The Effect of Credit Market Competition on Lending Relationships
This paper provides a simple framework showing that the extent of competition in credit markets is important in determining the value of lending relationships. Creditors are more likely to finance credit-constrained firms when credit markets are concentrated because it is easier for these creditors...
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| Veröffentlicht in: | The Quarterly journal of economics 1995-05, Vol.110 (2), p.407-443 |
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| container_end_page | 443 |
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| container_issue | 2 |
| container_start_page | 407 |
| container_title | The Quarterly journal of economics |
| container_volume | 110 |
| creator | Petersen, Mitchell A. Rajan, Raghuram G. |
| description | This paper provides a simple framework showing that the extent of competition in credit markets is important in determining the value of lending relationships. Creditors are more likely to finance credit-constrained firms when credit markets are concentrated because it is easier for these creditors to internalize the benefits of assisting the firms. The paper offers evidence from small business data in support of this hypothesis. |
| doi_str_mv | 10.2307/2118445 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0033-5533 |
| ispartof | The Quarterly journal of economics, 1995-05, Vol.110 (2), p.407-443 |
| issn | 0033-5533 1531-4650 |
| language | eng |
| recordid | cdi_proquest_journals_210979943 |
| source | Periodicals Index Online; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing |
| subjects | Bank loans Bank markets Business structures Competition Credit Economic theory Entrepreneurs Financial institutions Financial investments Interest rates Loan rates Market competition Trade credit |
| title | The Effect of Credit Market Competition on Lending Relationships |
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