| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7685 |
| 来源ID | Working Paper 7685 |
| Does Distance Still Matter? The Information Revolution in Small Business Lending | |
| Mitchell A. Petersen; Raghuram G. Rajan | |
| 发表日期 | 2000-05-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | The distance between small firms and their lenders in the United States is increasing. Not only are firms choosing more distant lenders, they are also communicating with them in more impersonal ways. After documenting these systematic changes, we demonstrate that they do not stem from small firms locating differently, from simple consolidation in the banking industry, or from biases in the sample. Instead, they seem correlated with improvements in bank productivity. We conjecture that greater, and more timely, availability of borrower credit records, as well as the greater ease of processing these may explain the increased lending at a distance. Consistent with such an explanation, distant firms no longer have to be observably the highest quality credits, suggesting that a wider cross-section of firms can now obtain funding from a particular lender. These findings, we believe, are direct evidence that there has been substantial development of the financial sector in the United States, even in areas such as small business lending that have not been directly influenced by the growth in public markets. From a policy perspective, that small firms now obtain wider access to financing suggests the consolidation of banking services may not raise as strong anti-trust concerns as in the past. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w7685 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565246 |
| 推荐引用方式 GB/T 7714 | Mitchell A. Petersen,Raghuram G. Rajan. Does Distance Still Matter? The Information Revolution in Small Business Lending. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7685.pdf（186KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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