@article{2022:jackowicz:are_smes_l,
title = {Are SMEs locked in relationships with their banks?},
year = {2022},
note = {In this study, we investigate whether SMEs are locked in relationships
with their banks. We combine data concerning Polish SMEs, including a
survey about relationships with main banks. After estimating dynamic
panel models, we find that the length of a bank-firm relationship
increases firms’ interest costs, slows down investments and sales
growth but is irrelevant for firms’ profitability. Therefore, our
evidence supports the view that the collection of private data by a
bank may “lock” a firm in the existing relationship with the bank,
permit this lender to extract information monopoly rents, and force
the SME to incur the so-called hold-up costs.},
journal = {JEEMS Journal of East European Management Studies},
pages = {11--30},
author = {Jackowicz, Krzysztof and Kozłowski, Łukasz},
volume = {27},
number = {1}
}