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Can Relationship Banking Survive Competition?
Abstract
How will banks evolve as competition increases from other banks and from the capital market? Will banks become more like capital market underwriters and offer passive transaction loans or return to their roots as relationship lending experts? These are the questions we address. Our key result is that as interbank competition increases, banks make more relationship loans, but each has lower added value for borrowers. Capital market competition reduces relationship lending (and bank lending shrinks), but each relationship loan has greater added value for borrowers. In both cases, welfare increases for some borrowers but not necessarily for all.
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“Bank competition in Africa causes banks with low-profit margins to become more clientdriven as they raise their efficiency and expand their outreach (Boot & Thakor 2000), thereby enhancing financial services accessibility and availability.”
From Financial inclusion, bank competition and economic growth in Africa (2021) · cites this paper as Boot & Thakor 2000
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“Boot and Thakor (2000) show that bank competition reduces the profitability of transactional lending in relation to relationship lending.”
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“…increased competition may elevate the value of relationship banking, hence inducing banks to invest more in private information production (e.g., Boot and Thakor 2000; Yafeh and Yosha 2001).1 However, the pioneering work of Stiglitz and Weiss (1981) emphasizes the role of informational…”
Guo, X., Duff, A., & Hair, M. (2010) · doi:10.1080/13602380903080357 · Cited by 8
“In contrast, transaction banking focuses on a single transaction with a customer or multiple identical transactions with various customers rather than an information-intensive relationship with a customer (Boot 2000, Boot and Thakor 2000).”
BackgroundMultiple Banking Relationships and Over-Leverage in Italian Manufacturing Firms
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“…rate is likely to be positively related to bank loan growth as bank market power is associated with the expectation of long-standing relationships that allow banks to extract a higher share of the profits on future bank-funded investments (Petersen and Rajan (1995) and Boot and Thakor (2002)).”
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Metadata
- Authors
- Boot, A. W. A., & Thakor, A. V.
- Affiliations
- Tinbergen Institute (NL)
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2000-04
- Volume
- 55
- Issue
- 2
- Pages
- 679-713
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2167141920
- Cited by
- 1,590
- References
- 0
- Citations by year
- 2026: 54 · 2025: 80 · 2024: 78 · 2023: 82 · 2022: 60 · 2021: 62 · 2020: 76 · 2019: 76 · 2018: 76 · 2017: 53 · 2016: 62 · 2015: 73 · 2014: 53 · 2013: 81 · 2012: 63
- FWCI
- 59.16
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- The Journal of Finance (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- OpenGrey (Institut de l'Information Scientifique et Technique) (submittedVersion)
- UvA-DARE (University of Amsterdam) (submittedVersion)
- Data Archiving and Networked Services (DANS) (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Banking stability, regulation, efficiency
- Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Social Sciences › Economics, Econometrics and Finance › Finance › Banking Systems and Strategies
- Keywords
- relationship banking, relationship lending, bank competition, capital market competition, bank lending, borrower welfare, underwriting
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