Search results for "jel:D40"
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Regional financial development and bank competition: effects on firms' growth
2009
Fernandez de Guevara J. and Maudos J. Regional financial development and bank competition: effects on firms' growth, Regional Studies. This paper analyses the effect of regional financial development and bank competition on firms' growth using the Spanish provinces as a testing ground. The results show that firms in industries with a greater dependence on external finance grow faster in more financially developed provinces. The results also show that bank monopoly power has an inverted-‘U’ effect on firms' growth, suggesting that market power has its highest effect at intermediate values. The effect is heterogeneous among firms according to the financial dependence of the industry to which …
A die-hard aristocracy: competitive balance in Italian soccer, 1929-2009
2010
We will present two measures of the competitive balance in professional Italian soccer, one based on the a club's historical rankings and one based on points scored per season. We will calculate and illustrate their characteristics for the Italian first division (the Serie A) between 1929 and 2009. Using the cumulated rankings of the 60 clubs which have taken part in the Serie A we show that Italian soccer is strongly characterized by a self-reinforcing mechanism of dominance that has created an aristocracy of at most ten strong clubs. We also show that increasing the number of promoted clubs could have an innovative impact. Our results imply that each season is fiercely fought, and this le…