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"Lending by Example": Direct and Indirect Effects of Foreign Banks in Emerging Markets

Giannetti, Mariassunta; Ongena, Steven - C.E.P.R. Discussion Papers - 2008

Using a novel dataset that allows us to trace the primary bank relationships of a sample of mostly unlisted firms, we explore which borrowers are able to benefit from foreign bank presence in emerging markets. Our results suggest that the limits to financial integration are less tight than the...

Persistent link: https://www.econbiz.de/10005497713

The Impact of Competition on Bank Orientation and Specialization

Degryse, Hans; Ongena, Steven - C.E.P.R. Discussion Papers - 2004

How do banks react to increased competition? Recent banking theory offers conflicting predictions about the impact of … competition on bank orientation - i.e., the choice of relationship based versus transactional banking - and bank industry … specialization. We empirically investigate the impact of interbank competition on bank branch orientation and specialization. We …

Persistent link: https://www.econbiz.de/10005661597

Financial Integration and Entrepreneurial Activity: Evidence from Foreign Bank Entry in Emerging Markets

Giannetti, Mariassunta; Ongena, Steven - C.E.P.R. Discussion Papers - 2005

An extensive empirical literature has documented the positive growth effects of equity market liberalization. However, this line of research ignores the impact of financial integration on a category of firms crucial for economic development, i.e. the small entrepreneurial firms. This paper aims...

Persistent link: https://www.econbiz.de/10005666993

The Impact of Organizational Structure and Lending Technology on Banking Competition

Degryse, Hans; Laeven, Luc; Ongena, Steven - C.E.P.R. Discussion Papers - 2007

. We investigate theoretically and empirically how bank organization shapes banking competition. Our theoretical model … organizational structure and technology of rival banks in the vicinity influence local banking competition. …

Persistent link: https://www.econbiz.de/10005136523

Foreign Currency Borrowing by Small Firms

Brown, Martin; Ongena, Steven; Yesin, Pinar - C.E.P.R. Discussion Papers - 2009

We examine the firm- and country-level determinants of the currency denomination of small business loans. We first model the choice of loan currency in a framework which features a trade-off between lower cost of debt and the risk of firm-level distress costs, and also incorporates the impact of...

Persistent link: https://www.econbiz.de/10008496451

Market Structure and Market Performance in E-Commerce

Hackl, Franz; Kummer, Michael E; Winter-Ebmer, Rudolf; … - C.E.P.R. Discussion Papers - 2012

instrumenting is particularly important for estimating the effect of competition on the markup of the price leader. …

Persistent link: https://www.econbiz.de/10011083898

Innovation and Market Structure: An Empirical Evaluation of the 'Bounds Approach' in the Chemical Industry

Uribe, Marín; Luis, Pedro; Siotis, Georges - C.E.P.R. Discussion Papers - 2002

This Paper empirically tests the ‘bounds approach’ to industry structure proposed by Sutton ((1991), (1998)). To carry out this task, we focus on the chemical industry. Part of the novelty in this exercise is that we work on the finest possible level of disaggregation. Also, we identify...

Persistent link: https://www.econbiz.de/10005656233

Price Competition, Innovation and Profitability: Theory and UK Evidence

Symeonidis, George - C.E.P.R. Discussion Papers - 2001

This Paper examines the effect of price competition on innovation, market structure and profitability in R …&D-intensive industries. The theoretical predictions are tested using UK data on the evolution of competition, concentration, innovation …

Persistent link: https://www.econbiz.de/10005666839

Innovating Firms and Aggregate Innovation

Klette, Tor Jakob; Kortum, Samuel S - C.E.P.R. Discussion Papers - 2002

We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behaviour of individual heterogeneous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...

Persistent link: https://www.econbiz.de/10005788918

Firm Default and Aggregate Fluctuations

Jacobson, Tor; Kindell, Rikard; Lindé, Jesper; … - C.E.P.R. Discussion Papers - 2008

This paper studies the relation between macroeconomic fluctuations and corporate defaults while conditioning on industry affiliation and an extensive set of firm-specific factors. Using a multiperiod logit approach on a panel data set for all incorporated Swedish businesses over 1990-2002, we...

Persistent link: https://www.econbiz.de/10005504257