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How local is local? Evidence from bank competition and corporate innovation in U.S.

Tian, L. and Han, L. ORCID: https://orcid.org/0000-0002-2778-3338 (2019) How local is local? Evidence from bank competition and corporate innovation in U.S. Review of Quantitative Finance and Accounting, 52 (1). pp. 289-324. ISSN 1573-7179

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To link to this item DOI: 10.1007/s11156-018-0710-0

Abstract/Summary

This paper aims to fill in a research gap in the effects of bank competition on corporate innovation. In addition to the evidence on the favorable effects of bank competition on corporate innovation, we show novel evidence on the substitution effects of bank competition in a wider region and neighbor-state to local bank competition in financing corporate innovation activities. In banking market, we show ‘how local is local’ depends on the operating scope and information transparency of firms. Local banks have an information advantage over distant banks in financing local businesses and informationally opaque corporate innovation activities.

Item Type:Article
Refereed:Yes
Divisions:Henley Business School > Business Informatics, Systems and Accounting
ID Code:75641
Publisher:Springer

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