Concentration, Hold-Up and Information Revelation in Bank Lending: Evidence From Chilean Firms
AbstractIn this paper we empirically study bank-client relationships using a sample of Chilean manufacturing firms. We examine whether concentration and the duration of bank-firm relationships affect the volume of bank lending. Our results indicate that lower concentration, measured by the number of banks a firm borrows from, is associated with a large and positive effect on borrowing. The length of borrower-lender relationships has a positive -although not always statistically significant- effect on the amount borrowed.
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Bibliographic InfoPaper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 226.
Date of creation: Oct 2003
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- Álvaro García & Andrea Repetto & Sergio Rodríguez & Rodrigo O. Valdés, 2004. "Concentration, Hold-up, and Information Revelation in Bank Lending: Evidence From Chilean Firms," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Antonio Ahumada & J. Rodrigo Fuentes & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.), Banking Market Structure and Monetary Policy, edition 1, volume 7, chapter 7, pages 211-240 Central Bank of Chile.
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- Raphael Bergoeing & Andrea Repetto & Raimundo Soto, 2003. "Unveiling the Micro-Dynamics of Sustained Growth in Chile," Documentos de Trabajo 248, Instituto de Economia. Pontificia Universidad Católica de Chile..
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