The effects of bank market power in short-term and long-term firm credit availability and investment

• Santiago Carbó-Valverde ^[1] ; José Manuel Mansilla-Fernández ^[2] ; Francisco Rodríguez-Fernández ^[3]
  1. [1] Bangor University

     Bangor University

     Bangor, Reino Unido

     
  2. [2] University of Bologna

     University of Bologna

     Bolonia, Italia

     
  3. [3] Universidad de Granada

     Universidad de Granada

     Granada, España

     

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• Localización: Revista española de financiación y contabilidad, ISSN 0210-2412, Vol. 46, Nº 1, 2017, págs. 1-27
• Idioma: inglés
• Títulos paralelos:
  • Los efectos del poder de mercado bancario sobre el crédito y la inversión empresarial a corto y largo plazo
• Texto completo no disponible (Saber más ...)
• Dialnet Métricas: 3 Citas
• Resumen
  • español

    Este artículo investiga los efectos del poder de mercado bancario a corto y largo plazo sobre la disponibilidad de crédito para las empresas, y sobre la inversión corporativa. Nuestros resultados sugieren que un incremento del poder de mercado bancario reduce la disponibilidad de crédito y la inversión de las empresas a corto plazo, pero a largo plazo la inversión empresarial se recupera. Se descubre que la importancia económica de estos resultados es mayor para las pequeñas y medianas empresas que las (otras) grandes empresas.

  • English

    This article investigates the short-term and long-term effects of bank market power on the availability of credit for companies, and on firm investment. Our results suggest that an increase in bank market power reduces firms’ credit availability and investment in the short-term, but firm investment recovers in the long-term. The economic significance of these relationships is found to be larger for SMEs than for other (larger) firms.

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