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Mergers and Acquisitions of Financial Institutions FDIC, Arlington, VA. 30th November 01st December 2007

What the paper does:We investigate the determinants of multiple bank relationships based on SME firm, bank market, and financial system architecture characteristics. How do changes in bank market structure and competition among banks affect the number of bank relationships that SMEs maintain?.

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Mergers and Acquisitions of Financial Institutions FDIC, Arlington, VA. 30th November 01st December 2007

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    11. The interaction term indicates that the effect of competition on the number of bank relationships is greater in more concentrated markets. This could reflect that hold up problems are more likely to be reduced in competitive markets.The interaction term indicates that the effect of competition on the number of bank relationships is greater in more concentrated markets. This could reflect that hold up problems are more likely to be reduced in competitive markets.

    12. The initial result that SMEs maintain more financing relationships when operating in more concentrated markets suggests hold up problems. The initial result that SMEs maintain more financing relationships when operating in more concentrated markets suggests hold up problems.

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