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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

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

Corporate Venture Capital: The Upside of Failure and Competition for Talent

Chemla, Gilles; de Bettignies, Jean-Etienne - C.E.P.R. Discussion Papers - 2003

. Competition from venture capitalists increases corporate venturing activity, the salaries of potential entrepreneurs, and total …

Persistent link: https://www.econbiz.de/10005067369

"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

Downstream Competition, Foreclosure, and Vertical Integration

Chemla, Gilles - C.E.P.R. Discussion Papers - 2000

This paper analyses the impact of competition among downstream firms on an upstream firm's payoff and on its incentive … to vertically integrate when firms on both segments negotiate optimal contracts. We argue that tougher competition … firm is better off encouraging competition when the downstream firms have high bargaining power. We derive implications on …

Persistent link: https://www.econbiz.de/10005497922

A Century of Firm – Bank Relationships: Did Banking Sector Deregulation Spur Firms to Add Banks and Borrow More?

Braggion, Fabio; Ongena, Steven - C.E.P.R. Discussion Papers - 2013

competition in the banking sector during the 1970s spurred banks to supply credit through multilateral arrangements. Firms that …

Persistent link: https://www.econbiz.de/10011084071

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 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