BANKING DEREGULATIONS, FINANCING CONSTRAINTS, AND FIRM ENTRY SIZE
成果类型：
Article; Proceedings Paper
署名作者：
Kerr, William R.; Nanda, Ramana
署名单位：
Harvard University
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1111/j.1542-4774.2010.tb00528.x
发表日期：
2010
页码：
582-593
关键词：
摘要：
We examine the effect of U. S. branch banking deregulations on the entry size of new firms, using micro-data from the U. S. Census Bureau. We find that the average entry size for startups did not change following the deregulations. However, among firms that survived at least four years, a greater proportion of firms entered either at their maximum size or closer to the maximum size in the first year. The magnitude of these effects were small compared to the much larger changes in entry rates of small firms following the reforms. Our results highlight that this large-scale entry at the extensive margin can obscure the more subtle intensive margin effects of changes in financing constraints. (JEL: E44, G21, L26, L43, M13)
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