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http://hdl.handle.net/10419/19774
  

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dc.contributor.authorOngena, Stevenen_US
dc.contributor.authorTümer-Alkan, Günselien_US
dc.contributor.authorvon Westernhagen, Nataljaen_US
dc.coverage.temporal1993-2003en_US
dc.date.accessioned2009-01-28T16:05:39Z-
dc.date.available2009-01-28T16:05:39Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/19774-
dc.description.abstractMost of the literature addressing multiple banking assumes equal financing shares. However, unequal, concentrated or asymmetric bank borrowing is widespread. This paper investigates the determinants of creditor concentration for German firms using a comprehensive bank-firm level dataset for the time period between 1993 and 2003. We document that lending is very often concentrated and, consequently, that relationship lending is important, not only for the small firms but also for the larger firms in our sample. However, we also find that risky, illiquid, large and leveraged firms spread their borrowing more evenly between multiple lenders. On the other hand, the degree of concentration increases with the profitability of the relationship lender. Relationship lending may spur financing provided by other banks, especially if the relationship lender is a public sector bank and if the other banks are large or do not have to tie up additional funds in capital.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion Paper, Series 2: Banking and Financial Supervision 2007,15en_US
dc.subject.jelG33en_US
dc.subject.jelG32en_US
dc.subject.jelG21en_US
dc.subject.ddc330en_US
dc.subject.keywordbank relationshipsen_US
dc.subject.keywordasymmetric financingen_US
dc.subject.keywordbanking competitionen_US
dc.subject.stwUnternehmenen_US
dc.subject.stwKrediten_US
dc.subject.stwLieferanten-Kunden-Beziehungen_US
dc.subject.stwGläubigeren_US
dc.subject.stwHausbanken_US
dc.subject.stwDeutschlanden_US
dc.titleCreditor concentration: an empirical investigationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn556670043en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp2:6927-
Appears in Collections:Discussion Paper Series 2: Banking and Financial Studies, Deutsche Bundesbank

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