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

Research output: Contribution to journal › Article › peer-review

Standard Standard

The effects of bank market power in short-term and long-term firm credit availability and investment. / Carbo-Valverde, Santiago; Mansilla-Fernández, José Manuel; Rodríguez-Fernández, Francisco.
In: Spanish Journal of Finance and Accounting, Vol. 46, 21.11.2016.

Research output: Contribution to journal › Article › peer-review

HarvardHarvard

Carbo-Valverde, S, Mansilla-Fernández, JM & Rodríguez-Fernández, F 2016, 'The effects of bank market power in short-term and long-term firm credit availability and investment', Spanish Journal of Finance and Accounting, vol. 46. https://doi.org/10.1080/02102412.2016.1242239

APA

Carbo-Valverde, S., Mansilla-Fernández, J. M., & Rodríguez-Fernández, F. (2016). The effects of bank market power in short-term and long-term firm credit availability and investment. Spanish Journal of Finance and Accounting, 46. https://doi.org/10.1080/02102412.2016.1242239

CBE

Carbo-Valverde S, Mansilla-Fernández JM, Rodríguez-Fernández F. 2016. The effects of bank market power in short-term and long-term firm credit availability and investment. Spanish Journal of Finance and Accounting. 46. https://doi.org/10.1080/02102412.2016.1242239

MLA

Carbo-Valverde, Santiago, José Manuel Mansilla-Fernández and Francisco Rodríguez-Fernández. "The effects of bank market power in short-term and long-term firm credit availability and investment". Spanish Journal of Finance and Accounting. 2016. 46. https://doi.org/10.1080/02102412.2016.1242239

VancouverVancouver

Carbo-Valverde S, Mansilla-Fernández JM, Rodríguez-Fernández F. The effects of bank market power in short-term and long-term firm credit availability and investment. Spanish Journal of Finance and Accounting. 2016 Nov 21;46. doi: 10.1080/02102412.2016.1242239

Author

Carbo-Valverde, Santiago ; Mansilla-Fernández, José Manuel ; Rodríguez-Fernández, Francisco. / The effects of bank market power in short-term and long-term firm credit availability and investment. In: Spanish Journal of Finance and Accounting. 2016 ; Vol. 46.

RIS

TY - JOUR

T1 - The effects of bank market power in short-term and long-term firm credit availability and investment

AU - Carbo-Valverde, Santiago

AU - Mansilla-Fernández, José Manuel

AU - Rodríguez-Fernández, Francisco

N1 - Financial support from MICINN-FEDER ECO2015-67656-P, ECO2014-59584 and Junta de Andalucía P12.SEJ.2463

PY - 2016/11/21

Y1 - 2016/11/21

N2 - 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.

AB - 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.

KW - Bank Loans

KW - Bank Market Power

KW - Euler equation

KW - Firm investment rate

KW - Risk Premium

U2 - 10.1080/02102412.2016.1242239

DO - 10.1080/02102412.2016.1242239

M3 - Article

VL - 46

JO - Spanish Journal of Finance and Accounting

JF - Spanish Journal of Finance and Accounting

SN - 0210-2412

ER -