Advanced search

The concentration of creditors: evidence from small businesses

Download
[thumbnail of L Han - Concentration of Creditors Evidence from Small Businesses.pdf]
Text - Published Version
· Restricted to Repository staff only
· The Copyright of this document has not been checked yet. This may affect its availability.
Restricted to Repository staff only
Advice

Please see our End User Agreement.

It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing.

Tools
Add to AnyAdd to TwitterAdd to FacebookAdd to LinkedinAdd to PinterestAdd to Email
Lists

Han, L. orcid id iconORCID: https://orcid.org/0000-0002-2778-3338, Storey, D. J. and Fraser, S. (2008) The concentration of creditors: evidence from small businesses. Applied Financial Economics. doi: 10.1080/09603100701720476

Abstract/Summary

This article examines the determinants of concentration of creditors. The empirical evidence drawn from this article supports the proposition of Bolton and Scharfstein (1996) that for negotiation reasons, high-quality borrowers tend to borrow from multiple sources and is contrary to the theoretical prediction of Bris and Welch (2005). This finding implies the existence of hold-up problems in financing small businesses where information conveyance is difficult between lenders. It is further supported by the evidence that dispersed bank relationships are associated with relationships of a longer history and a closer physical distance to lenders.

Altmetric Badge

Item Type Article
URI https://reading-clone.eprints-hosting.org/id/eprint/45485
Identification Number/DOI 10.1080/09603100701720476
Refereed Yes
Divisions Henley Business School > Business Informatics, Systems and Accounting
Publisher Routledge
Download/View statistics View download statistics for this item
Deposit Details

University Staff: Request a correction | Centaur Editors: Update this record

Search Google Scholar