Using euro area firm-level data since the recent financial crisis, we test whether bank lending constrained small- and medium-sized enterprises (SMEs) are more likely to use or apply for alternative external finance including trade credit, informal lending, loans from other companies, market...

Seller concentration and its interactions on the performance of markets has occupied industrial organisation and competition economists for decades. While there has been much research on concentration in manufacturing markets, few studies have considered concentration in the services sector,...