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Relationship Lending and Lines of Credit in Small Firm Finance
This paper examines the role of relationship lending in small firm finance. We examine price and nonprice terms of bank lines of credit (L/C) extended to small firms. Our focus on bank L/Cs allows us
The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle
We examine the economics of financing small business in private equity and debt markets. Firms are viewed through a financial growth cycle paradigm in which different capital structures are optimal
Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions?
Over the past several years, substantial research effort has gone into measuring the efficiency of financial institutions. Many studies have found that inefficiencies are quite huge, on the order of
The Profit-Structure Relationship in Banking--Tests of Market-Power and Efficient-Structure Hypotheses
This paper enters the debate between market-power and efficient-structure explanations of the profit-structure relationship in banking by including direct measures of X-efficiency and scale
The Relationship between Capital and Earnings in Banking.
Conventional wisdom in banking suggests a higher capital-asset ratio (CAR) is associated with a lower after-tax return on equity (ROE). Despite the arguments in favor of this hypothesis, data on U.S.
Problem Loans and Cost Efficiency in Commercial Banks
This paper addresses a little examined intersection between the problem loan literature and the bank efficiency literature. We employ Granger-causality techniques to test four hypotheses regarding
Efficiency of Financial Institutions: International Survey and Directions for Future Research
This paper surveys 130 studies that apply frontier efficiency analysis to financial institutions in 21 countries. The primary goals are to summarize and critically review empirical estimates of
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