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Banche e Imprese nei Distretti Industriali

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Author Info

  • Pietro ALESSANDRINI

    ()
    (Universita' Politecnica delle Marche, Dipartimento di Economia)

  • Andrea PRESBITERO

    ()
    (Universita' Politecnica delle Marche, Dipartimento di Economia)

  • Alberto ZAZZARO

    ()
    (Universita' Politecnica delle Marche, Dipartimento di Economia)

Abstract

Given the changes that occurred in the organization and specialization of Italian industrial districts and the changing geography of the banking system, in this paper is we aim at reassessing the bank-firm relationship in industrial districts. Using firm-level data on a sample of Italian SME, we examine the determinants of credit rationing and relationship lending. Firstly, we test whether firms located in industrial district area have more access to banking credit and rely more on relationship lending. Secondly, we assess if being localized in industrial clusters have heterogeneous effects due to the structure of local credit markets. Our results point out the firms operating in industrial districts are less credit rationed, while their probability of relationship lending is not significantly different from the one of the average firm. Furthermore, a higher operational proximity of banks to local economies is associated with more access to banking credit and and to a lower probability of engaging in relationship lending, while a higher functional distance of the banking system from local communities is associated with tighter financing constraints and a lower probability of relationship lending. These effects are significantly intensified for firms located inside industrial districts.

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File URL: http://docs.dises.univpm.it/web/quaderni/pdf/309.pdf
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Bibliographic Info

Paper provided by Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali in its series Working Papers with number 309.

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Length: 22
Date of creation: Jan 2008
Date of revision:
Handle: RePEc:anc:wpaper:309

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Related research

Keywords: banche; distanza funzionale; distretti; razionamento; relationaship lending;

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Cited by:
  1. Giulio Cainelli & Sandro Montresor & Giuseppe Vittucci Marzetti, 2010. "Production and financial linkages in inter-firm networks: structural variety, risk-sharing and resilience," Openloc Working Papers 1018, Public policies and local development.
  2. Giannetti, Caterina, 2012. "Relationship lending and firm innovativeness," Journal of Empirical Finance, Elsevier, vol. 19(5), pages 762-781.

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