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The impact of banking concentration on firm leverage in emerging markets

Purpose The purpose of this paper is to explore the impact of banking concentration on firm leverage in 21 major emerging countries from different geographical regions, controlling for firm determinant and macroeconomic determinant of firm leverage. Design/methodology/approach This study is bas...

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Main Authors: Farzin, Abadi, A. N., Bany Ariffin, Kokoszczynski, Ryszard, W. N., W. Azman Saini
Format: Article
Language:English
Published: Emerald Publishing Limited 2016
Online Access:http://psasir.upm.edu.my/id/eprint/53015/1/The%20impact%20of%20banking%20concentration%20on%20firm%20leverage%20in%20emerging%20markets.pdf
http://psasir.upm.edu.my/id/eprint/53015/
http://www.emeraldinsight.com/loi/ijoem
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spelling my.upm.eprints.530152017-11-17T04:48:37Z http://psasir.upm.edu.my/id/eprint/53015/ The impact of banking concentration on firm leverage in emerging markets Farzin, Abadi A. N., Bany Ariffin Kokoszczynski, Ryszard W. N., W. Azman Saini Purpose The purpose of this paper is to explore the impact of banking concentration on firm leverage in 21 major emerging countries from different geographical regions, controlling for firm determinant and macroeconomic determinant of firm leverage. Design/methodology/approach This study is based on a relatively large sample of 5,779 enterprises with total 48,280 numbers of observations over the period from 2006 to 2013 and the regression model is performed by applying two-step system general method of moment estimator methodology. Findings This study finds a positive and significant relationship between banking concentration and firm leverage. Therefore, the overall results follow the information-based theory which indicates lower firms financing obstacles as banks are more concentrated. Research limitations/implications Bank-level data of all the countries to measure banking concentration is until 2013, which restrict the empirical analysis until 2013. Also, the study conducts the analysis. Practical implications The study enables policymakers, society, and academics to have better understanding on the beneficial effects of alternative banking market structure on firms’access to credit and therefore, in determining the level of firm leverage in emerging countries. Originality/value The study represents one of the limited available empirical researches to examine the beneficial effect of alternative banking market structures of firm leverage in emerging countries. Emerald Publishing Limited 2016 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/53015/1/The%20impact%20of%20banking%20concentration%20on%20firm%20leverage%20in%20emerging%20markets.pdf Farzin, Abadi and A. N., Bany Ariffin and Kokoszczynski, Ryszard and W. N., W. Azman Saini (2016) The impact of banking concentration on firm leverage in emerging markets. International Journal of Emerging Markets, 11 (4). pp. 550-568. ISSN 1746-8809 http://www.emeraldinsight.com/loi/ijoem 10.1108/IJoEM-02-2015-0035
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description Purpose The purpose of this paper is to explore the impact of banking concentration on firm leverage in 21 major emerging countries from different geographical regions, controlling for firm determinant and macroeconomic determinant of firm leverage. Design/methodology/approach This study is based on a relatively large sample of 5,779 enterprises with total 48,280 numbers of observations over the period from 2006 to 2013 and the regression model is performed by applying two-step system general method of moment estimator methodology. Findings This study finds a positive and significant relationship between banking concentration and firm leverage. Therefore, the overall results follow the information-based theory which indicates lower firms financing obstacles as banks are more concentrated. Research limitations/implications Bank-level data of all the countries to measure banking concentration is until 2013, which restrict the empirical analysis until 2013. Also, the study conducts the analysis. Practical implications The study enables policymakers, society, and academics to have better understanding on the beneficial effects of alternative banking market structure on firms’access to credit and therefore, in determining the level of firm leverage in emerging countries. Originality/value The study represents one of the limited available empirical researches to examine the beneficial effect of alternative banking market structures of firm leverage in emerging countries.
format Article
author Farzin, Abadi
A. N., Bany Ariffin
Kokoszczynski, Ryszard
W. N., W. Azman Saini
spellingShingle Farzin, Abadi
A. N., Bany Ariffin
Kokoszczynski, Ryszard
W. N., W. Azman Saini
The impact of banking concentration on firm leverage in emerging markets
author_facet Farzin, Abadi
A. N., Bany Ariffin
Kokoszczynski, Ryszard
W. N., W. Azman Saini
author_sort Farzin, Abadi
title The impact of banking concentration on firm leverage in emerging markets
title_short The impact of banking concentration on firm leverage in emerging markets
title_full The impact of banking concentration on firm leverage in emerging markets
title_fullStr The impact of banking concentration on firm leverage in emerging markets
title_full_unstemmed The impact of banking concentration on firm leverage in emerging markets
title_sort impact of banking concentration on firm leverage in emerging markets
publisher Emerald Publishing Limited
publishDate 2016
url http://psasir.upm.edu.my/id/eprint/53015/1/The%20impact%20of%20banking%20concentration%20on%20firm%20leverage%20in%20emerging%20markets.pdf
http://psasir.upm.edu.my/id/eprint/53015/
http://www.emeraldinsight.com/loi/ijoem
_version_ 1643835313541349376
score 13.211869

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