Banking relationships : evidence from Portuguese SMEs
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/34798 |
Resumo: | Firstly, the purpose of this master thesis is to investigate which determinants might influence the Portuguese small and medium enterprise’s (SMEs) decision to have multiple banking relationships, instead of a single one. Secondly, verify if these determinants will produce the same effect in a situation, where the firms have already multiple banks, but pretend to increase even more their number of banking relationships. Despite existing already multiple studies, that establish which factors might affect the number of banking relationships, few of them separate these two different situations in which a firm can be ex-ante. Considering a sample of 8714 firms, it was concluded that the interbank competition and the level of risk of the lender and the borrower affect the firm´s source of financing decisions. On the other hand, the “Hold- Up Problem” does not show any signals of affecting firm´s source of financing decisions. Furthermore, the impact of these determinants shows to be the same, independently, if the firm has one or multiple banking relationships, ex-ante. |
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Banking relationships : evidence from Portuguese SMEsBanking relationshipsSingleMultiple relationshipsBank competitionRisk“Hold-up” ProblemDomínio/Área Científica::Ciências Sociais::Economia e GestãoFirstly, the purpose of this master thesis is to investigate which determinants might influence the Portuguese small and medium enterprise’s (SMEs) decision to have multiple banking relationships, instead of a single one. Secondly, verify if these determinants will produce the same effect in a situation, where the firms have already multiple banks, but pretend to increase even more their number of banking relationships. Despite existing already multiple studies, that establish which factors might affect the number of banking relationships, few of them separate these two different situations in which a firm can be ex-ante. Considering a sample of 8714 firms, it was concluded that the interbank competition and the level of risk of the lender and the borrower affect the firm´s source of financing decisions. On the other hand, the “Hold- Up Problem” does not show any signals of affecting firm´s source of financing decisions. Furthermore, the impact of these determinants shows to be the same, independently, if the firm has one or multiple banking relationships, ex-ante.Esta tese de mestrado tenta, primeiramente, investigar o impacto de certos fatores na decisão das pequenas e médias empresas (PMEs) Portuguesas optarem por possuir relações bancárias múltiplas em vez de uma só. Segundo, verificar se esses mesmos fatores continuam a produzir o mesmo efeito numa situação, em que as empresas já possuem múltiplas relações bancárias, mas pretendem aumentar ainda mais o seu número. Apesar de já existirem múltiplos estudos que estabelecem, quais os fatores que afetam o número de relações bancarias de uma empresa, poucos separam estas duas situações diferentes em que uma empresa se pode encontrar, a priori da tomada de decisão. Utilizando uma amostra de 8714 empresas, verificou-se que a competição interbancária e o nível de risco (quer do credor quer do devedor) afetam na tomada de decisão da fonte de financiamento das empresas. Por outro lado, o problema de “Hold-up” não mostra sinais de afetar essa tomada de decisão. Para além disso, o impacto desses fatores mostrou ser o mesmo, independentemente, do tipo de relação bancária (exclusiva ou múltipla), que a empresa possuía, a priori.Cunha, Manuel Ricardo Fontes daVeritati - Repositório Institucional da Universidade Católica PortuguesaCarneiro, Jorge Fernando Giesteira2021-09-13T16:32:49Z2021-07-062021-032021-07-06T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/34798TID:202749436enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-12T17:40:19Zoai:repositorio.ucp.pt:10400.14/34798Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:28:13.051667Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Banking relationships : evidence from Portuguese SMEs |
title |
Banking relationships : evidence from Portuguese SMEs |
spellingShingle |
Banking relationships : evidence from Portuguese SMEs Carneiro, Jorge Fernando Giesteira Banking relationships Single Multiple relationships Bank competition Risk “Hold-up” Problem Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Banking relationships : evidence from Portuguese SMEs |
title_full |
Banking relationships : evidence from Portuguese SMEs |
title_fullStr |
Banking relationships : evidence from Portuguese SMEs |
title_full_unstemmed |
Banking relationships : evidence from Portuguese SMEs |
title_sort |
Banking relationships : evidence from Portuguese SMEs |
author |
Carneiro, Jorge Fernando Giesteira |
author_facet |
Carneiro, Jorge Fernando Giesteira |
author_role |
author |
dc.contributor.none.fl_str_mv |
Cunha, Manuel Ricardo Fontes da Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Carneiro, Jorge Fernando Giesteira |
dc.subject.por.fl_str_mv |
Banking relationships Single Multiple relationships Bank competition Risk “Hold-up” Problem Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Banking relationships Single Multiple relationships Bank competition Risk “Hold-up” Problem Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Firstly, the purpose of this master thesis is to investigate which determinants might influence the Portuguese small and medium enterprise’s (SMEs) decision to have multiple banking relationships, instead of a single one. Secondly, verify if these determinants will produce the same effect in a situation, where the firms have already multiple banks, but pretend to increase even more their number of banking relationships. Despite existing already multiple studies, that establish which factors might affect the number of banking relationships, few of them separate these two different situations in which a firm can be ex-ante. Considering a sample of 8714 firms, it was concluded that the interbank competition and the level of risk of the lender and the borrower affect the firm´s source of financing decisions. On the other hand, the “Hold- Up Problem” does not show any signals of affecting firm´s source of financing decisions. Furthermore, the impact of these determinants shows to be the same, independently, if the firm has one or multiple banking relationships, ex-ante. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-09-13T16:32:49Z 2021-07-06 2021-03 2021-07-06T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/34798 TID:202749436 |
url |
http://hdl.handle.net/10400.14/34798 |
identifier_str_mv |
TID:202749436 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
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info:eu-repo/semantics/openAccess |
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openAccess |
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application/pdf |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799132000485900288 |