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Bank Competition and Firm Creation Author info | Abstract | Publisher info | Download info | Related research | Statistics Bonaccorsi di Patti, Emilia
Dell'Ariccia, Giovanni
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We investigate the effects of competition in the financial sector on the creation of firms in the nonfinancial sector, explicitly allowing for heterogeneous effects across borrowers characterized by different degrees of asymmetric information. We find evidence of a bell-shaped relationship between bank competition and firm creation. In addition, consistently with theories arguing that competition may reduce the availability of credit to informationally opaque firms, we find that bank competition results less favorable to the emergence of new firms in industrial sectors where informational asymmetries are more important.
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Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking .
Volume (Year): 36 (2004)
Issue (Month): 2 (April)
Pages: 225-51
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Handle: RePEc:mcb:jmoncb:v:36:y:2004:i:2:p:225-51Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Chiappori, Pierre-Andre & Perez-Castrillo, David & Verdier, Thierry, 1995.
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Stewart C. Myers & Raghuram G. Rajan, 1998.
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The Quarterly Journal of Economics ,
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Marco Pagano & Fabio Panetta & Luigi Zingales, .
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Other versions:
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NBER Working Papers
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Giovanni Dell'Ariccia & Ezra Friedman & Robert Marquez, 1999.
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Bonaccorsi di Patti, Emilia & Dell'Ariccia, Giovanni, 2004.
"Bank Competition and Firm Creation ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 36(2), pages 225-51, April.
Other versions:
Giovanni Dell'Ariccia, .
"Bank Competition and Firm Creation ,"
IMF Working Papers
01/21, International Monetary Fund.
Emilia Bonaccorsi Di Patti & Giovanni Dell'Ariccia, 2003.
"Bank competition and firm creation ,"
Temi di discussione (Economic working papers)
481, Bank of Italy, Economic Research Department.
[Downloadable!] Emilia Bonaccorsi di Patti & Giovanni Dell'Ariccia, 2000.
"Bank competition and firm creation ,"
Proceedings ,
Federal Reserve Bank of Chicago, issue May, pages 132-161.
Michael H. Riordan, 1992.
"Competition and Bank Performance: A Theoretical Perspective ,"
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458, Bank of Italy, Economic Research Department.
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Nicola Cetorelli, 2001.
"Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data ,"
Journal of Finance ,
American Finance Association, vol. 56(2), pages 617-648, 04.
[Downloadable!] (restricted)
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