This study examines how consolidation activity in the credit union system may impact small business lending. Drawing on Canadian provincial-level data over the period 1992-2009, it provides systematic evidence which suggests that the size of credit unions has a statistically significant negative...

This study empirically evaluates the impact of consolidation activity in the credit union system on the rate of business formation. Drawing on Canadian provincial-level data over the period 1992-2009, it provides evidence which suggests that consolidation activity is unlikely to hurt business...

In this study, we use data from the Federal Reserve’s 1993, 1998 and 2003 Surveys of Small Business Finances to classify small businesses into four groups based upon their credit needs and to model the credit allocation process into a sequence of three steps. First, do firms need credit? We...

Financial frictions may represent a severe obstacle to firms' innovativeness. This paper shows the existence and quantifies the effects of financial barriers to the innovation propensity of Italian companies. Employing direct measures of financial constraints and a credit-score estimated ad hoc,...

In this study we try to explain the inclusion of banks in the WDCI list proposed by Bloomberg. This list collects a group of more than 100 banking institutions which, during the crisis, suffered losses. We explain the probability of being part of the list (to suffer severe or highly severe...