Factors affecting SME access to bank financing: an interview study with Turkish bankers

References

• Ang, J. S. (1992). On the theory of finance for privately held firms. Journal of Small Business Finance, 1(3), 185–203.
   Google Scholar
• Beck, T., Demirguc-Kunt, A., Laeven, L., & Levine, R. (2008). Finance, firm size, and growth. Journal of Money, Credit and Banking, 40(7), 1379–1405. doi: 10.1111/j.1538-4616.2008.00164.x
   Web of Science ®Google Scholar
• Beck, T., Demirgüç-Kunt, A., & Pería, M. S. M. (2011). Bank financing for SMEs: Evidence across countries and bank ownership types. Journal of Financial Services Research, 39(1–2), 35–54. doi: 10.1007/s10693-010-0085-4
   Web of Science ®Google Scholar
• Behr, P., Entzian, A., & Güttler, A. (2011). How do the lending relationships affect access to credit and loan conditions in microlending? Journal of Banking and Finance, 35(8), 2169–2178. doi: 10.1016/j.jbankfin.2011.01.005
   Web of Science ®Google Scholar
• Berger, A. N., & Udell, G. F. (1998). The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle. Journal of Banking and Finance, 22(6–8), 613–673. doi: 10.1016/S0378-4266(98)00038-7
   Web of Science ®Google Scholar
• Bernini, M., & Montagnoli, A. (2017). Competition and financial constraints: A two-sided story. Journal of International Money and Finance, 70(2017), 88–109. doi: 10.1016/j.jimonfin.2016.07.003
   Google Scholar
• Besanko, D., & Thakor, A. V. (1987). Collateral and rationing: Sorting equilibria in monopolistic and competitive credit markets. International Economic Review, 28(3), 671–689. doi: 10.2307/2526573
   Web of Science ®Google Scholar
• Bester, H. (1985). Screening vs. rationing in credit markets with imperfect information. The American Economic Review, 75(4), 850–855.
   Web of Science ®Google Scholar
• BRSA. (2017). Turkish banking sector main indicators. Istanbul: Author. Retrieved from https://www.bddk.org.tr/websitesi/english/Statistical_Data/Monthly_Reports/16437tbsmain_indicators_september_2017.pdf.pdf
   Google Scholar
• Camino, D., & Cardone, C. (1999). The valuation and cost of credit insurance schemes for SMEs: The role of the loan guarantee associations. International Small Business Journal, 17(4), 13–31. doi: 10.1177/0266242699174001
   Google Scholar
• Cenni, S., Monferra, S., Salotti, V., Sangiorgi, M., & Torluccio, G. (2015). Credit rationing and relationship lending. Does firm size matter? Journal of Banking and Finance, 53, 249–265. doi: 10.1016/j.jbankfin.2014.12.010
   Web of Science ®Google Scholar
• Chakravarty, S., & Xiang, M. (2013). The international evidence on discouraged small businesses. Journal of Empirical Finance, 20, 63–82. doi: 10.1016/j.jempfin.2012.09.001
   Web of Science ®Google Scholar
• Comeig, I., Fernandez-Blanco, M. O., & Ramirez, F. (2015). Information acquisition in SME’s relationship lending and the cost of loans. Journal of Business Research, 68(7), 1650–1652. doi: 10.1016/j.jbusres.2015.02.012
   Web of Science ®Google Scholar
• Cotugno, M., Monferra, S., & Sampagnaro, G. (2013). Relationship lending, hierarchical distance and credit tightening: Evidence from the financial crisis. Journal of Banking and Finance, 37(5), 1372–1385. doi: 10.1016/j.jbankfin.2012.07.026
   Web of Science ®Google Scholar
• Cressy, R. (1996). Are business startups debt-rationed? The Economic Journal, 106, 1253–1270. doi: 10.2307/2235519
   Web of Science ®Google Scholar
• Deakins, D., Whittam, G., & Wyper, J. (2010). SMEs’ access to bank finance in Scotland: An analysis of bank manager decision making. Venture Capital, 12(3), 193–209. doi: 10.1080/13691061003658647
   Google Scholar
• De Bodt, E., Lobez, F., & Statnik, J. C. (2005). Credit rationing, customer relationship and the number of banks: An empirical analysis. European Financial Management, 11(2), 195–228. doi: 10.1111/j.1354-7798.2005.00282.x
   Web of Science ®Google Scholar
• De la Torre, A., Martinez Peria, M. S., & Schmukler, S. L. (2010). Bank involvement with SMEs: Beyond relationship lending. Journal of Banking and Finance, 34(9), 2280–2293. doi: 10.1016/j.jbankfin.2010.02.014
   Web of Science ®Google Scholar
• Diamond, D. W. (1991). Monitoring and reputation: The choice between bank loans and directly placed debt. Journal of Political Economy, 99(4), 689–721. doi: 10.1086/261775
   Web of Science ®Google Scholar
• Duygan-Bump, B., Levkov, A., & Montoriol-Garriga, J. (2015). Financing constraints and unemployment: Evidence from the great recession. Journal of Monetary Economics, 75, 89–105. doi: 10.1016/j.jmoneco.2014.12.011
   Web of Science ®Google Scholar
• Feakins, M. (2004). Commercial bank lending to SMEs in Poland. Small Business Economics, 23(1), 51–70. doi: 10.1023/B:SBEJ.0000026025.04815.bc
   Web of Science ®Google Scholar
• Ferri, G., & Murro, P. (2015). Do firm-bank ‘odd couples’ exacerbate credit rationing? Journal of Financial Intermediation, 24(2), 231–251. doi: 10.1016/j.jfi.2014.09.002
   Web of Science ®Google Scholar
• Gertler, M., & Gilchrist, S. (1994). Monetary policy, business cycles, and the behavior of small manufacturing firms. The Quarterly Journal of Economics, 109(2), 309–340. doi: 10.2307/2118465
   Web of Science ®Google Scholar
• Gregory, B. T., Rutherford, M. W., Oswald, S., & Gardiner, L. (2005). An empirical investigation of the growth cycle of small firm financing. Journal of Small Business Management, 43(4), 382–392. doi: 10.1111/j.1540-627X.2005.00143.x
   Web of Science ®Google Scholar
• Hanedar, E. Y., Broccardo, E., & Bazzana, F. (2014). Collateral requirements of SMEs: The evidence from less-developed countries. Journal of Banking and Finance, 38, 106–121. doi: 10.1016/j.jbankfin.2013.09.019
   Web of Science ®Google Scholar
• Hannan, M. T., & Freeman, J. (1984). Structural inertia and organizational change. American Sociological Review, 49(2), 149–164. doi: 10.2307/2095567
   Web of Science ®Google Scholar
• Harvie, C. (2011). Framework chapter: SME access to finance in selected East Asian economies. In C. Harvie, S. Oum, & D. Narjoko (Eds.), Small and medium enterprises (SMEs) access to finance in selected East Asian economies (pp. 17–40). ERIA Research Project Report 2010–14. Jakarta: ERIA.
   Google Scholar
• Hernandez-Canovas, G., & Martinez-Solano, P. (2010). Relationship lending and SME financing in the continental European bank-based system. Small Business Economics, 34(4), 465–482. doi: 10.1007/s11187-008-9129-7
   Web of Science ®Google Scholar
• Hughes, A. (2009). Hunting the snark: Some reflections on the U.K. experience of support for the small business sector. Innovation: Management, Policy and Practice, 11(1), 114–126. doi: 10.5172/impp.453.11.1.114
   Web of Science ®Google Scholar
• Kirschenmann, L. (2016). Credit rationing in small firm bank relationships. Journal of Financial Intermediation, 26, 68–99. doi: 10.1016/j.jfi.2015.11.001
   Web of Science ®Google Scholar
• Mac an Bhaird, C., Sanchez Vidal, J., & Lucey, B. (2016). Discouraged borrowers: Evidence for Eurozone SMEs. Journal of International Markets, Institutions and Money, 44, 46–55. doi: 10.1016/j.intfin.2016.04.009
   Web of Science ®Google Scholar
• Menkhoff, L., Neuberger, D., & Suwanaporn, C. (2006). Collateral-based lending in emerging markets: Evidence from Thailand. Journal of Banking and Finance, 30(1), 1–21. doi: 10.1016/j.jbankfin.2004.12.004
   Web of Science ®Google Scholar
• Moro, A., & Fink, M. (2013). Loan managers’ trust and credit access for SMEs. Journal of Banking and Finance, 37(3), 927–936. doi: 10.1016/j.jbankfin.2012.10.023
   Web of Science ®Google Scholar
• OECD. (2006). The SME financing gap: Theory and evidence. Financial Market Trends, 2006(2), 87–97.
   Google Scholar
• Parker, S. C. (2004). The economics of self-employment and entrepreneurship. Cambridge: Cambridge University Press.
   Google Scholar
• Paulson, A., & Townsend, R. M. (2004). Entrepreneurship and financial constraints in Thailand. Journal of Corporate Finance, 10(2), 229–262. doi: 10.1016/S0929-1199(03)00056-7
   Web of Science ®Google Scholar
• Petersen, M. A., & Rajan, R. G. (1994). The benefits of lending relationships: Evidence from small business data. The Journal of Finance, 49(1), 3–37. doi: 10.1111/j.1540-6261.1994.tb04418.x
   Web of Science ®Google Scholar
• Robb, A. M., & Robinson, D. T. (2014). The capital structure decisions of new firms. Review of Financial Studies, 27(1), 153–179. doi: 10.1093/rfs/hhs072
   Web of Science ®Google Scholar
• Saleem, Q. (2013). Overcoming constraints to SME development in MENA countries and enhancing access to finance. IFC Publication. Retrieved from https://www.ifc.org/wps/wcm/connect/1e6a19804fc58e529881fe0098cb14b9/IFC+Report_Final.pdf?MOD=AJPERES
   Google Scholar
• Saridakis, G., Mole, K., & Storey, D. J. (2008). New small firm survival in England. Empirica, 35(1), 25–39. doi: 10.1007/s10663-007-9049-9
   Google Scholar
• Schiffer, M., & Weder, B. (2001). Firm size and the business environment: Worldwide survey results. IFC discussion paper No. 43. Washington, DC: The World Bank.
   Google Scholar
• Shen, Y., Shen, M., Xu, Z., & Bai, Y. (2009). Bank size and small- and medium-sized enterprise (SME) lending: Evidence from China. World Development, 37(4), 800–811. doi: 10.1016/j.worlddev.2008.07.014
   PubMed Web of Science ®Google Scholar
• Steijvers, T., & Voordeckers, W. (2009). Collateral and credit rationing: A review of recent empirical studies as a guide for future research. Journal of Economic Surveys, 23(5), 924–946. doi: 10.1111/j.1467-6419.2009.00587.x
   Web of Science ®Google Scholar
• The UNCTAD Secreteriat. (2001). Best practices in financial innovations for SMEs. In Improving the competitiveness of SMEs in developing countries. The role of finance to enhance enterprise development (pp. 3–53). New York, NY: United Nations.
   Google Scholar
• Trönnberg, C. C., & Hemlin, S. (2014). Lending decision making in banks: A critical incident study of loan officers. European Management Journal, 32(2), 362–372. doi: 10.1016/j.emj.2013.03.003
   Web of Science ®Google Scholar
• Uchida, H., Udell, G. F., & Yamori, N. (2012). Loan officers and relationship lending to SMEs. Journal of Financial Intermediation, 21(1), 97–122. doi: 10.1016/j.jfi.2011.06.002
   Web of Science ®Google Scholar
• Wolfson, M. H. (1996). A post Keynesian theory of credit rationing. Journal of Post Keynesian Economics, 18(3), 443–470. doi: 10.1080/01603477.1996.11490081
   Web of Science ®Google Scholar
• Zecchini, S., & Ventura, M. (2009). The impact of public guarantees on credit to SMEs. Small Business Economics, 32(2), 191–206. doi: 10.1007/s11187-007-9077-7
   Web of Science ®Google Scholar