Cited by 1,590Banking stability, regulation, efficiencyCorporate Finance and GovernanceBanking Systems and Strategies

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Can Relationship Banking Survive Competition?

Boot, Arnoud W. A., Thakor, Anjan V.·2000·The Journal of Finance

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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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Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476

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“Some empirical researches show the distinction between bank relationship-based lending and transactions-based lending (Boot & Thakor, 2000; Cole et al., 2004; Berger et al., 2005; Agarwal & Hauswald, 2007).”
Background
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The Development of the Relationship Lending Theory in China
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“Diamond [4] as well as Boot and Thakor [5] put forward that, in the early period banks did not know the type of borrowing enterprises, and enterprises were required to pay high interest rates; with the continuity of relationship, banks received the private information of enterprises, so credit contracts were adjusted…”
Background
Financial Structure and Incentives
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“This finding is consistent with the theoretical prediction on the likelihood of collateral, which argues that a firm’s proportion of collateralized loans is positively related to its asymmetry information level (Berger and Udell 2002; Boot and Thakor 2000).”
BackgroundResult
Hold-up versus Benefits in Relationship Banking: A Natural Experiment Using REIT Organizational Form
Deng, Y.-H., Hu, M., & Srinivasan, A. (2011) · doi:10.2139/ssrn.1959721 · Cited by 3

Authors: Boot, A. W. A., & Thakor, A. V.
Affiliations: Tinbergen Institute (NL)
ORCID: Boot, Arnoud W. A.
Thakor, Anjan V.
Venue: The Journal of Finance
Publisher: Wiley
Published: 2000-04
Volume: 55
Issue: 2
Pages: 679-713
ISSN: 0022-1082 (ISSN-L)
1540-6261
DOI: 10.1111/0022-1082.00223
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
Licence: onlinelibrary.wiley.com/termsAndConditions#vor (vor, 990 d)
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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Can Relationship Banking Survive Competition?

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