Does Local Access to Finance Matter? Evidence from U.S. Oil and Natural Gas Shale Booms

Published Online:https://doi.org/10.1287/mnsc.2017.2818

References

  • Adelino M, Ma S, Robinson D (2017) Firm age, investment opportunities, and job creation. J. Finance 72(3):999–1038.CrossrefGoogle Scholar
  • Agarwal S, Hauswald R (2010) Distance and private information in lending. Rev. Financial Stud. 23(7):2757–2788.CrossrefGoogle Scholar
  • Ashcraft AB (2005) Are banks really special? New evidence from the FDIC-induced failure of healthy banks. Amer. Econom. Rev. 95(5):1712–1730.CrossrefGoogle Scholar
  • Bassett WF, Brady T (2002) What drives the persistent competitiveness of small banks? Finance and Economics Discussion Series Working Paper 2002-28, Board of Governors of the Federal Reserve System, Washington, DC.Google Scholar
  • Becker B (2007) Geographical segmentation of US capital markets. J. Financial Econom. 85(1):151–178.CrossrefGoogle Scholar
  • Berger AN (2003) The economic effects of technological progress: Evidence from the banking industry. J. Money Credit Banking 35(2):141–176.CrossrefGoogle Scholar
  • Berger AN, Udell GF (2006) A more complete conceptual framework for SME finance. J. Banking Finance 30(11):2945–2966.CrossrefGoogle Scholar
  • Bertrand M, Schoar A, Thesmar D (2007) Banking deregulation and industry structure: Evidence from the French banking reforms of 1985. J. Finance 62(2):597–628.CrossrefGoogle Scholar
  • Black SE, Strahan P (2002) Entrepreneurship and bank credit availability. J. Finance 57(6):2807–2833.CrossrefGoogle Scholar
  • Butler AW, Cornaggia J (2011) Does access to external finance improve productivity? Evidence from a natural experiment. J. Financial Econom. 99(1):184–203.CrossrefGoogle Scholar
  • Campello M (2002) Internal capital markets in financial conglomerates: Evidence from small bank responses to monetary policy. J. Finance 57(6):2773–2805.CrossrefGoogle Scholar
  • Cetorelli N, Strahan P (2006) Finance as a barrier to entry: Bank competition and industry structure in local U.S. markets. J. Finance 61(1):437–461.CrossrefGoogle Scholar
  • Chava S, Purnanandam A (2011) The effect of banking crisis on bank-dependent borrowers. J. Financial Econom. 99(1):116–135.CrossrefGoogle Scholar
  • Cornaggia J (2013) Does risk management matter? Evidence from the U.S. agriculture industry. J. Financial Econom. 109(2):419–440.CrossrefGoogle Scholar
  • Gilje EP, Loutskina E, Strahan PE (2016) Exporting liquidity: Branch banking and financial integration. J. Finance 71(3):1159–1184.CrossrefGoogle Scholar
  • Glaeser EL, Kerr SP, Kerr WR (2015) Entrepreneurship and urban growth: An empirical assessment with historical mines. Rev. Econom. Statist. 97(2):498–520.CrossrefGoogle Scholar
  • Gormley TA, Matsa DA (2014) Common errors: How to (and not to) control for unobserved heterogeneity. Rev. Financial Stud. 27(2):617–661.CrossrefGoogle Scholar
  • Guiso L, Sapienza P, Zingales L (2004) Does local financial development matter? Quart. J. Econom. 119(3):929–969.CrossrefGoogle Scholar
  • Houston J, James C, Marcus D (1997) Capital market frictions and the role of internal capital markets in banking. J. Financial Econom. 46(2):135–164.CrossrefGoogle Scholar
  • Iyer R, Peydro J (2011) Interbank contagion at work: Evidence from a natural experiment. Rev. Financial Stud. 24(4):1337–1377.CrossrefGoogle Scholar
  • Jayaratne J, Morgan D (2000) Capital market frictions and deposit constraints at banks. J. Money Credit Banking 32(1):74–92.CrossrefGoogle Scholar
  • Jayaratne J, Strahan P (1996) The finance-growth nexus: Evidence from bank branch deregulation. Quart. J. Econom. 111(3):639–670.CrossrefGoogle Scholar
  • Kashyap A, Stein JC (2000) What do a million observations on banks say about the transmission of monetary policy. Amer. Econom. Rev. 90(3):407–428.CrossrefGoogle Scholar
  • Kerr WR, Nanda R (2009) Democratizing entry: Banking deregulations, financing constraints, and entrepreneurship. J. Financial Econom. 94(1):124–149.CrossrefGoogle Scholar
  • Khwaja AI, Mian A (2008) Tracing the impact of bank liquidity shocks: Evidence from an emerging market. Amer. Econom. Rev. 98(4):1413–1442.CrossrefGoogle Scholar
  • Loutskina E, Strahan PE (2009) Securitization and the declining impact of bank finance on loan supply: Evidence from mortgage originations. J. Finance 64(2):861–889.CrossrefGoogle Scholar
  • Paravisini D (2008) Local bank financial constraints and firm access to external finance. J. Finance 63(5):2161–2193.CrossrefGoogle Scholar
  • Pascali L (2016) Banks and development: Jewish communities in the Italian Renaissance and current economic performance. Rev. Econom. Statist. 98(1):140–158.CrossrefGoogle Scholar
  • Peek J, Rosengren E (2000) Collateral damage: Effects of the Japanese bank crisis on real activity in the United States. Amer. Econom. Rev. 90(1):30–45.CrossrefGoogle Scholar
  • Petersen MA, Rajan RG (2002) Does distance still matter? The information revolution in small business lending. J. Finance 57(6):2533–2570.CrossrefGoogle Scholar
  • Plosser M (2011) Bank heterogeneity and capital allocation: Evidence from 'fracking' shocks. Working paper, Federal Reserve Bank of New York, New York.Google Scholar
  • Rajan RG, Zingales L (1998) Financial dependence and growth. Amer. Econom. Rev. 88(3):559–586.Google Scholar
  • Samila S, Sorenson O (2011) Venture capital, entrepreneurship, and economic growth. Rev. Econom. Statist. 93(1):338–349.CrossrefGoogle Scholar
  • Schnabl P (2012) The international transmission of bank liquidity shocks: Evidence from an emerging market. J. Finance 67(3):897–932.CrossrefGoogle Scholar
  • Strahan PE, Weston JP (1998) Small business lending and the changing structure of the banking industry. J. Banking Finance 22(6):821–845.CrossrefGoogle Scholar
  • Sufi A (2007) Information asymmetry and financing arrangements: Evidence from syndicated loans. J. Finance 62(2):629–668.CrossrefGoogle Scholar
  • Times-Picayune (2008) SWEET SPOT; A recent rush on natural gas drilling in northwest Louisiana is turning many landowners into instant millionaires, and stoking others' hopes. (September 17).Google Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.