Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 22, 2015 erstellt
Description:
According to Kremp and Sevestre (2013), French firms did not suffer from credit restriction during the period 2004-2010. This study seeks to identify the benefits of bank-firm relationships when credit is unconstrained. By using a unique set of data collected from a French relationship bank (CMNE), covering the period 1996-2009, the study shows that, depending on the health of the economy, the benefits of bank-firm relationships may take the form of a weaker credit spread. The results are complementary with those of Sharpe (1990); they indicate that weaker interest rates appear only in normal periods, and hold up is a problem only during economic recessions