The empirical analysis of local bank consolidation on corporate borrowers.

我们考察了当地银行合并对企业借款人的影响。为了直接发现合并的影响，我们关注那些只与合并银行进行交易的公司。结果表明，银行合并后，贷款利率下降，对这些公司的贷款增加。另一方面，我们没有发现企业绩效和就业的显著变化。

We examine how the local bank consolidation affects corporate borrowers. To find the effect of consolidation directly, we focus on firms that transacted with only the merger banks. The results show that loan rates declines, and that loans to these firms increase after the bank merger. On the other hand, we do not find the changes of firm performance and employment significantly.