Using Financial License Information from the State Financial Supervision and Adminis-tration Bureau and data from the World Bank's China Enterprise Survey,this article analyzes the impact of rising density of large and small and medium-sized banks on easing the financing con-straints of enterprises by taking the availability of loans to enterprises as the object of the study.The results of the study show that:(1)The rise in over-all bank density is conducive to increasing the probability of enterprises obtaining loans.Compared with small and medium-sized banks,the rise in density of large banks is more favorable to help en-terprises obtain loans overall.(2)There is hetero-geneity in the effect of different types of banks on the value of loan collateral.Rising density of large banks significantly reduces the value of collateral required for enterprises'loans,but rising density of small and medium-sized banks fails to effectively reduce the value of collateral.(3)The increase in density of large banks significantly promotes small and medium-sized enterprises with better credit qualifications to obtain loans,while the increase in density of small and medium-sized banks signifi-cantly promotes small and medium-sized enterprises with poorer credit qualifications to obtain loans,and there is a phenomenon of'cherry picking'by large banks in the credit market.The research in this arti-cle has certain theoretical and practical significance on how different types of banks'development can effectively alleviate the financing constraints of enterprises.
Bank densityFinancing con-straintLarge bankSmall and medium-sized banks(SMBs)
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