Does Market Size Structure Affect Competition? The Case of Small Business Lending
Does Market Size Structure Affect Competition? The Case of Small Business Lending
复制标题
市场规模结构会影响竞争吗？
DOI：
10.2139/ssrn.286912
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发表时间：
2005
期刊：
影响因子：
--
通讯作者：
Gregory F. Udell
中科院分区：
文献类型：
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作者：
Allen N. Berger;Richard J. Rosen;Gregory F. Udell
市场规模结构是指当地市场参与者不同规模类别的股份分布，其中规模包括当地市场内外的资产。我们应用这一新的市场结构的措施，在美国银行业的两个实证分析，以解决有关银行业整合的影响的关注。我们的数量分析的可能性，小企业从大型与小型银行和我们的小企业贷款价格分析，包括市场规模结构，以及传统的措施产生非常不同的结果，从大多数文献的银行规模和小企业贷款。我们的研究结果并不表明大型银行在小企业贷款方面有明显的净优势或劣势，特别是在向信息不透明的小企业贷款方面。我们认为，先前的研究，排除市场规模结构可能是误导，并提供了一些可能的解释，为什么我们的结果不同。
Market size structure refers to the distribution of shares of different size classes of local market participants, where the sizes are inclusive of assets both within and outside the local market. We apply this new measure of market structure in two empirical analyses of the U.S. banking industry to address concerns regarding the effects of the consolidation in banking. Our quantity analysis of the likelihood that small businesses borrow from large versus small banks and our small business loan price analysis that includes market size structure as well as conventional measures yield very different findings from most of the literature on bank size and small business lending. Our results do not suggest a significant net advantage or disadvantage for large banks in small business lending overall, or in lending to informationally opaque small businesses in particular. We argue that the prior research that excluded market size structure may be misleading and offer some likely explanations of why our results differ.