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 …

relationshipʺ bank and arm’s-lengthʺ banks. We find that firm decisions are asymmetrically influenced by the degree of heterogeneity …

This paper uses matched bank-firm-level data and the 2014 depreciation of the euro to show that exchange rate … depreciations lead to increased bank loan supply of large banks with significant net foreign asset exposure. This increase in …