Banking Market Structure, Creation And Activity Of Firms: Early Evidence For Cooperatives In The Italian Case
This paper investigates whether local differences in banking competition impact on the creation and activity of firms, with a special focus on cooperatives. The empirical analysis, implemented on a sample of Italian firms, reveals non-monotonic effects of bank market power on firm creation and activity. In regard to the former, a bell-shaped relationship is found for both cooperative and non-cooperative firms, suggesting that a moderately concentrated banking market favours firms' creation. A less homogeneous pattern characterizes firms' activity: a bell-shaped parabola is still found for non-cooperative firms, while a U-shaped relationship emerges for cooperatives, showing that active coops benefit from relatively more intense banking competition. Copyright � 2009 The Author Journal compilation � CIRIEC 2009.
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Volume (Year): 80 (2009)
Issue (Month): 4 (December)
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