Concentration, Hold-Up and Information Revelation in Bank Lending: Evidence From Chilean Firms
In this paper we empirically study bank-client relationships using a sample of Chilean manufacturing firms. We examine whether concentration and the duration of bank-firm relationships affect the volume of bank lending. Our results indicate that lower concentration, measured by the number of banks a firm borrows from, is associated with a large and positive effect on borrowing. The length of borrower-lender relationships has a positive -although not always statistically significant- effect on the amount borrowed.
Year of publication: |
2003-10
|
---|---|
Authors: | García, Álvaro ; Repetto, Andrea ; Rodríguez, Sergio ; Valdés, Rodrigo |
Institutions: | Banco Central de Chile |
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