BANKING CONCENTRATION AND FIRM GROWTH: THE ROLE OF SIZE, LOCATION AND FINANCIAL CRISIS

摘要

Using conditional quantile regressions for a panel of listed firms from euro-area countries in the 2005-11 period, we explore the impact of banking concentration on firm growth between smaller and larger firms; core and periphery countries; in pre-crisis and post-crisis years. Our findings reveal that increasing banking concentration favours high-growth larger-sized firms located in periphery countries pre-crisis. By contrast in post-crisis years increasing banking concentration impacts negatively on low-growth smaller firms irrespective of location, revealing their vulnerability.