标题：Firm Industry Affiliation and Multiple Bank Relationships
作者：Ongena, Steven; Yu, Yuejuan
作者机构：[Ongena, Steven] Univ Zurich, Swiss Finance Inst, Plattenstr 14, CH-8032 Zurich, Switzerland.; [Ongena, Steven] Univ Zurich, CEPR, Plattenstr 14, CH 更多
通讯作者：Ongena, S;Ongena, S
通讯作者地址：[Ongena, S]Univ Zurich, Swiss Finance Inst, Plattenstr 14, CH-8032 Zurich, Switzerland;[Ongena, S]Univ Zurich, CEPR, Plattenstr 14, CH-8032 Zurich, Sw 更多
来源：JOURNAL OF FINANCIAL SERVICES RESEARCH
关键词：Number of firm-bank relationships; Firm industry affiliation
摘要：We explain the number of bank relationships a firm maintains by the number of industries it operates in, analyzing 13,570 listed firms in 18 Eastern European countries. We estimate a variety of stylized models including OLS, Tobit and negative binomial that directly accounts at once for the number of bank relationships. Controlling for many firm characteristics and accounting for all observed and unobserved time-invariant heterogeneity across firms, we find that the number of industries the firm operates in corresponds to a higher number of bank relationships, possibly because banks specialize in certain industries.