Banking stability and borrower discouragement

Autor:	Ana Mol-Gómez-Vázquez, Ginés Hernández-Cánovas, Johanna Koëter-Kant
Přispěvatelé:	Universidad de Alicante. Departamento de Economía Financiera y Contabilidad, Finance
Jazyk:	angličtina
Rok vydání:	2022
Předmět:	Economics and Econometrics Entrepreneurship media_common.quotation_subject Financial constraints Z-score Financial system Promotion (rank) Information asymmetry 0502 economics and business Financial integration 050207 economics Two-level model media_common 05 social sciences Multilevel model SDG 10 - Reduced Inequalities General Business Management and Accounting Information asymmetries Harm Economía Financiera y Contabilidad Loan Access to finance Business 050203 business & management
Zdroj:	Mol-Gómez-Vázquez, A, Hernández-Cánovas, G & Koëter-Kant, J 2022, ' Banking stability and borrower discouragement : a multilevel analysis for SMEs in the EU-28 ', Small Business Economics, vol. 58, no. 3, pp. 1579-1593 . https://doi.org/10.1007/s11187-021-00457-w Small Business Economics, 58(3), 1579-1593. Springer Netherlands
ISSN:	0921-898X
DOI:	10.1007/s11187-021-00457-w
Popis:	The promotion of a more stable European banking system has become a priority which, not doubt, will bring important benefits to firms. However, bank stability comes with stronger regulations that could harm the access to finance of small and medium-sized enterprises (SMEs), which are highly dependent on bank financing. We provide new evidence on the association between the stability of a country’s banking system and SMEs access to finance through the study of borrower discouragement. We analyze 20,207 observations gathered among 16,382 firms operating in the EU-28 during the period 2011–2018. Applying multilevel methodology, our results show that SMEs operating in countries with more stable banking systems are less likely to be discouraged from applying for a loan. Working to achieve a more stable banking system does not seem to harm the access to finance of SMEs. The authors acknowledge financial support from Agencia Estatal de Investigación (https://doi.org/10.13039/501100011033), research project PID2019-106314GB-I00/AEI/10.13039/501100011033. We also acknowledge financial support from Fundación UCEIF and Santander Financial Institute (SANFI).
Databáze:	OpenAIRE
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