数字经济前沿文献讨论会第8期：Does banking competition affect innovation?
333 时间：2020年8月17日（周一）下午15:00
形式：钉钉群视频会议
题目：Does banking competition affect innovation?
期刊：Journal of Financial Economics
作者：Jess Cornaggia, Yi fei Mao, Xuan Tian, Brian Wolfe
摘要：We exploit the deregulation of interstate bank branching laws to test whether banking competition affects innovation. We find robust evidence that banking competition reduces state-level innovation by public corporations headquartered within deregulating states. Innovation increases among private firms that are dependent on external finance and that have limited access to credit from local banks. We argue that banking competition enables small, innovative firms to secure financing instead of being acquired by public corporations. Therefore, banking competition reduces the supply of innovative targets, which reduces the portion of state-level innovation attribute able to public corporations. Overall, these results shed light on the real effects of banking competition and the determinants of innovation.
主讲人：孙书君博士生
