Corporate choice of banks: Decision factors, decision maker, and decision process - First evidence

Journal of Corporate Finance

Volumn 17, Issue 2, 2011, Pages 326-351

  Ongena, Steven ^a,b   Tümer Alkan, Günseli ^c   Vermeer, Bram ^a  

^a TILBURG UNIVERSITY   (Netherlands)

^b CEPR   (United Kingdom)

^c VU UNIVERSITY AMSTERDAM   (Netherlands)

Author keywords

D7; Decision making; Firm bank relationships; G21; G32; Switching

Indexed keywords

EID: 78751705460     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jcorpfin.2010.09.006     Document Type: Article

References (39)

1. Adams R.B., Ferreira D. Moderation in groups: evidence from betting on ice break-ups in Alaska. Rev. Econ. Stud. 2010, 77(3):882-913.
2. Adams R.B., Almeida H., Ferreira D. Powerful CEOs and their impact on corporate performance. Rev. Financ. Stud. 2005, 18:1403-1432.
3. Agarwal, S., Hauswald, R., 2010. Distance and private information in lending. Rev. Financ. Stud. Forthcoming.
4. Altman E. Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. J. Finance 1968, 23(4):589-609.
5. Altman E. Predicting Financial Distress of Companies: Revisiting the Z-Score and ZETA Models. New York University, Working Paper 2000.
6. Bär M., Kempf A., Ruenzi S. Team Management and Mutual Funds. CFR Working Paper No. 05-10, Cologne 2005.
7. Barber B.M., Heath C., Odean T. Good reasons sell: reason-based choice among group and individual investors in the stock market. Manage. Sci. 2003, 49:1636-1652.
8. Berger A.N., Klapper L.F., Martinez Peria M.S., Zaidi R. Bank ownership type and banking relationships. J. Financ. Intermediat. 2006, 17(1):37-62.
9. Blinder A., Morgan J. Are two heads better than one? An experimental analysis of group versus individual decision making. J. Money Credit Bank. 2005, 37:789-811.
10. Bolton P., Scharfstein D.S. Optimal debt structure and the number of creditors. J. Politic. Econ. 1996, 104:1-25.
11. Bone J., Hey J., Suckling J. Are groups more (or less) consistent than individuals?. J. Risk Uncert. 1999, 18:63-81.
12. Carletti E. The structure of bank relationships. Endogenous monitoring, and loan rates. J. Financ. Intermediat. 2004, 13:58-86.
13. Cason T.N., Mui V.L. A laboratory study of group polarization in the team dictator game. Econ. J. 1997, 107:1465-1483.
14. Chemmanur T.J., Fulghieri P. Reputation, renegotiation, and the choice between bank loans and publicly traded debt. Rev. Financ. Stud. 1994, 7(3):475-506.
15. CNB Banking Supervision 2005 2005, Czech National Bank, Prague.
16. CNB Financial Stability Report 2005 2006, Czech National Bank, Prague.
17. Cosci S., Meliciani V. Multiple banking relationships: evidence from the Italian experience. Manchester School 2002, 70(1):37-54.
18. Degryse H., Ongena S. 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, 483-554. Elsevier. A. Thakor, A. Boot (Eds.).
19. Degryse H., Kim M., Ongena S. Microeconometrics of Banking: Methods, Applications and Results 2009, Oxford University Press, Oxford.
20. Degryse, H., Masschelein, N., Mitchell, J., 2010. Staying, Dropping, or Switching: The Impacts of Bank Mergers on Small Firms. Rev. Financ. Stud. Forthcoming.
21. Detragiache E., Garella P.G., Guiso L. Multiple versus single banking relationships: theory and evidence. J. Finance 2000, 55:1133-1161.
22. Farinha L.A., Santos J.A.C. Switching from single to multiple bank lending relationships: determinants and implications. J. Financ. Intermediat. 2002, 11:124-151.
23. Ferreira M.A., Matos P.P. Universal Banks and Corporate Control: Evidence from the Global Syndicated Loan Market. ECB Working Paper No. 1066 2009.
24. Finkelstein S., Hambrick D. Strategic Leadership: Top Executives and Their Effects on Organizations 1996, West, New York.
25. Guiso, L., Minetti, R., 2010. Multiple Creditors and Information Rights: Theory and Evidence from US Firms. Journal of Money, Credit and Banking. Forthcoming.
26. Harhoff D., Körting T. How Many Creditors Does it Take to Tango? 1998, Wissenschaftszentrum Berlin, Berlin.
27. Janis I. Groupthink: Psychological Studies of Policy Decisions and Fiascoes 1982, Houghton Mifflin, Boston.
28. Kocher M.G., Sutter M. The decision maker matters: individual versus group behavior in experimental beauty-contest games. Econ. J. 2005, 115:200-223.
29. Lieberson S., O'Connor J.F. Leadership and organizational performance: a study of large corporations. Am. Sociol. Rev. 1972, 37(2):117-130.
30. Ongena S., Smith D.C. What determines the number of bank relationships? Cross-country evidence. J. Financ. Intermediat. 2000, 9:26-56.
31. Ongena S., Smith D.C. The duration of bank relationships. J. Financ. Econ. 2001, 61:449-475.
32. Ongena S., Tümer-Alkan G., von Westernhagen N. Creditor Concentration: An Empirical Investigation. Working Paper 2010.
33. Prather L.J., Middleton K.L. Are N+1 heads better than one? The case of mutual fund managers. J. Econ. Behav. Org. 2002, 47:103-120.
34. Pruteanu-Podpiera A. The role of banks in the Czech monetary policy transmission mechanism. Econ. Transit. 2007, 15(2):393-428.
35. Pruteanu-Podpiera A., Weill L., Schobert F. Banking competition and efficiency: a micro-data analysis on the Czech banking sector. Comp. Econ. Stud. 2008, 50(2):253-273.
36. Rockenbach B., Sadrieh A., Mathauschek B. Teams take the better risks. J. Econ. Behav. Org. 2007, 63:412-422.
37. Stoner, J.A.F., 1961. A Comparison of Individual and Group Decisions Involving Risk. Sloan School of Management. MIT. Master's Thesis.
38. Stoner J.A.F. Risky and cautious shifts in group decisions. J. Exp. Soc. Psychol. 1968, 4:442-459.
39. Weiner N., Mahoney T.A. A model of corporate performance as a function of environmental, organizational, and leadership influences. Acad. Manage. J. 1981, 24(3):453-470.