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Do Norwegian start-ups and smaller business benefit from being located in an area serviced by a local savings bank?

Lau, Kai Tai; Bjørnsen, Oda Martine
Master thesis
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http://hdl.handle.net/11250/2478759
Issue date
2017
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  • Master of Science [835]
Abstract
We examine the effect of the Norwegian bank industry consolidation, and consequent

decrease in local savings banks, on the survival and growth of small businesses. The

analysis uses year-by-year financial information for Norwegian companies and bank

information from the Bank Location Register. Firstly, a survival analysis is conducted.

The analysis finds that companies located in areas with a high degree of savings bank

presence, show a higher survival rate. Secondly, the analysis is extended by building

several multiple regression models. The models are applied to analyze the effect of

savings bank exposure on company growth. The results show a significant negative

effect, municipalities (kommune) with low savings bank concentration show more

business growth. Results from the multiple regression models indicate that businesses

regarded as small, have a growth advantage. Arguably, the multiple regressions

indicate growth is not a result of bank presence, rather firm specific and exogenous

variables play a vital role.
Description
Masteroppgave(MSc) in Master of Science in Finance - Handelshøyskolen BI, 2017
Publisher
BI Norwegian Business School

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