Ratti, Ronald A.; Lee, Sunglyong; Seol, Youn - In: Journal of Banking & Finance 32 (2008) 12, pp. 2684-2694
This study examines the effect of bank concentration on financing constraints of non-financial firms in 14 European countries between 1992 and 2005. Using firm-level data we analyze financial constraints with the Euler equation derived from the dynamic investment model. We find that with a...