Distance, Rating Systems and Enterprise Finance PDF
By:Franz Flögel
Published on 2018-07-27 by Routledge
In response to the credit crunch during the global financial crisis of 2007–2008, many have called for the re-establishment of regional banks in the UK and elsewhere. In this context, Germany’s regional banking system, with its more than 1,400 small and regional savings banks and cooperative banks, is viewed as a role model in the financing of small and medium-sized enterprises (SMEs). However, in line with the ‘death of distance’ debate, the universal application of ICT-based scoring and rating systems potentially obviates the necessity for proximity to reduce information asymmetries between banks and SMEs, calling into question the key advantage of regional banks. Utilising novel ethnographic findings from full-time participant observation and interviews, this book presents intimate insights into regional savings banks and compares their SME lending practices with large, nationwide-operating commercial banks in Germany. The ethnographic insights are contextualised by concise description of the three-pillar German banking system, covering bank regulation, structural and geographical developments, and enterprise finance. Furthermore, the book advances an original theoretical approach that combines classical banking theories with insights from social studies of finance on the (ontological) foundation of new realism. Ethnographic findings reveal varying distances of credit granting depending on the rating results, i.e. large banks allocate considerable credit-granting authority to local staff and therefore challenge the proximity advantages of regional banks. Nevertheless, by presenting case studies of lending to SMEs, the book demonstrates the ability of regional banks to capitalise on proximity when screening and monitoring financially distressed SMEs and explains why the suggestion that ICT can substitute for proximity in SME lending has to be rejected.
This Book was ranked at 5 by Google Books for keyword Business Money Industries novel.
Book ID of Distance, Rating Systems and Enterprise Finance's Books is Mc1mDwAAQBAJ, Book which was written byFranz Flögelhave ETAG "P/dtg5VABaQ"
Book which was published by Routledge since 2018-07-27 have ISBNs, ISBN 13 Code is 9781351256100 and ISBN 10 Code is 1351256106
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Book which have "320 Pages" is Printed at BOOK under CategoryBusiness and Economics
Book was written in en
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