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Authordc.contributor.authorÁlvarez Espinoza, Roberto 
Authordc.contributor.authorJara Bertín, Mauricio 
Cita de ítemdc.identifier.citationSerie Documentos de Trabajo, No. 426, pp. 1 - 34, Agosto, 2016es_ES
Abstractdc.description.abstractPrior literature argues that, given the existence of information asymmetries and agency costs, higher competition may increase financial constraints by reducing banks’ incentives to build lending relationships. Using a sample of listed firms for six Latin American countries, we analyze the relation between banking competition and financial constraints. We find evidence in line with prior research that banking competition increases financial constraints. This result is robust and heterogeneous. We include other country-specific variables and check the robustness of our findings; the main results hold. Our results show that the effect of competition differs across firms and industries. Specifically, consistent with the information hypothesis, the negative impact of competition is higher for small quoted firms and for lowassets tangibility industries. Also, as expected, we find evidence that firms are more affected by financial constraints during the last crisis. This negative effect is larger for firms in more competitive banking industries.es_ES
Publisherdc.publisherUniversidad de Chile. Facultad de Economía y Negocioses_ES
Type of licensedc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
Link to Licensedc.rights.uri*
Sourcedc.sourceSerie Documentos de Trabajoes_ES
Keywordsdc.subjectFinancial Constraintses_ES
Keywordsdc.subjectEmerging Marketses_ES
Keywordsdc.subjectLatin America, Bankinges_ES
Keywordsdc.subjectAsset Tangibilityes_ES
Títulodc.titleBanking Competition and Firm-Level Financial Constraints in Latin Americaes_ES
Document typedc.typeArtículo de revista

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Attribution-NonCommercial-NoDerivs 3.0 Chile
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivs 3.0 Chile