Advanced Search
MyIDEAS: Login to save this paper or follow this series

Structuration du pool bancaire de la PME : une revue de la littérature
[Structuring SMEs' banks relationships: a review]

Contents:

Author Info

  • Vigneron, Ludovic
  • Hajj Chehade, Hiba

Abstract

Competition intensification has deeply changed firms’ debt structure by increasing the number of banks from which they borrow at the same time. This paper is a literature review on small businesses banking pool. We examine three questions: What are the characteristics of the pool’s main bank? How many banks must be included in the pool in order to make it more efficient? How the relationships between the main bank and the secondary banks are organized?

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://mpra.ub.uni-muenchen.de/50498/
File Function: original version
Download Restriction: no

Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 50498.

as in new window
Length:
Date of creation: 07 Sep 2013
Date of revision:
Handle: RePEc:pra:mprapa:50498

Contact details of provider:
Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC

Related research

Keywords: Banks - debt structure – bank contracts – relationship banking;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

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.:
as in new window
  1. Sharpe, Steven A, 1990. " Asymmetric Information, Bank Lending, and Implicit Contracts: A Stylized Model of Customer Relationships," Journal of Finance, American Finance Association, American Finance Association, vol. 45(4), pages 1069-87, September.
  2. Martin Brown & Christian Zehnder, 2007. "The Emergence of Information Sharing in Credit Markets," IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich 317, Institute for Empirical Research in Economics - University of Zurich.
  3. D'Auria, Claudio & Foglia, Antonella & Reedtz, Paolo Marullo, 1999. "Bank interest rates and credit relationships in Italy," Journal of Banking & Finance, Elsevier, Elsevier, vol. 23(7), pages 1067-1093, July.
  4. Hans Degryse & Steven Ongena, 2005. "Distance, Lending Relationships, and Competition," Journal of Finance, American Finance Association, American Finance Association, vol. 60(1), pages 231-266, 02.
  5. Berger, Allen N. & Klapper, Leora F. & Udell, Gregory F., 2001. "The ability of banks to lend to informationally opaque small businesses," Policy Research Working Paper Series, The World Bank 2656, The World Bank.
  6. Harhoff, Dietmar & Korting, Timm, 1998. "Lending relationships in Germany - Empirical evidence from survey data," Journal of Banking & Finance, Elsevier, Elsevier, vol. 22(10-11), pages 1317-1353, October.
  7. Rajan, Raghuram G, 1992. " Insiders and Outsiders: The Choice between Informed and Arm's-Length Debt," Journal of Finance, American Finance Association, American Finance Association, vol. 47(4), pages 1367-400, September.
  8. Elsas, Ralf, 2005. "Empirical determinants of relationship lending," Journal of Financial Intermediation, Elsevier, Elsevier, vol. 14(1), pages 32-57, January.
  9. Grunert, Jens & Norden, Lars & Weber, Martin, 2005. "The role of non-financial factors in internal credit ratings," Journal of Banking & Finance, Elsevier, Elsevier, vol. 29(2), pages 509-531, February.
  10. Ernst-Ludwig von Thadden, 1992. "The Commitment of Finance, Duplicated Monitoring and the Investment Horizon," CEPR Financial Markets Paper, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 77 Bastwick Street, London EC1V 3PZ 0027, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 77 Bastwick Street, London EC1V 3PZ.
  11. Enrica Detragiache & Paolo Garella & Luigi Guiso, 2000. "Multiple versus Single Banking Relationships: Theory and Evidence," Journal of Finance, American Finance Association, American Finance Association, vol. 55(3), pages 1133-1161, 06.
  12. Mathias Dewatripont & Eric Maskin, 2004. "Credit and efficiency in centralized and decentralized economies," ULB Institutional Repository, ULB -- Universite Libre de Bruxelles 2013/9605, ULB -- Universite Libre de Bruxelles.
  13. Bannier, Christina E., 2009. "Is there a hold-up benefit in heterogeneous multiple bank financing?," Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management 117, Frankfurt School of Finance and Management.
  14. Raghuram G. Rajan & Luigi Zingales, 1998. "Which Capitalism? Lessons Form The East Asian Crisis," Journal of Applied Corporate Finance, Morgan Stanley, Morgan Stanley, vol. 11(3), pages 40-48.
  15. Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," NBER Working Papers 5661, National Bureau of Economic Research, Inc.
  16. João A. C. Santos & Luísa A. Farinha, 2000. "Switching from single to multiple bank lending relationships: determinants and implications," BIS Working Papers 83, Bank for International Settlements.
  17. Ongena, Steven & Smith, David C., 2001. "The duration of bank relationships," Journal of Financial Economics, Elsevier, Elsevier, vol. 61(3), pages 449-475, September.
  18. Carletti, Elena & Cerasi, Vittoria & Daltung, Sonja, 2007. "Multiple-bank lending: Diversification and free-riding in monitoring," Journal of Financial Intermediation, Elsevier, Elsevier, vol. 16(3), pages 425-451, July.
  19. Longhofer, Stanley D. & Santos, Joao A. C., 2000. "The Importance of Bank Seniority for Relationship Lending," Journal of Financial Intermediation, Elsevier, Elsevier, vol. 9(1), pages 57-89, January.
  20. Arturo Bris & Ivo Welch, 2005. "The Optimal Concentration of Creditors," Journal of Finance, American Finance Association, American Finance Association, vol. 60(5), pages 2193-2212, October.
  21. Besanko, David & Kanatas, George, 1993. "Credit Market Equilibrium with Bank Monitoring and Moral Hazard," Review of Financial Studies, Society for Financial Studies, Society for Financial Studies, vol. 6(1), pages 213-32.
  22. Luigi Guiso & Raoul Minetti, 2007. "The Structure of Multiple Credit Relationships: Evidence from US Firms," Economics Working Papers, European University Institute ECO2007/46, European University Institute.
  23. Robert Hauswald & Robert Marquez, 2006. "Competition and Strategic Information Acquisition in Credit Markets," Review of Financial Studies, Society for Financial Studies, Society for Financial Studies, vol. 19(3), pages 967-1000.
  24. Pinkowitz, Lee & Williamson, Rohan, 2001. "Bank Power and Cash Holdings: Evidence from Japan," Review of Financial Studies, Society for Financial Studies, Society for Financial Studies, vol. 14(4), pages 1059-82.
  25. Ogura, Yoshiaki, 2006. "Learning from a rival bank and lending boom," Journal of Financial Intermediation, Elsevier, Elsevier, vol. 15(4), pages 535-555, October.
  26. Bolton, Patrick & Scharfstein, David S, 1996. "Optimal Debt Structure and the Number of Creditors," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 104(1), pages 1-25, February.
  27. Dinc, I Serdar, 2000. "Bank Reputation, Bank Commitment, and the Effects of Competition in Credit Markets," Review of Financial Studies, Society for Financial Studies, Society for Financial Studies, vol. 13(3), pages 781-812.
  28. Mitchell A. Petersen & Raghuram G. Rajan, 2002. "Does Distance Still Matter? The Information Revolution in Small Business Lending," Journal of Finance, American Finance Association, American Finance Association, vol. 57(6), pages 2533-2570, December.
  29. Eric de Bodt & Frédéric Lobez & Jean-Christophe Statnik, 2005. "Credit Rationing, Customer Relationship and the Number of Banks: an Empirical Analysis," European Financial Management, European Financial Management Association, European Financial Management Association, vol. 11(2), pages 195-228.
  30. Christina Bannier, 2007. "Heterogeneous multiple bank financing: does it reduce inefficient credit-renegotiation incidences?," Financial Markets and Portfolio Management, Springer, Springer, vol. 21(4), pages 445-470, December.
  31. Lars Norden & Martin Weber, 2010. "Credit Line Usage, Checking Account Activity, and Default Risk of Bank Borrowers," Review of Financial Studies, Society for Financial Studies, Society for Financial Studies, vol. 23(10), pages 3665-3699, October.
  32. Valentina Meliciani & Stefania Cosci, 2005. "Multiple banking Relationships and Over-Leverage in Italian Manufacturing Firms," Money Macro and Finance (MMF) Research Group Conference 2005, Money Macro and Finance Research Group 87, Money Macro and Finance Research Group.
  33. Angelini, P. & Di Salvo, R. & Ferri, G., 1998. "Availability and cost of credit for small businesses: Customer relationships and credit cooperatives," Journal of Banking & Finance, Elsevier, Elsevier, vol. 22(6-8), pages 925-954, August.
  34. Elsas, Ralf & Krahnen, Jan Pieter, 1998. "Is relationship lending special? Evidence from credit-file data in Germany," CFS Working Paper Series, Center for Financial Studies (CFS) 1998/05, Center for Financial Studies (CFS).
  35. David E. Weinstein & Yishay Yafeh, 1998. "On the Costs of a Bank-Centered Financial System: Evidence from the Changing Main Bank Relations in Japan," Journal of Finance, American Finance Association, American Finance Association, vol. 53(2), pages 635-672, 04.
  36. Petersen, Mitchell A & Rajan, Raghuram G, 1994. " The Benefits of Lending Relationships: Evidence from Small Business Data," Journal of Finance, American Finance Association, American Finance Association, vol. 49(1), pages 3-37, March.
  37. Christian Koziol, 2006. "When does single-source versus multiple-source lending matter?," International Journal of Managerial Finance, Emerald Group Publishing, Emerald Group Publishing, vol. 2(1), pages 19-48, January.
  38. Cole, Rebel A., 1998. "The importance of relationships to the availability of credit," Journal of Banking & Finance, Elsevier, Elsevier, vol. 22(6-8), pages 959-977, August.
  39. Christophe Godlewski & Ydriss Ziane, 2010. "Concentration in bank lending: What do we learn from European comparisons?," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, ULB -- Universite Libre de Bruxelles, vol. 53(3/4), pages 441-455.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:50498. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.