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Journal of Banking and Finance


Small-business lending;Cooperative banks;Foreign banks;Post-transition countries


  1. Iftekhar Hasan
  2. Krzysztof Jackowicz
  3. Oskar Kowalewski
  4. Lukasz Kozlowski


    2. BANKING


      This paper investigates the relationship between local banking
      structures and SMEs’ access to debt and performance. Using a unique
      dataset on bank branch locations in Poland and firm-, county-, and
      bank-level data, we conclude that a strong position for local
      cooperative banks facilitates access to bank financing, lowers financial
      costs, boosts investments, and favours growth for SMEs. Moreover,
      counties in which cooperative banks hold a strong position are
      characterized by a more rapid pace of new firm creation. The opposite
      effects appear in the majority of cases for local banking markets
      dominated by foreign-owned banks. Consequently, our findings are
      important from a policy perspective because they show that foreign bank
      entry and industry consolidation may raise valid concerns for SME
      prospects in emerging economies.


      Vol 79, Tahun 2017


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