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| Tekijä: | Giannetti, M. Ongena, S. |
| Otsikko: | Financial integration and firm performance: evidence from foreign bank entry in emerging markets |
| Lehti: | Review of finance
2009 : VOL 13:2 p.181-223 |
| Asiasana: | emerging markets eastern europe financing debt small business capital |
| Vapaa asiasana: | foreign bank entry |
| Kieli: | eng |
| Tiivistelmä: | This article is about growth effects of financial integration and its impact on small and young firms. The study bases on observations of 60,000 firms a year - both listed and unlisted in Eastern Europe economies and aims to assess the differential impact of foreign bank lending on firm growth and financing. It is found that foreign lending stimulates growth in firm sales, assets, and use of financial debt even though the effect is dampened for small firms. More strikingly, young firms benefit most from foreign bank presence, while businesses connected to domestic banks or to the government suffer. |
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