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We analyze the relationship between bank size and small business lending, and we attempt to identify the supply curve of small business loans for US banks by estimating a simultaneous equations model of the supply of and demand for small business loans. This study provides a comprehensive approach to the size-and-small-business-lending issue by: (a) providing a long run perspective by framing the discussion in the context of recent significant contributions by economic historians; (b) considering a wide range of both theoretical and empirical literature on bank-borrower relationships and related issues; and (c) analyzing the relation by applying simultaneous equations techniques covering the period both before and after the bank consolidation induced by the 2007-2009 financial crisis. We attempt to identify and estimate a supply curve of small business credit for all US banks for this period.


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  • Subject
    • Business

  • Date submitted

    19 July 2022

  • Keywords
  • Additional information
    • Author Biography:

      Dr. Murdock is an Associate Professor of Finance at the Mike Cottrell College of Business at the University of North Georgia. She teaches courses in corporate finance, financial institutions, financial policy and personal finance. Dr. Murdock’s research covers a variety of topics, including effects of corporate restructuring on shareholders’ value, banks’ propensity to lend to small businesses, and various aspects of international finance. In her previous career, Maryna Murdock worked as a foreign trade department manager in a bank. She received her Ph. D. in finance from Florida Atlantic University.