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Le rôle des liens sociaux et de la confiance sur le financement bancaire des PME : une étude exploratoire

Abstract : In the French context, banks play an essential role in financing firms, especially small and medium enterprises (SMEs) since they have more difficulties accessing equity capital markets. The process used by banks to decide whether and how much to lend relies on different lending technologies and banks usually tend to use more than one technology at a time (Berger and Udell, 2006). Among the various lending technologies, relationship lending has a peculiar role. However, research on relationships lending pays only marginal attention to the role of social ties and trust on financing conditions for SMEs. Social relationships literature suggests that the more commercial transactions between a firm and the bank it borrows from are embedded in social attachments, the more expectations of trust and reciprocity shape transacting. Thereby, it would promote governance benefits and transfers of soft information (Uzzi, 1999). Thus, these relationships can play an Important role in reducing agency problems, moral hazard, adverse selection and transaction costs as well as the costs of monitoring and control. The present exploratory study is an attempt to fill this gap by investigating how social interaction affects the terms of loan financing for SMEs (credit access, interest rate, guarantees, defaults). It is based on a survey of bank lending managers and entrepreneurs.
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Submitted on : Tuesday, April 8, 2014 - 2:47:08 PM
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Mazen Gharsalli. Le rôle des liens sociaux et de la confiance sur le financement bancaire des PME : une étude exploratoire. Gestion et management. Université de Bretagne occidentale - Brest, 2013. Français. ⟨NNT : 2013BRES0039⟩. ⟨tel-00975357⟩



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