메뉴 건너뛰기




Volumn 65, Issue 5, 2010, Pages 1847-1877

"Time for a change": Loan conditions and bank behavior when firms switch banks

Author keywords

[No Author keywords available]

Indexed keywords


EID: 77957122924     PISSN: 00221082     EISSN: 15406261     Source Type: Journal    
DOI: 10.1111/j.1540-6261.2010.01596.x     Document Type: Article
Times cited : (237)

References (55)
  • 1
    • 77957172550 scopus 로고    scopus 로고
    • Switching costs in local credit markets
    • Working paper, Banca d'Italia
    • Barone Guglielmo, Felici Roberto, Pagnini Marcello. Switching costs in local credit markets. 2006, Working paper, Banca d'Italia
    • (2006)
    • Barone, G.1    Felici, R.2    Pagnini, M.3
  • 4
    • 0038127300 scopus 로고
    • Relationship lending and lines of credit in small firm finance
    • Berger Allen N, Udell Gregory F. Relationship lending and lines of credit in small firm finance. Journal of Business 1995, 68:351-381.
    • (1995) Journal of Business , vol.68 , pp. 351-381
    • Berger, A.N.1    Udell, G.F.2
  • 5
    • 0036176411 scopus 로고    scopus 로고
    • Small business credit availability and relationship lending: The importance of bank organisational structure
    • Berger Allen N, Udell Gregory F. Small business credit availability and relationship lending: The importance of bank organisational structure. Economic Journal 2002, 112:32-53.
    • (2002) Economic Journal , vol.112 , pp. 32-53
    • Berger, A.N.1    Udell, G.F.2
  • 6
    • 38249033570 scopus 로고
    • Competitive equilibrium in the credit market under asymmetric information
    • Besanko David, Thakor Anjan V. Competitive equilibrium in the credit market under asymmetric information. Journal of Economic Theory 1987, 42:167-183.
    • (1987) Journal of Economic Theory , vol.42 , pp. 167-183
    • Besanko, D.1    Thakor, A.V.2
  • 7
    • 84981865845 scopus 로고
    • Screening vs. rationing in credit markets with imperfect information
    • Bester Helmut. Screening vs. rationing in credit markets with imperfect information. American Economic Review 1985, 75:850-855.
    • (1985) American Economic Review , vol.75 , pp. 850-855
    • Bester, H.1
  • 8
    • 38249033877 scopus 로고
    • The role of collateral in credit markets with imperfect information
    • Bester Helmut. The role of collateral in credit markets with imperfect information. European Economic Review 1987, 31:887-899.
    • (1987) European Economic Review , vol.31 , pp. 887-899
    • Bester, H.1
  • 9
    • 0001019649 scopus 로고
    • Proprietary information, financial intermediation, and research incentives
    • Bhattacharya Sudipto, Chiesa Gabriella. Proprietary information, financial intermediation, and research incentives. Journal of Financial Intermediation 1995, 4:328-357.
    • (1995) Journal of Financial Intermediation , vol.4 , pp. 328-357
    • Bhattacharya, S.1    Chiesa, G.2
  • 10
    • 77957105880 scopus 로고    scopus 로고
    • An empirical analysis of insider rates vs. outsider rates in bank lending
    • Working paper, Federal Reserve Board
    • Black Lamont K. An empirical analysis of insider rates vs. outsider rates in bank lending. 2006, Working paper, Federal Reserve Board
    • (2006)
    • Black, L.K.1
  • 11
    • 77957141938 scopus 로고    scopus 로고
    • Insider rates vs. outsider rates in bank lending
    • Finance and Economics Discussion Paper 36, Federal Reserve Board
    • Black Lamont K. Insider rates vs. outsider rates in bank lending. 2008, Finance and Economics Discussion Paper 36, Federal Reserve Board
    • (2008)
    • Black, L.K.1
  • 13
    • 21444444859 scopus 로고
    • Moral hazard and secured lending in an infinitely repeated credit market game
    • Boot Arnoud W A, Thakor Anjan V. Moral hazard and secured lending in an infinitely repeated credit market game. International Economic Review 1994, 35:899-920.
    • (1994) International Economic Review , vol.35 , pp. 899-920
    • Boot, A.W.A.1    Thakor, A.V.2
  • 14
    • 33745960391 scopus 로고    scopus 로고
    • Entry and strategic information display in credit markets
    • Bouckaert Jan, Degryse Hans. Entry and strategic information display in credit markets. Economic Journal 2006, 116:702-720.
    • (2006) Economic Journal , vol.116 , pp. 702-720
    • Bouckaert, J.1    Degryse, H.2
  • 15
    • 34250364615 scopus 로고    scopus 로고
    • Evidence of jointness in the terms of relationship lending
    • Brick Ivan E, Palia Darius. Evidence of jointness in the terms of relationship lending. Journal of Financial Intermediation 2007, 16:452-476.
    • (2007) Journal of Financial Intermediation , vol.16 , pp. 452-476
    • Brick, I.E.1    Palia, D.2
  • 16
    • 0000907784 scopus 로고
    • Optimal investment financing decisions and the value of confidentiality
    • Campbell Tim S. Optimal investment financing decisions and the value of confidentiality. Journal of Financial and Quantitative Analysis 1979, 14:232-257.
    • (1979) Journal of Financial and Quantitative Analysis , vol.14 , pp. 232-257
    • Campbell, T.S.1
  • 17
    • 33846373810 scopus 로고    scopus 로고
    • Client information sharing in Bolivia
    • Campion Anita. Client information sharing in Bolivia. Journal of Microfinance 2001, 3:45-63.
    • (2001) Journal of Microfinance , vol.3 , pp. 45-63
    • Campion, A.1
  • 18
    • 84977718809 scopus 로고
    • Collateral and competitive equilibria with moral hazard and private information
    • Chan Yuk-Shee, Thakor Anjan V. Collateral and competitive equilibria with moral hazard and private information. Journal of Finance 1987, 42:345-363.
    • (1987) Journal of Finance , vol.42 , pp. 345-363
    • Chan, Y.1    Thakor, A.V.2
  • 19
    • 21844511403 scopus 로고
    • Reputation, renegotiation and the choice between bank loans and publicly traded debt
    • Chemmanur Thomas J, Fulghieri Paolo. Reputation, renegotiation and the choice between bank loans and publicly traded debt. Review of Financial Studies 1994, 7:475-506.
    • (1994) Review of Financial Studies , vol.7 , pp. 475-506
    • Chemmanur, T.J.1    Fulghieri, P.2
  • 20
    • 0002881625 scopus 로고    scopus 로고
    • The importance of relationships to the availability of credit
    • Cole Rebel A. The importance of relationships to the availability of credit. Journal of Banking and Finance 1998, 22:959-977.
    • (1998) Journal of Banking and Finance , vol.22 , pp. 959-977
    • Cole, R.A.1
  • 21
    • 0000252414 scopus 로고    scopus 로고
    • Bank interest rates and credit relationships in Italy
    • D'Auria Claudio, Foglia Antonella, Reedtz Paolo Marullo. Bank interest rates and credit relationships in Italy. Journal of Banking and Finance 1999, 23:1067-1093.
    • (1999) Journal of Banking and Finance , vol.23 , pp. 1067-1093
    • D'Auria, C.1    Foglia, A.2    Reedtz, P.M.3
  • 22
    • 77957115965 scopus 로고    scopus 로고
    • Credit bureaus and the rural microfinance sector: Peru, Guatemala, and Bolivia, Joint Project with FAO
    • The University of California at Berkeley
    • de Janvry Alain, Sadoulet Elisabeth, McIntosh Craig, Wydick Bruce, Luoto Jill, Gordillo Gustavo, Schuetz Guilherme. Credit bureaus and the rural microfinance sector: Peru, Guatemala, and Bolivia, Joint Project with FAO. 2003, The University of California at Berkeley
    • (2003)
    • de Janvry, A.1    Sadoulet, E.2    McIntosh, C.3    Wydick, B.4    Luoto, J.5    Gordillo, G.6    Schuetz, G.7
  • 24
    • 79953881901 scopus 로고    scopus 로고
    • Staying, dropping, or switching: The impacts of bank mergers on small firms
    • DOI:10.1093/rfs/hhp126
    • Degryse Hans, Masschelein Nancy, Mitchell Janet. Staying, dropping, or switching: The impacts of bank mergers on small firms. Review of Financial Studies 2009, 10.1093/rfs/hhp126, DOI
    • (2009) Review of Financial Studies
    • Degryse, H.1    Masschelein, N.2    Mitchell, J.3
  • 25
    • 12344330813 scopus 로고    scopus 로고
    • Distance, lending relationships, and competition
    • Degryse Hans, Ongena Steven. Distance, lending relationships, and competition. Journal of Finance 2005, 60:231-266.
    • (2005) Journal of Finance , vol.60 , pp. 231-266
    • Degryse, H.1    Ongena, S.2
  • 26
    • 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 AV, Boot AWA. eds, Elsevier, Amsterdam
    • Degryse Hans, Ongena Steven. Competition and regulation in the banking sector: A review of the empirical evidence on the sources of bank rents. Handbook of Financial Intermediation and Banking 2008, Thakor Anjan V, Boot Arnoud W A. eds, Elsevier, Amsterdam
    • (2008) Handbook of Financial Intermediation and Banking
    • Degryse, H.1    Ongena, S.2
  • 27
    • 0002812128 scopus 로고    scopus 로고
    • Relationship lending within a bank-based system: Evidence from European small business data
    • Degryse Hans, Van Cayseele Patrick. Relationship lending within a bank-based system: Evidence from European small business data. Journal of Financial Intermediation 2000, 9:90-109.
    • (2000) Journal of Financial Intermediation , vol.9 , pp. 90-109
    • Degryse, H.1    Van Cayseele, P.2
  • 28
    • 0036102924 scopus 로고    scopus 로고
    • Propensity score-matching methods for nonexperimental causal studies
    • Dehejia Rajeev H, Wahba Sadek. Propensity score-matching methods for nonexperimental causal studies. Review of Economics and Statistics 2002, 84:151-161.
    • (2002) Review of Economics and Statistics , vol.84 , pp. 151-161
    • Dehejia, R.H.1    Wahba, S.2
  • 29
    • 84935413182 scopus 로고
    • Monitoring and reputation: the choice between bank loans and privately placed debt
    • Diamond Douglas W. Monitoring and reputation: the choice between bank loans and privately placed debt. Journal of Political Economy 1991, 99:689-721.
    • (1991) Journal of Political Economy , vol.99 , pp. 689-721
    • Diamond, D.W.1
  • 30
    • 33644630451 scopus 로고    scopus 로고
    • On the sequencing of projects, reputation building, and relationship finance
    • Egli Dominik, Ongena Steven, Smith David C. On the sequencing of projects, reputation building, and relationship finance. Finance Research Letters 2006, 3:23-39.
    • (2006) Finance Research Letters , vol.3 , pp. 23-39
    • Egli, D.1    Ongena, S.2    Smith, D.C.3
  • 31
    • 0001533965 scopus 로고    scopus 로고
    • Is relationship lending special? Evidence from credit-file data in Germany
    • Elsas Ralf, Krahnen Jan Pieter. Is relationship lending special? Evidence from credit-file data in Germany. Journal of Banking and Finance 1998, 22:1283-1316.
    • (1998) Journal of Banking and Finance , vol.22 , pp. 1283-1316
    • Elsas, R.1    Krahnen, J.P.2
  • 32
    • 0036226570 scopus 로고    scopus 로고
    • Switching from single to multiple bank lending relationships: Determinants and implications
    • Farinha Luisa A, Santos Jothomampersand. Switching from single to multiple bank lending relationships: Determinants and implications. Journal of Financial Intermediation 2002, 11:124-151.
    • (2002) Journal of Financial Intermediation , vol.11 , pp. 124-151
    • Farinha, L.A.1    Santos, J.2
  • 33
    • 77957149845 scopus 로고    scopus 로고
    • Why do firms switch banks
    • Working paper, Indiana University
    • Gopalan Radhakrishnan, Udell Gregory F, Yerramilli Vijay. Why do firms switch banks. 2007, Working paper, Indiana University
    • (2007)
    • Gopalan, R.1    Udell, G.F.2    Yerramilli, V.3
  • 34
    • 73449100571 scopus 로고    scopus 로고
    • Bank effects and the determinants of loan yield spreads
    • Working paper, York University
    • Hao Li. Bank effects and the determinants of loan yield spreads. 2003, Working paper, York University
    • (2003)
    • Hao, L.1
  • 35
    • 0000923818 scopus 로고    scopus 로고
    • Lending relationships in Germany-Empirical evidence from survey data
    • Harhoff Dietmar, Körting Timm. Lending relationships in Germany-Empirical evidence from survey data. Journal of Banking and Finance 1998, 22:1317-1353.
    • (1998) Journal of Banking and Finance , vol.22 , pp. 1317-1353
    • Harhoff, D.1    Körting, T.2
  • 36
    • 0042788827 scopus 로고    scopus 로고
    • Information technology and financial services competition
    • Hauswald Robert, Marquez Robert. Information technology and financial services competition. Review of Financial Studies 2003, 16:921-948.
    • (2003) Review of Financial Studies , vol.16 , pp. 921-948
    • Hauswald, R.1    Marquez, R.2
  • 37
    • 33747880934 scopus 로고    scopus 로고
    • Competition and strategic information acquisition in credit markets
    • Hauswald Robert, Marquez Robert. Competition and strategic information acquisition in credit markets. Review of Financial Studies 2006, 19:967-1000.
    • (2006) Review of Financial Studies , vol.19 , pp. 967-1000
    • Hauswald, R.1    Marquez, R.2
  • 38
    • 84993880604 scopus 로고
    • Information sharing in credit markets
    • Jappelli Tullio, Pagano Marco. Information sharing in credit markets. Journal of Finance 1993, 63:1693-1718.
    • (1993) Journal of Finance , vol.63 , pp. 1693-1718
    • Jappelli, T.1    Pagano, M.2
  • 39
    • 77957167299 scopus 로고    scopus 로고
    • Information sharing and information acquisition in the credit industry
    • Working paper, Harvard University
    • Karapetyan Artashes, Stacescu Bogdan. Information sharing and information acquisition in the credit industry. 2008, Working paper, Harvard University
    • (2008)
    • Karapetyan, A.1    Stacescu, B.2
  • 40
    • 31444451940 scopus 로고    scopus 로고
    • Initiative, incentives and soft information: How does delegation impact the role of bank relationship managers
    • Working paper, Kellogg School of Management Northwestern
    • Liberti Josthomampersan. Initiative, incentives and soft information: How does delegation impact the role of bank relationship managers. 2004, Working paper, Kellogg School of Management Northwestern
    • (2004)
    • Liberti, J.1
  • 41
    • 32144463963 scopus 로고    scopus 로고
    • Credit reporting systems around the globe: The state of the art in public credit registries and private credit reporting firms
    • Miller MJ. ed, MIT Press, Cambridge, MA
    • Miller Margaret J. Credit reporting systems around the globe: The state of the art in public credit registries and private credit reporting firms. Credit Reporting Systems and the International Economy 2003, Miller Margaret J. ed, MIT Press, Cambridge, MA
    • (2003) Credit Reporting Systems and the International Economy
    • Miller, M.J.1
  • 43
    • 40849094426 scopus 로고    scopus 로고
    • Lending to small businesses: The role of loan maturity in addressing information problems
    • Ortiz-Molina Hernan, Penas M Fabiana. Lending to small businesses: The role of loan maturity in addressing information problems. Small Business Economics 2008, 30:361-383.
    • (2008) Small Business Economics , vol.30 , pp. 361-383
    • Ortiz-Molina, H.1    Penas, M.F.2
  • 44
    • 0031542829 scopus 로고    scopus 로고
    • Endogenous communication among lenders and entrepreneurial incentives
    • Padilla A Jorge, Pagano Marco. Endogenous communication among lenders and entrepreneurial incentives. Review of Financial Studies 1997, 10:205-236.
    • (1997) Review of Financial Studies , vol.10 , pp. 205-236
    • Padilla, A.J.1    Pagano, M.2
  • 45
    • 0033668040 scopus 로고    scopus 로고
    • Sharing default information as a borrower discipline device
    • Padilla A Jorge, Pagano Marco. Sharing default information as a borrower discipline device. European Economic Review 2000, 44:1951-1980.
    • (2000) European Economic Review , vol.44 , pp. 1951-1980
    • Padilla, A.J.1    Pagano, M.2
  • 46
    • 84993914974 scopus 로고
    • The benefits of lending relationships: Evidence from small business data
    • Petersen Mitchell A, Rajan Raghuram G. The benefits of lending relationships: Evidence from small business data. Journal of Finance 1994, 49:3-37.
    • (1994) Journal of Finance , vol.49 , pp. 3-37
    • Petersen, M.A.1    Rajan, R.G.2
  • 47
    • 34250332527 scopus 로고    scopus 로고
    • The role of guarantees in bank lending
    • Working paper, Ente Luigi Einaudi
    • Pozzolo Alberto Franco. The role of guarantees in bank lending. 2004, Working paper, Ente Luigi Einaudi
    • (2004)
    • Pozzolo, A.F.1
  • 48
    • 84977702514 scopus 로고
    • Insiders and outsiders: The choice between informed and arm's-length debt
    • Rajan Raghuram G. Insiders and outsiders: The choice between informed and arm's-length debt. Journal of Finance 1992, 47:1367-1400.
    • (1992) Journal of Finance , vol.47 , pp. 1367-1400
    • Rajan, R.G.1
  • 49
    • 77951225604 scopus 로고    scopus 로고
    • Lending relationships and information rents: Do banks exploit their information advantages
    • Schenone Carola. Lending relationships and information rents: Do banks exploit their information advantages. Review of Financial Studies 2010, 23:1149-1199.
    • (2010) Review of Financial Studies , vol.23 , pp. 1149-1199
    • Schenone, C.1
  • 50
    • 84977733424 scopus 로고
    • Asymmetric information, bank lending and implicit contracts: A stylized model of customer relationships
    • Sharpe Steven A. Asymmetric information, bank lending and implicit contracts: A stylized model of customer relationships. Journal of Finance 1990, 45:1069-1087.
    • (1990) Journal of Finance , vol.45 , pp. 1069-1087
    • Sharpe, S.A.1
  • 52
    • 0006973041 scopus 로고
    • Credit bureau policy and sustainable reputation effects in credit markets
    • Vercammen James A. Credit bureau policy and sustainable reputation effects in credit markets. Economica 1995, 62:461-478.
    • (1995) Economica , vol.62 , pp. 461-478
    • Vercammen, J.A.1
  • 53
    • 84924953133 scopus 로고
    • Long-term contracts, short-term investment, and monitoring
    • von Thadden Ernst-Ludwig. Long-term contracts, short-term investment, and monitoring. Review of Economic Studies 1995, 62:557-575.
    • (1995) Review of Economic Studies , vol.62 , pp. 557-575
    • von Thadden, E.1
  • 54
    • 3242694457 scopus 로고    scopus 로고
    • Asymmetric information, bank lending, and implicit contracts: The winner's curse
    • von Thadden Ernst-Ludwig. Asymmetric information, bank lending, and implicit contracts: The winner's curse. Finance Research Letters 2004, 1:11-23.
    • (2004) Finance Research Letters , vol.1 , pp. 11-23
    • von Thadden, E.1
  • 55
    • 0001917884 scopus 로고
    • Information disclosure costs and the choice of financing source
    • Yosha Oved. Information disclosure costs and the choice of financing source. Journal of Financial Intermediation 1995, 4:3-20.
    • (1995) Journal of Financial Intermediation , vol.4 , pp. 3-20
    • Yosha, O.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.