The effects of a megabank merger on firm-Bank relationships and loan availability

IF 2.6 3区 经济学 Q1 ECONOMICS
Taisuke Uchino , Iichiro Uesugi
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引用次数: 5

Abstract

We examine the effects of the largest-ever bank merger in the world at the time on unlisted firms through their firm-bank relationships to find the following: (1) Firms that transacted with both of the merged banks prior to the merger saw their borrowing costs increase by 13 bps relative to those that transacted with only one of them. (2) Firms that transacted with only one of the two merged banks saw their borrowing costs increase by a margin of 15 bps and a decrease in the amount of loans relative to firms that transacted with neither. The deterioration in borrowing conditions is more pronounced for smaller firms. (3) Despite the deterioration in firms’ borrowing conditions, there is no evidence of a persistent decline in borrower firms’ investment or sales. (4) There is no significant difference in the extent that borrowing costs increased and loan amounts decreased between firms that transacted with the acquiring bank and those that transacted with the acquired bank.

大型银行合并对公司-银行关系和贷款可得性的影响
我们研究了当时世界上最大的银行合并对非上市公司的影响,通过他们的公司-银行关系,发现以下情况:(1)在合并之前与合并银行进行交易的公司,其借贷成本相对于仅与其中一家进行交易的公司增加了13个基点。(2)只与两家合并银行中的一家进行交易的公司,其借贷成本比不与两家合并银行进行交易的公司增加了15个基点,贷款金额也减少了。对于小公司来说,借款条件的恶化更为明显。(3)尽管企业借款条件恶化,但没有证据表明借款人企业的投资或销售持续下降。(4)与收购银行进行交易的企业与与被收购银行进行交易的企业在借款成本增加和贷款金额减少的程度上没有显著差异。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
5.10
自引率
6.90%
发文量
36
期刊介绍: The Journal of the Japanese and International Economies publishes original reports of research devoted to academic analyses of the Japanese economy and its interdependence on other national economies. The Journal also features articles that present related theoretical, empirical, and comparative analyses with their policy implications. Book reviews are also published.
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