In this paper, the effect of local bank branch closures on new firm formation in Sweden is analysed using a panel database that captures the geographical locations of all Swedish bank branches in 2007 and 2013. The previous research has shown that the further a firm is located away from the bank, the higher the monitoring costs will be for the banks. Furthermore, an increase in the distance to the banks will also increase information asymmetry because of the banks’ eroded ability to collect and analyse soft information. Due to the high risks associated with the lack of information and uncertainty, banks might not be as willing to extend credits to a distant firm compared to a nearby firm. Using spatial econometric analysis at a municipal level, it is shown that bank proximity to firms, unemployment rate, industry structures, income growth, change in housing price and percentage of immigrants are vital for new firm formation in Sweden. From the spatial Durbin model with fixed effects, an increase in the weighted distance to the nearest bank branches is shown to affect new firm formation negatively.

中文翻译：

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银行分行关闭对新公司成立的影响：瑞典案例

在本文中，使用面板数据库分析了瑞典当地银行分支机构关闭对新公司形成的影响，该数据库捕获了2007年和2013年所有瑞典银行分支机构的地理位置。以前的研究表明，公司的所在地更远远离银行，银行的监控成本将更高。此外，由于银行对软信息的收集和分析能力下降，与银行之间距离的增加也将增加信息的不对称性。由于缺乏信息和不确定性带来的高风险，与附近的公司相比，银行可能不愿意将信贷提供给远方的公司。通过在市政一级进行空间计量经济学分析，可以发现银行与公司的距离，失业率，行业结构，收入增长，住房价格和移民比例的变化对于瑞典新公司的成立至关重要。从具有固定影响的空间杜宾模型，到最近银行分支的加权距离的增加显示出对新公司形成的负面影响。