2
  • 34
    • 0000535904 scopus 로고
    • Market-structure determinants of national brand-private label price differences of manufactured food products
    • Connor, J. M. and Peterson, E. B. (1992) Market-structure determinants of national brand-private label price differences of manufactured food products, The Journal of Industrial Economics 40, 157-171.
    • (1992) The Journal of Industrial Economics , vol.40 , pp. 157-171
    • Connor, J.M.1    Peterson, E.B.2
  • 35
    • 84925903631 scopus 로고
    • Price-cost margins and market structure
    • Cowling, K. and Waterson, M. (1976) Price-cost margins and market structure, Economica 43, 247-274.
    • (1976) Economica , vol.43 , pp. 247-274
    • Cowling, K.1    Waterson, M.2
  • 38
    • 0002812128 scopus 로고    scopus 로고
    • Relationship lending within a bank-based system: Evidence from European small business data
    • Degryse, H. and Cayseele, P. Van (2000) Relationship lending within a bank-based system: Evidence from European small business data, Journal of Financial Intermediation 9, 90-109.
    • (2000) Journal of Financial Intermediation , vol.9 , pp. 90-109
    • Degryse, H.1    Cayseele, P.V.2
  • 40
    • 65249154240 scopus 로고    scopus 로고
    • Competition and regulation in the banking sector: A review of the empirical evidence on the sources of bank rents
    • Thakor, A. and Boot, A, eds, Elsevier
    • Degryse, H. and Ongena, S. (2008) Competition and regulation in the banking sector: A review of the empirical evidence on the sources of bank rents, in Thakor, A. and Boot, A. (eds.), Handbook of Financial Intermediation and Banking, 483-554 (Elsevier).
    • (2008) Handbook of Financial Intermediation and Banking , pp. 483-554
    • Degryse, H.1    Ongena, S.2
  • 41
    • 0035162384 scopus 로고    scopus 로고
    • Asymmetric information and the structure of the banking industry
    • Dell' Ariccia, G. (2001), Asymmetric information and the structure of the banking industry, European Economic Review 45, 1957-1980.
    • (2001) European Economic Review , vol.45 , pp. 1957-1980
    • Dell' Ariccia, G.1
  • 45
    • 33847329614 scopus 로고    scopus 로고
    • Market Size, Sendce Quality and Competition in Banking
    • Dick, A. A. (2007) Market Size, Sendce Quality and Competition in Banking, Journal of Money, Credit and Banking 39, 49-81.
    • (2007) Journal of Money, Credit and Banking , vol.39 , pp. 49-81
    • Dick, A.A.1
  • 46
    • 11444266001 scopus 로고    scopus 로고
    • Empirical determinants of relationship lending
    • Elsas, R. (2005) Empirical determinants of relationship lending Journal of Financial Intermediation 14, 32-57.
    • (2005) Journal of Financial Intermediation , vol.14 , pp. 32-57
    • Elsas, R.1
  • 48
    • 85012684255 scopus 로고
    • On classification probabilities for the disequilibrium model
    • Gersovitz, M. (1980) On classification probabilities for the disequilibrium model, Journal of Econometrics 14, 239-246.
    • (1980) Journal of Econometrics , vol.14 , pp. 239-246
    • Gersovitz, M.1
  • 49
    • 84891619973 scopus 로고    scopus 로고
    • What You Sell Is What You Lend? Explaining Trade Credit Contracts
    • forthcoming
    • Giannetti, M., Burkart, M., and Ellingsen, T. (2009) What You Sell Is What You Lend? Explaining Trade Credit Contracts, Review of Financial Studies (forthcoming).
    • (2009) Review of Financial Studies
    • Giannetti, M.1    Burkart, M.2    Ellingsen, T.3
  • 50
    • 0002494264 scopus 로고    scopus 로고
    • Market share inequality, the number of competitors, and the HHI: An examination of bank pricing
    • Hannan, T. H. (1997), Market share inequality, the number of competitors, and the HHI: An examination of bank pricing, Review of Industrial Organization 12: 23-35.
    • (1997) Review of Industrial Organization , vol.12 , pp. 23-35
    • Hannan, T.H.1
  • 51
    • 0000425569 scopus 로고
    • The Rigidity of Prices: Evidence from the Banking Industry
    • Hannan, T. H. y Berger, A. (1991) The Rigidity of Prices: Evidence from the Banking Industry. American Economic Review 81, 938-945.
    • (1991) American Economic Review , vol.81 , pp. 938-945
    • Hannan, T.H.1    Berger, A.2
  • 54
    • 0040978556 scopus 로고
    • Tests of equilibrium hypothesis in disequilibrium econometrics: An international comparison of credit rationing
    • Ito, T. and Ueda, K. (1981) Tests of equilibrium hypothesis in disequilibrium econometrics: An international comparison of credit rationing, International Economic Review 22, 691-708.
    • (1981) International Economic Review , vol.22 , pp. 691-708
    • Ito, T.1    Ueda, K.2
  • 55
    • 0033074609 scopus 로고    scopus 로고
    • How important are small banks to small business lending? New evidence from a survey to small businesses
    • Tayaratne, J. and Wolken, J. D. (1999) How important are small banks to small business lending? New evidence from a survey to small businesses, Journal of Banking and Finance 23, 427-458.
    • (1999) Journal of Banking and Finance , vol.23 , pp. 427-458
    • Tayaratne, J.1    Wolken, J.D.2
  • 56
    • 0003112060 scopus 로고    scopus 로고
    • Do Financing Constraints Explain why Investment is Correlated with Cash Flow?
    • Kaplan, S. and Zingales, L. (1997) Do Financing Constraints Explain why Investment is Correlated with Cash Flow?, Quarterly Journal of Economics 112, 169-215.
    • (1997) Quarterly Journal of Economics , vol.112 , pp. 169-215
    • Kaplan, S.1    Zingales, L.2
  • 57
    • 33845701233 scopus 로고    scopus 로고
    • Biases in static oligopoly models? Evidence from the California electricity market
    • Kim, D. and Knittel, C. R. (2006): Biases in static oligopoly models? Evidence from the California electricity market, The Journal of Industrial Economics 54, 451-470.
    • (2006) The Journal of Industrial Economics , vol.54 , pp. 451-470
    • Kim, D.1    Knittel, C.R.2
  • 58
    • 0003079950 scopus 로고
    • On identifying the degree of competitiveness from industry, price and output data
    • Lau, L.,(1982) "On identifying the degree of competitiveness from industry, price and output data", Economics Letters 10, 93-99.
    • (1982) Economics Letters , vol.10 , pp. 93-99
    • Lau, L.1
  • 60
    • 0000345468 scopus 로고
    • Maximum likelihood methods for models of markets in disequilibrium
    • Maddala, G. S. and Nelson, F.D. (1974) Maximum likelihood methods for models of markets in disequilibrium, Econometrica 42, 1003-1030.
    • (1974) Econometrica , vol.42 , pp. 1003-1030
    • Maddala, G.S.1    Nelson, F.D.2
  • 61
    • 65249119808 scopus 로고    scopus 로고
    • Mester, Loretta I, Nakamura, L. I. and Renault, M. (1998) Checking Accounts and Bank Monitoring, Working Paper, Federal Reserve Bank of Philadelphia.
    • Mester, Loretta I, Nakamura, L. I. and Renault, M. (1998) Checking Accounts and Bank Monitoring, Working Paper, Federal Reserve Bank of Philadelphia.
  • 65
    • 0034116332 scopus 로고    scopus 로고
    • Uncertainty and investment: Some evidence from the panel data of Japanese manufacturing firms
    • Ogawa, K., Suzuki, K. (2000) Uncertainty and investment: some evidence from the panel data of Japanese manufacturing firms, Japanese Economic Review 51, 170-192.
    • (2000) Japanese Economic Review , vol.51 , pp. 170-192
    • Ogawa, K.1    Suzuki, K.2
  • 67
    • 84993914974 scopus 로고
    • The Benefits of Lending Relationships: Evidence from Small Business Data
    • Petersen, M. A. and Rajan, R. G. (1994) The Benefits of Lending Relationships: Evidence from Small Business Data, Journal of Finance 49, 3-37.
    • (1994) Journal of Finance , vol.49 , pp. 3-37
    • Petersen, M.A.1    Rajan, R.G.2
  • 68
    • 84862244566 scopus 로고
    • The effect of credit market competition on lending relationships
    • Petersen, M. A. and Rajan, R. G. (1995) The effect of credit market competition on lending relationships, Quarterly Journal of Economics 110, 407-443.
    • (1995) Quarterly Journal of Economics , vol.110 , pp. 407-443
    • Petersen, M.A.1    Rajan, R.G.2
  • 70
    • 0008299101 scopus 로고
    • Market Share Inequality, the HHI, and Other Measures of the Firm-Composition of A Market
    • Rhoades, S. A. (1995) Market Share Inequality, the HHI, and Other Measures of the Firm-Composition of A Market, Review of Industrial Organization 10, 657-674.
    • (1995) Review of Industrial Organization , vol.10 , pp. 657-674
    • Rhoades, S.A.1
  • 72
    • 0001492102 scopus 로고
    • Concentration ratios and the degree of monopoly
    • Saving, T. R. (1970) Concentration ratios and the degree of monopoly, International Economic Review 11, 139-146.
    • (1970) International Economic Review , vol.11 , pp. 139-146
    • Saving, T.R.1
  • 73
    • 0002950718 scopus 로고
    • The Market-Power Foundations of Macroeconomic Policy
    • Silvestre, J. (1993) The Market-Power Foundations of Macroeconomic Policy, Journal of Economic Literature 31, 105-141
    • (1993) Journal of Economic Literature , vol.31 , pp. 105-141
    • Silvestre, J.1
  • 74
    • 70350108827 scopus 로고
    • Inter-industry Studies of Structure and Performance
    • Schmalensee, R. and Willig, R. D, eds, North-Holland, Amsterdam
    • Schmalensee, R. (1989) Inter-industry Studies of Structure and Performance, in Schmalensee, R. and Willig, R. D., (eds.), Handbook of Industrial Organisation, 2, 951-1009. North-Holland, Amsterdam.
    • (1989) Handbook of Industrial Organisation , vol.2 , pp. 951-1009
    • Schmalensee, R.1
  • 76
  • 77
    • 73649127454 scopus 로고    scopus 로고
    • Do Firms Benefit from Multiple Banking Relationships? Evidence from Small and Medium-Sized Firms in Japan
    • Hitotsubashi University Research Unit for Statistical Analysis in Social Sciences
    • Shikimi, M. (2005) Do Firms Benefit from Multiple Banking Relationships? Evidence from Small and Medium-Sized Firms in Japan, Discussion Paper Series, no70. Hitotsubashi University Research Unit for Statistical Analysis in Social Sciences.
    • (2005) Discussion Paper Series , Issue.NO70
    • Shikimi, M.1
  • 78
    • 3843103072 scopus 로고    scopus 로고
    • New York: The Commercial Finance Association
    • Udell, G. F. (2004) Asset-Based Finance, New York: The Commercial Finance Association.
    • (2004) Asset-Based Finance
    • Udell, G.F.1
  • 79
    • 3142711682 scopus 로고    scopus 로고
    • Does Bank Competition Affect How Much Firms Can Borrow? New Evidence from the U.S., presented at Corporate Governance: Implications for Financial Services Firms
    • Chicago, May 7-9
    • Zarutskie, R. (2003) Does Bank Competition Affect How Much Firms Can Borrow? New Evidence from the U.S., presented at Corporate Governance: Implications for Financial Services Firms, 39th Annual Conference on Bank Structure and Competition, Chicago, May 7-9, 2003.
    • (2003) 39th Annual Conference on Bank Structure and Competition
    • Zarutskie, R.1
  • 80
    • 33746211718 scopus 로고    scopus 로고
    • Evidence on the effects of bank competition on firm borrowing and investment
    • Zarutskie, R. (2006) Evidence on the effects of bank competition on firm borrowing and investment, Journal of Financial Economics 81, 503-537.
    • (2006) Journal of Financial Economics , vol.81 , pp. 503-537
    • Zarutskie, R.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.