Relationship finance by banks and non-bank institutional investors: A review within the theory of the firm

In continental Europe, banks are more and more replaced by non-bank institutional investors in the financing and control of firms. This must not imply a shift to arm's length finance, if these institutional investors develop relationships with firms similar to the traditional longterm bank-firm relationship. The present paper differentiates between relationship banking and relationship investing within the theory of the firm and compares the financial and corporate control services provided by both arrangements.

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Year of publication:	2004
Authors:	Andreani, Ettore ; Neuberger, Doris
Publisher:	Rostock : Universität Rostock, Institut für Volkswirtschaftslehre
Subject:	relationship banking \| relationship investing \| banks \| institutional investors \| corporate governance \| theory of the firm

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Series:	Thünen-Series of Applied Economic Theory - Working Paper ; 46
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	61018556X [GVK] hdl:10419/39743 [Handle] RePEc:zbw:roswps:46 [RePEc]
Classification:	G20 - Financial Institutions and Services. General ; G30 - Corporate Finance and Governance. General ; L14 - Transactional Relationships; Contracts and Reputation; Networks ; L22 - Firm Organization and Market Structure: Markets vs. Hierarchies; Vertical Integration
Source:	EconStor

Persistent link: https://www.econbiz.de/10010319246