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dc.contributor.authorGambini, Alessandroen
dc.contributor.authorZazzaro, Albertoen
dc.date.accessioned2010-07-08-
dc.date.accessioned2010-08-18T11:19:04Z-
dc.date.available2010-08-18T11:19:04Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/38980-
dc.description.abstractA puzzling but consistent result in the empirical literature on banking is that firms with close bank ties do not grow faster than bank-independent firms. In this paper, we reconsider the link between relationship lending and firms' growth, distinguishing firms by size and 'health'. The idea is that the beneficial effects of relationship lending on information asymmetries can be compensated by other negative capture, risk and externality effects which make relational banks reluctant to support long-term growth projects of client firms, and that the strength of these compensating effects varies with firm size and health status. We explore the influence of long-lasting bank relationships on employment and asset growth of a large sample of Italian firms. The main finding is that relationship lending hampers the efforts of small firms to increase their size, while it mitigates the negative growth of troubled, medium-large enterprises.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3106en
dc.subject.jelG21en
dc.subject.jelG34en
dc.subject.ddc330en
dc.subject.keywordrelationship lendingen
dc.subject.keywordcapture effectsen
dc.subject.keywordfirms' growthen
dc.subject.stwUnternehmenswachstumen
dc.subject.stwKlein- und Mittelunternehmenen
dc.subject.stwKreditgeschäften
dc.subject.stwHausbanken
dc.subject.stwLieferanten-Kunden-Beziehungen
dc.subject.stwUnternehmensentwicklungen
dc.subject.stwItalienen
dc.titleLong-lasting bank relationships and growth of firms-
dc.typeWorking Paperen
dc.identifier.ppn630871213en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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