bank to restructure the borrower's firm in the case of distress, thepossibility to appropriate private benefits from …

value and aggregate economic activity. We investigate whether and how bank governance, especially private vs. non …-private bank ownership, affects financial constraints of small and medium-sized enterprises (SMEs). We focus on SMEs because they … are more opaque, bank-dependent and riskier than large firms. Given the significant differences between private and non …

Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms … assertions about the considerable power of German banks and the advantages of a bank relation, empirical support is mixed. With a … unique dataset and a focus on the fragility/sturdiness of inferences, this paper evaluates German bank influence in terms of …

unused bank credit lines) take trade credit for a liquidation motive; (2) the reliance on trade credit does not depend on the …