-relationship borrowers who "switch" to another bank following a merger will be less harmed than those whose relationship is "dropped" and not … to be dropped. We track post-merger performance and show that many dropped target-bank borrowers are harmed by the merger …

businesses compared to prior to the merger or compared to the contemporaneous lending by non-merging banks. We investigate the … merger related effects on small business lending in Germany from a bank-level perspective. Furthermore, we estimate small …