Small and medium-sized firms typically obtain capital via bank financing. They often rely on a mixture of relationship …'s quality and on the relationship bank's information precision. Generally, heterogeneous multiple banking leads to fewer … bank's fraction of total firm debt is not too large. …

'relationship' bank and 'arm's-length' banks. We find that firm decisions are asymmetrically influenced by the degree of …

enhances the incentives of banks to expand within Euroland. Yet, while the currency bias in bank portfolios will be eliminated …

consistent with this central implication of the private-information models and support the empirical importance of this theory. …

Small and medium-sized firms often obtain capital via a mixture of relationship and arm's-length bank lending. We show … that such heterogeneous multiple bank financing leads to a lower probability of ineefficient credit foreclosure than both … monopoly relationship lending and homogeneous multiple bank financing. Yet, in order to reduce hold-up and coordination …

We explore Lithuanian credit register data and two bank closures to provide a novel estimate of firms' bank …-switching costs and a novel identification of the hold-up problem. We show that when a distressed bank's closure forced firms to …' reputational concerns, a healthy bank's closure revealed no overcharging. To policy-makers, our results suggest potential benefits …

of firm's publicly observable credit quality. Under plausible assumptions about the cost of bank borrowing the model … times and bank debt in adverse times. The paper suggests that better publicly available information about firm quality and …

Banken bei der Bereitstellung enger Finanzierungsbeziehungen übernehmen. Mithilfe der Governance-Struktur-Theorie der … relationships compared to banks. Using the governance structure theory of transaction cost economics, we show that relationship …