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Main Bank Power, Switching Costs, and Firm Performance: Theory and Evidence from Ukraine
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics.
National University of Ostroh Academy, Ukraine.
Durham University.
2012 (English)In: Emerging markets finance & trade, ISSN 1540-496X, E-ISSN 1558-0938, Vol. 48, no 2, 76-93 p.Article in journal (Refereed) Published
Abstract [en]

We examine firms’ motivation to change their main bank and how this switch affects loans, interest payments, and firm performance. Applying treatment effect analysis to unique firm-bank matched Ukrainian data, we find that larger and more highly leveraged companies are more likely to switch their main bank. Importantly, firms tend to switch to a new main bank that holds a higher share of equity in the firm and thus has stronger power. The results also suggest that after switching, firms obtain additional access to bank loans but, on average, have lower profits due to bigger interest payments.

Place, publisher, year, edition, pages
2012. Vol. 48, no 2, 76-93 p.
Keyword [en]
financial constraints, switching, main bank power, firm performance, Ukraine
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-15390DOI: 10.2753/REE1540-496X480205Local ID: IHHEFSISOAI: oai:DiVA.org:hj-15390DiVA: diva2:423339
Available from: 2011-06-15 Created: 2011-06-15 Last updated: 2015-11-17Bibliographically approved

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