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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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“Another strand of bank literature shows that relational lending or contracts allow banks to extract higher rents from borrowers (Boot and Thakor 2000).”
Background
Monitoring and incentives under multiple-bank lending: The role of collusive threats
Dam, K., & Chowdhury, P. (2021) · Journal of Economics Theory · doi:10.1016/j.jet.2021.105320 · Cited by 1
Contractual Saving for Housing as Early Financial Development and its Clients in Weimar Germany
Gehrung, M., Burghof, H.-P., Braun, J., & Schmidt, D. (2021) · Social Science Research Network · doi:10.2139/ssrn.3742623 · Cited by 1
DETERMINANTS OF SHARIAH BANKS LENDING: EVIDENCE FROM ISLAMIC BUSINESS UNIT BANKS
Azwirman, & Agustin, H. (2020) · doi:10.25299/jtb.2020.vol3(2).5716 · Cited by 1
Relationship Lending and Liquidation Under Imperfect Information
Tassel, E. V. (2020) · Journal of financial services research · doi:10.1007/s10693-020-00336-7 · Cited by 1
Reseach on an Innovative Digital Intelligent Ecological Model Based on the BlockChain Cloud in China
Xu, J.-Q., & Shi, Y.-P. (2020) · 2020 International Conference on Big Data and Informatization Education (ICBDIE) · doi:10.1109/icbdie50010.2020.00123 · Cited by 1
“The main basis is that under the ethereum smart contract agreement, users can directly complete transactions and start the market without traditional credit intermediary, thus greatly reducing and avoiding the cost of verification and network [7]”
BackgroundMethodInfluential
ECONOMIC PROSPECTS OF TRANCHING SYNDICATE LOAN MARKETS.
Kamilova, I. (2019) · Theoretical & Applied Science · doi:10.15863/tas.2019.10.78.43 · Cited by 1
“As Boot and Thakor (2000) emphasize, the finance literature tends to identify relationship lending with private finance (bank loans and private placements) and transactions lending with public finance (capital market debt).”

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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