은행의 규모와 중소기업 금융에 관한 연구

This research begins with theoretical framework that the loans to small and medium enterprises(‘SME’) are influenced by three factors such as the infrastructure of bank industry, lending technology, and government policy. Under this framework, this study investigates the question whether SME’s choose large banks or small banks, depending on their size, return rate, the relationship strength with their main banks, and market characteristic. This research takes advantage of the empirical methodology of Berger and Black (2011). Our empirical study shows the following results. First, SME’s are more probable to choose large banks, the greater their size is and the higher their credit is. Secondly, with regard to relationship financing, SME’s are more probable to choose to large banks, the stronger the relationship with their main banks are. Therefore, large banks have some comparative advantage in the loan for SME and can offer efficiently the loan for SME’s which are not transparent in their information, if they selectively take the hard information lending technology. Thirdly, a market characteristic such as higher loan concentration ratio has a negative effect on SME’s choice for large banks. Our empirical result means the policy implication that large banks have some comparative advantage in the loan for SME’s. Therefore, large banks are capable to give the efficient loans for SME’s. Actually they are accustomed to comprehensive screening in the firm borrowers under external auditing, analyzing the qualitative information additionally.