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Economics of small business lending:...

Mallick, Rajiv.

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Economics of small business lending: An empirical investigation.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Economics of small business lending: An empirical investigation./
作者:	Mallick, Rajiv.
面頁冊數:	134 p.
附註:	Adviser: Blake LeBaron.
Contained By:	Dissertation Abstracts International63-01A.
標題:	Business Administration, Banking. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3041414
ISBN:	0493548580

Economics of small business lending: An empirical investigation.
Mallick, Rajiv.

Economics of small business lending: An empirical investigation. - 134 p.

Adviser: Blake LeBaron.

Thesis (Ph.D.)--Brandeis University - Graduate School of International Economics and Finance, 2002.

The essays in this dissertation contribute to a better understanding of credit conditions of small businesses in the US. It analyzes the National Survey of Small Business Finances (1993) to describe and discern the pattern of debt use, to estimate the magnitude of credit gap and the probability of credit extension.

ISBN: 0493548580Subjects--Topical Terms:

1018458
Business Administration, Banking.

Economics of small business lending: An empirical investigation.
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245 1 0 $a Economics of small business lending: An empirical investigation.
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502 $a Thesis (Ph.D.)--Brandeis University - Graduate School of International Economics and Finance, 2002.
520 $a The essays in this dissertation contribute to a better understanding of credit conditions of small businesses in the US. It analyzes the National Survey of Small Business Finances (1993) to describe and discern the pattern of debt use, to estimate the magnitude of credit gap and the probability of credit extension.
520 $a This dissertation is in three essays. The first essay uses some non-parametric techniques to examine patterns of debt use by small firms and how the patterns differ across some firm categories. The methodological goal is to use the richness of the firm level data and allow convincing presentations with minimum of assumptions. The procedures used provide easily comprehendible graphical description of the data. They augment what one can discern from descriptive statistics by incorporating the formula that accounts for differential weights and allowing for clustering that may be natural features for cross-sectional data. It is also shown how firms could benefit if credit availability improves. Though, a model-based analysis would be required to provide a detailed analysis, it suggests that greater credit availability will benefit all firms. Firms with low levels of equity will be better off as their credit constraints will be less binding, while firms with high levels of equity will benefit from acquiring more debt.
520 $a The second essay provides empirical estimates the magnitude of credit gap faced by small businesses in the US. The credit gap is defined as the difference between the desired and the actual levels of debt. The estimated gap is approximately 20 percent—credit constrained small firms on average would desire 20 percent more debt than what they actually have. This gap varies considerably across industries, with service, manufacturing and wholesale industries facing a significantly larger gap than firms in other industries. The analysis indicates that credit policies will be more effective if they are customized to industry needs.
520 $a In the third essay, it estimates the probability of credit extension while correcting for sample selection. The issue of sample selection arises when such estimates are arrived at using data on most recent loans only. The essay also presents an augmented specification that includes both owner and loan characteristics. It finds that sample selection matters and that estimates obtained from the sub-sample of small business overestimates some of the relationship coefficients. The augmented specification also shows that loan and owner characteristics, such as loan amount-asset ratio, firms denied trade credit, African-American owners are more likely to lower the probability of credit extension.
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791 $a Ph.D.
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