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Bank Mergers and Small Firm Financing

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  • Scott, Jonathan A
  • Dunkelberg, William C
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    Abstract

    In this study the effect of bank mergers on the most recent attempt to obtain financing from a sample U.S. small firms in the mid-1990s is examined. Banking mergers, which affected about 25% of the firms responding to the survey, had no significant effect on the ability of small firms to obtain a loan or the contract loan rate on the most recent loan from a commercial bank. However, the incidence of mergers does appear to increase nonprice loan terms, increase the incidence of related fees for services, raise the frequency of searching for a new bank, and result in deterioration of service quality Little evidence is found that the most informationally opaque firms (e.g., the smallest firms) bear a higher cost from mergers than do less informationally opaque firms.

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    Bibliographic Info

    Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

    Volume (Year): 35 (2003)
    Issue (Month): 6 (December)
    Pages: 999-1017

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    Handle: RePEc:mcb:jmoncb:v:35:y:2003:i:6:p:999-1017

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    Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

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    Cited by:
    1. Marco Celentani & MiguelGarcía-Posada & Teresa Molina, 2010. "Profesionalización e internalización de las decisiones económico-financieras. Evidencia empírica sobre las Pymes manufactureras en España," Economic Reports 03-2010, FEDEA.
    2. Hans Degryse & Nancy Masschelein & Janet Mitchell, 2005. "SMEs and bank lending relationships: the impact of mergers," Proceedings 993, Federal Reserve Bank of Chicago.
    3. Shannon Mudd, 2013. "Bank Structure, Relationship Lending and Small Firm Access to Finance: A Cross-Country Investigation," Journal of Financial Services Research, Springer, vol. 44(2), pages 149-174, October.
    4. Fidrmuc, Jarko & Hainz, Christa, 2008. "Integrating with Their Feet: Cross-Border Lending at the German-Austrian Border," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 248, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    5. Pedro Barros & Diana Bonfim & Moshe Kim & Nuno Martins, 2014. "Counterfactual analysis of bank mergers," Empirical Economics, Springer, vol. 46(1), pages 361-391, February.
    6. Evren Damar, H., 2007. "Does post-crisis restructuring decrease the availability of banking services? The case of Turkey," Journal of Banking & Finance, Elsevier, vol. 31(9), pages 2886-2905, September.
    7. Montoriol-Garriga, Judit, 2008. "Bank mergers and lending relationships," Working Paper Series 0934, European Central Bank.
    8. Jonathan Scott, 2004. "Small Business and the Value of Community Financial Institutions," Journal of Financial Services Research, Springer, vol. 25(2), pages 207-230, April.
    9. Eugene Kang & Asghar Zardkoohi & Ramona Paetzold & Donald Fraser, 2013. "Relationship banking and escalating commitments to bad loans," Small Business Economics, Springer, vol. 40(4), pages 899-910, May.

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