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BANKING CONCENTRATION AND FIRM GROWTH: THE ROLE OF SIZE, LOCATION AND FINANCIAL CRISIS
Author(s) -
Dimelis Sophia,
Giotopoulos Ioannis,
Louri Helen
Publication year - 2019
Publication title -
bulletin of economic research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 29
eISSN - 1467-8586
pISSN - 0307-3378
DOI - 10.1111/boer.12184
Subject(s) - financial crisis , vulnerability (computing) , monetary economics , economics , quantile regression , panel data , quantile , financial system , business , macroeconomics , econometrics , computer security , computer science
Using conditional quantile regressions for a panel of listed firms from euro‐area countries in the 2005–11 period, we explore the impact of banking concentration on firm growth between smaller and larger firms; core and periphery countries; in pre‐crisis and post‐crisis years. Our findings reveal that increasing banking concentration favours high‐growth larger‐sized firms located in periphery countries pre‐crisis. By contrast in post‐crisis years increasing banking concentration impacts negatively on low‐growth smaller firms irrespective of location, revealing their vulnerability.