De-branching, too-much-branching, and cost of debt of SMEs in Slovakia

De-branching, too-much-branching, and cost of debt of SMEs in Slovakia

We investigate nonlinear effects of bank branch saturation on SMEs' cost of debt at regional level in Slovakia over the period 2013–2019. We adopt the two‐step approach by first constructing model of bank branch localization, and then analyzing effects of positive and negative deviations from t...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:European financial management : the journal of the European Financial Management Association 2023-11, Vol.29 (5), p.1576-1619
1. Verfasser: Rafaj, Oliver
Format: Artikel
Sprache:eng
Schlagworte:
Debt
Equilibrium
Localization
Saturation
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
container_end_page 1619
container_issue 5
container_start_page 1576
container_title European financial management : the journal of the European Financial Management Association
container_volume 29
creator Rafaj, Oliver
description We investigate nonlinear effects of bank branch saturation on SMEs' cost of debt at regional level in Slovakia over the period 2013–2019. We adopt the two‐step approach by first constructing model of bank branch localization, and then analyzing effects of positive and negative deviations from the equilibrium level. We observe negative effect of debranching, but report no effect of positive increase in deviations from equilibrium level on SMEs' cost of debt. The most affected firms are middle‐sized, domestically owned, operating in low‐tech industries, and with better creditworthiness. Bank market characteristics also tend to matter for pricing of firm's debt.
doi_str_mv 10.1111/eufm.12402
format Article
fullrecord <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_journals_2884715620</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2884715620</sourcerecordid><originalsourceid>FETCH-LOGICAL-c349t-6eb36476b0b5a05d68e282c615345ee1cc0b760eb9d032456a233ee9353777be3</originalsourceid><addsrcrecordid>eNpNkE1Lw0AQhhdRsFYv_oKANzF19ntzlNqqUPFQBW9hdzOxqW22ZpOC_960FXQu7zA8vAMPIZcURrSfW-zK9YgyAeyIDKhQJgWu3o_7nUuRap2ZU3IW4xIAhJRmQKb3mLrG1n5R1R83SRtCuu784v_N1kXiQ2yTUCYFun3Onycxqepkvgpb-1nZc3JS2lXEi98ckrfp5HX8mM5eHp7Gd7PUc5G1qULHldDKgZMWZKEMMsO8opILiUi9B6cVoMsK4ExIZRnniBmXXGvtkA_J1aF304SvDmObL0PX1P3LnBkjNJWKQU9dHyjfhBgbLPNNU61t851TyHee8p2nfO-ph5MDjD7UVfxDjaaUAfR9P53OYw0</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2884715620</pqid></control><display><type>article</type><title>De-branching, too-much-branching, and cost of debt of SMEs in Slovakia</title><source>Wiley Online Library Journals Frontfile Complete</source><source>Business Source Complete</source><creator>Rafaj, Oliver</creator><creatorcontrib>Rafaj, Oliver</creatorcontrib><description>We investigate nonlinear effects of bank branch saturation on SMEs' cost of debt at regional level in Slovakia over the period 2013–2019. We adopt the two‐step approach by first constructing model of bank branch localization, and then analyzing effects of positive and negative deviations from the equilibrium level. We observe negative effect of debranching, but report no effect of positive increase in deviations from equilibrium level on SMEs' cost of debt. The most affected firms are middle‐sized, domestically owned, operating in low‐tech industries, and with better creditworthiness. Bank market characteristics also tend to matter for pricing of firm's debt.</description><identifier>ISSN: 1354-7798</identifier><identifier>EISSN: 1468-036X</identifier><identifier>DOI: 10.1111/eufm.12402</identifier><language>eng</language><publisher>Oxford: Blackwell Publishing Ltd</publisher><subject>Debt ; Equilibrium ; Localization ; Saturation</subject><ispartof>European financial management : the journal of the European Financial Management Association, 2023-11, Vol.29 (5), p.1576-1619</ispartof><rights>2023 John Wiley &amp; Sons Ltd.</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c349t-6eb36476b0b5a05d68e282c615345ee1cc0b760eb9d032456a233ee9353777be3</citedby><cites>FETCH-LOGICAL-c349t-6eb36476b0b5a05d68e282c615345ee1cc0b760eb9d032456a233ee9353777be3</cites><orcidid>0000-0002-7663-622X ; 0000-0002-0267-0943</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,776,780,27903,27904</link.rule.ids></links><search><creatorcontrib>Rafaj, Oliver</creatorcontrib><title>De-branching, too-much-branching, and cost of debt of SMEs in Slovakia</title><title>European financial management : the journal of the European Financial Management Association</title><description>We investigate nonlinear effects of bank branch saturation on SMEs' cost of debt at regional level in Slovakia over the period 2013–2019. We adopt the two‐step approach by first constructing model of bank branch localization, and then analyzing effects of positive and negative deviations from the equilibrium level. We observe negative effect of debranching, but report no effect of positive increase in deviations from equilibrium level on SMEs' cost of debt. The most affected firms are middle‐sized, domestically owned, operating in low‐tech industries, and with better creditworthiness. Bank market characteristics also tend to matter for pricing of firm's debt.</description><subject>Debt</subject><subject>Equilibrium</subject><subject>Localization</subject><subject>Saturation</subject><issn>1354-7798</issn><issn>1468-036X</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2023</creationdate><recordtype>article</recordtype><recordid>eNpNkE1Lw0AQhhdRsFYv_oKANzF19ntzlNqqUPFQBW9hdzOxqW22ZpOC_960FXQu7zA8vAMPIZcURrSfW-zK9YgyAeyIDKhQJgWu3o_7nUuRap2ZU3IW4xIAhJRmQKb3mLrG1n5R1R83SRtCuu784v_N1kXiQ2yTUCYFun3Onycxqepkvgpb-1nZc3JS2lXEi98ckrfp5HX8mM5eHp7Gd7PUc5G1qULHldDKgZMWZKEMMsO8opILiUi9B6cVoMsK4ExIZRnniBmXXGvtkA_J1aF304SvDmObL0PX1P3LnBkjNJWKQU9dHyjfhBgbLPNNU61t851TyHee8p2nfO-ph5MDjD7UVfxDjaaUAfR9P53OYw0</recordid><startdate>20231101</startdate><enddate>20231101</enddate><creator>Rafaj, Oliver</creator><general>Blackwell Publishing Ltd</general><scope>OQ6</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope><orcidid>https://orcid.org/0000-0002-7663-622X</orcidid><orcidid>https://orcid.org/0000-0002-0267-0943</orcidid></search><sort><creationdate>20231101</creationdate><title>De-branching, too-much-branching, and cost of debt of SMEs in Slovakia</title><author>Rafaj, Oliver</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c349t-6eb36476b0b5a05d68e282c615345ee1cc0b760eb9d032456a233ee9353777be3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2023</creationdate><topic>Debt</topic><topic>Equilibrium</topic><topic>Localization</topic><topic>Saturation</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Rafaj, Oliver</creatorcontrib><collection>ECONIS</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>European financial management : the journal of the European Financial Management Association</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Rafaj, Oliver</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>De-branching, too-much-branching, and cost of debt of SMEs in Slovakia</atitle><jtitle>European financial management : the journal of the European Financial Management Association</jtitle><date>2023-11-01</date><risdate>2023</risdate><volume>29</volume><issue>5</issue><spage>1576</spage><epage>1619</epage><pages>1576-1619</pages><issn>1354-7798</issn><eissn>1468-036X</eissn><abstract>We investigate nonlinear effects of bank branch saturation on SMEs' cost of debt at regional level in Slovakia over the period 2013–2019. We adopt the two‐step approach by first constructing model of bank branch localization, and then analyzing effects of positive and negative deviations from the equilibrium level. We observe negative effect of debranching, but report no effect of positive increase in deviations from equilibrium level on SMEs' cost of debt. The most affected firms are middle‐sized, domestically owned, operating in low‐tech industries, and with better creditworthiness. Bank market characteristics also tend to matter for pricing of firm's debt.</abstract><cop>Oxford</cop><pub>Blackwell Publishing Ltd</pub><doi>10.1111/eufm.12402</doi><tpages>44</tpages><orcidid>https://orcid.org/0000-0002-7663-622X</orcidid><orcidid>https://orcid.org/0000-0002-0267-0943</orcidid></addata></record>
fulltext fulltext
identifier ISSN: 1354-7798
ispartof European financial management : the journal of the European Financial Management Association, 2023-11, Vol.29 (5), p.1576-1619
issn 1354-7798
1468-036X
language eng
recordid cdi_proquest_journals_2884715620
source Wiley Online Library Journals Frontfile Complete; Business Source Complete
subjects Debt
Equilibrium
Localization
Saturation
title De-branching, too-much-branching, and cost of debt of SMEs in Slovakia
url https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-25T11%3A13%3A33IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=De-branching,%20too-much-branching,%20and%20cost%20of%20debt%20of%20SMEs%20in%20Slovakia&rft.jtitle=European%20financial%20management%20:%20the%20journal%20of%20the%20European%20Financial%20Management%20Association&rft.au=Rafaj,%20Oliver&rft.date=2023-11-01&rft.volume=29&rft.issue=5&rft.spage=1576&rft.epage=1619&rft.pages=1576-1619&rft.issn=1354-7798&rft.eissn=1468-036X&rft_id=info:doi/10.1111/eufm.12402&rft_dat=%3Cproquest_cross%3E2884715620%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=2884715620&rft_id=info:pmid/&rfr_iscdi=true