Skip to main content
SpringerLink
Log in
Book cover

Regulation and Deregulation in European Financial Services pp 105–132Cite as

Palgrave Macmillan

Bank Finance for Small and Medium-sized Enterprises in Germany and France

  • Chapter

Abstract

During the 1980s and 1990s, the relationship between banks and non-financial companies in most European countries has been affected by the expansion of international financial markets. Their emergence allowed non-financial companies to directly access money and capital markets and thereby undermined the intermediation role which banks traditionally held in many countries. Furthermore, many national governments have taken policy actions to remove regulations which formerly protected financial markets from international competition (Canals, 1993).

We would like to thank the bank managers whom we interviewed for their cooperation and the CNRS for financial support for our research in France. The interviews in Germany were carried out together with Brent Keltner, RAND. A first version of this chapter was presented at the EMOT workshop on Financial Services held in Paris, September 1994, and was published in the discussion paper series of the Wissenschaftszentrum, Berlin (see Quack and Hildebrandt, 1995a). The current article has been considerably revised and also includes new empirical material. The authors have benefited from careful comments on earlier drafts by Bernard Ganne, Michel Goyer, John Griffin, Christel Lane, Glenn Morgan and Jacqueline O’Reilly. We are also grateful to Sabine Hark and Ricos Thanopoulos for discussions which helped to clarify the argument.

This is a preview of subscription content, log in via an institution.

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD   109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD   109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • AFB (Association Française des Banques), 10 années qui ont marqué le monde bancaire 1980–1990. Rapport annuel 1989. (Paris: AFB, 1990) p. 45.

    Google Scholar 

  • J.-F. Allegret and J.-F. Goux (eds), Système financier et système productif, Cahiers Monnaie et Financement, 23. (Lyon: Centre de recherche Monnaie-Finance-Banque, 1994).

    Google Scholar 

  • P. Artus, ‘Les banques, les assurances et le financement de l’ économie’, Les cahiers français, Banques et assurances, 252 (1991) pp. 34–9.

    Google Scholar 

  • Banque de France, Statistiques monétaires et financières annuelles, 1992. (Paris: Banque de France, 1993) p. 513.

    Google Scholar 

  • Banque de France, Statistiques monétaires et financières annuelles, 1993. (Paris: Banque de France, 1995) p. 437.

    Google Scholar 

  • P. Birnbaum, Les sommets de l’Etat. Essai sur l’élite du pouvoir en France. (Paris: Editions du Seuil, 1977) p. 186.

    Google Scholar 

  • A. Bizaguet, Les petites et moyennes entreprises, Que sais-je? 2642. (Paris: PUF, 1991) p. 127.

    Google Scholar 

  • C. de Boissieu (ed.), Banking in France. (London: Routledge, 1990) p. 190.

    Google Scholar 

  • P. Bourdieu, La Noblesse d Etat. (Paris: Edition de Minuit, 1989) p. 568.

    Google Scholar 

  • J.L. Campbell, J.R. Hollingsworth and L.N. Lindberg, Governance of the American Economy. (Cambridge: Cambridge University Press, 1991) p. 441.

    Book  Google Scholar 

  • J. Canals, Competitive Strategies in European Banking. (Oxford: Clarendon Press, 1993) p. 284.

    Google Scholar 

  • W. Carlin and C. Mayer, ‘Structure and Ownership in East German Enterprises’, Discussion Paper FS I 95–305. Wissenschaftszentrum Berlin für Sozialforschung, Berlin (1995) p. 27.

    Google Scholar 

  • CEPME (Crédit d’Equipement des Petites et Moyennes Entreprises), ‘Dossier P.M.E.’, CEPME Service des études, Paris (1993) p. 32.

    Google Scholar 

  • G. Chanel-Reynaud, ‘Les conditions réelles de la réussite de la réforme financière’, in J.-F. Allegret and J.-F. Goux (eds), (1994) pp. 19–49.

    Google Scholar 

  • G. Chanel-Reynaud, S. Cieply, A. Clerc, C. Mercier and D. Saby (eds), Réforme financière et transformations des entreprises, Collection Les chemins de la recherche, 30. (Lyon: Centre Jacques Cartier, 1995).

    Google Scholar 

  • S. Cieply, ‘Nouveaux modes de financement et transmission des entreprises’, mimeo, Mémoire du D.E.A. Lyon, Centre de recherche Monnaie-Finance-Banque (1993) p. 265.

    Google Scholar 

  • S. Cieply, ‘Impact de la réforme financière sur la structuration de l’ industrie française: l’ histoire de l’ émergence et de la propagation d’une contrainte financière’, in G. Chanel-Reynaud et al. (eds), (1995) pp. 53–86.

    Google Scholar 

  • CNC (Conseil National du Crédit), Les garanties et le crédit aux entreprises. (Paris: CNC, 1993a) p. 271.

    Google Scholar 

  • CNC (Conseil National du Crédit), Indices du développement des OPCVM sur l’activité des établissements de crédit. (Paris: CNC, 1993b) p. 135.

    Google Scholar 

  • CNCA (Caisse Nationale de Crédit Agricole), Observatoire Entreprises. (Paris: CNCA, 1993) p. 113.

    Google Scholar 

  • D. Conner, ‘Top Twenty Take to Travel’, The Banker, 49 (1994) pp. 49–52.

    Google Scholar 

  • A. Cox, ‘State, Finance and Industry in Comparative Perspective’, in A. Cox (ed.), (1986) pp. 1–59.

    Google Scholar 

  • A. Cox (ed.), State, Finance and Industry. A Comparative Analysis of Post-War Trends in Six Advanced Industrial Economies. (Brighton: Wheatsheaf, 1986).

    Google Scholar 

  • E.P. Davis, ‘Wither Corporate-Banking Relations?’, in K. Hughes (1993) pp. 85–107.

    Google Scholar 

  • R. Deeg, ‘Banks and the State in Germany: The Critical Role of Subnational Institutions in Economic Governance’, mimeo, Cambridge, Mass., MIT (1992) p. 525.

    Google Scholar 

  • R. Deeg, ‘Banking in the East: The Political Economy of Investment in Eastern Germany’, Discussion Paper FS I 94–303, Wissenschaftszentrum Berlin für Sozialforschung, Berlin (1994) p. 47.

    Google Scholar 

  • Deutsche Bundesbank, Statistische Beihefte zu den Monatsberichten der Deutschen Bundesbank, Reihe 1, Bankenstatistik nach Bankengruppen (Frankfurt a.M., 1981, 1986, 1993, 1994).

    Google Scholar 

  • Deutsche Bundesbank, ‘Längerfristige Entwicklung der Finanzierungsstrukturen westdeutscher Unternehmen’, Monatsberichte der Deutschen Bundesbank, October (1992a) pp. 25–39.

    Google Scholar 

  • M. Dietsch, ‘Des relations banques entreprises exemplaires’, La Revue Banque, 538 (1993) pp. 42–4.

    Google Scholar 

  • DSGV (Deutscher Sparkassen- und Giroverband), Jahresbericht. (Bonn: DSGV, 1993) p. 137.

    Google Scholar 

  • P. Dubois and D. Linhart, ‘Industrial Networks and Corporate Cultures. The French Case’, in S. Mako and P. Novoszath (eds) (1994) pp. 63–89.

    Google Scholar 

  • D. Duet, Les caisses d’épargne, Que sais-je? 2582. (Paris: PUF, 1991) p. 126.

    Google Scholar 

  • I. Ellgering, ‘Aspekte zu künftigen Anforderungen an das Firmenkundengeschäft der Sparkassen und Landesbanken’, in K. Juncker and E. Priewasser (eds) (1993) pp. 775–91.

    Google Scholar 

  • J. Elston, ‘Firm Ownership Structure and Investment: Theory and Evidence from German Panel Data’, Discussion Paper FS IV 93-28, Wissenschaftszentrum Berlin für Sozialforschung, Berlin (1993) p. 43.

    Google Scholar 

  • R. Friedland and R.R. Alford, ‘The Public Order and the Construction of Formal Organizations’, in W.W. Powell and P.J. DiMaggio (eds) (1991) pp. 232–65.

    Google Scholar 

  • B. Ganne, A. Michelson, D. Navell and P. Totterdill, PME et systèmes industriels locaux entre l’ internalisation de l’ économie et les politiques d’aides au développement en France, en Italie et en Grande-Bretagne, Rapport final du Contrat PPSH 60 C. (Lyon: Groupe Lyonnais de Sociologie Industrielle, 1993) p. 163.

    Google Scholar 

  • E.P. Gardener and P. Molyneux, Changes in Western European Banking. An International Banker’s Guide. (London: Routledge, 1990) p. 300.

    Google Scholar 

  • M. Granovetter, ‘Economic Action and Social Structure: The Problem of Embeddedness’, The American Journal of Sociology, 91, 3 (1985) pp. 481–510.

    Article  Google Scholar 

  • J.R. Griffin, ‘Investment and Ownership in a Volatile Economy: German Banks and the Case of East German Privatization’, mimeo, Department of Political Science, MIT, Cambridge, Mass. (1993) p. 40.

    Google Scholar 

  • C. Harms, ‘The Financing of Small Firms in Germany’, Working Paper, The World Bank, Washington (1992) p. 35.

    Google Scholar 

  • J.R. Hollingsworth, P.C. Schmitter and W. Streeck, Governing Capitalist Economies. Performance and Control of Economic Sectors. (New York: Oxford University Press, 1994) p. 316.

    Google Scholar 

  • F. Homé, ‘Les relations banques entreprises en République Fédérale D’Allemagne’, La Revue Banque, 513 (1991) pp. 170–5.

    Google Scholar 

  • K. Hughes, The Future of UK Competitiveness and the Role of Industrial Policy. (London: Policy Studies Institute, 1993).

    Google Scholar 

  • R. Jepperson and J.W. Meyer, ‘The Public Order and the Construction of Formal Organizations’, in W.W. Powell and P.J. DiMaggio (eds) (1991) pp. 204–31.

    Google Scholar 

  • K. Juncker and E. Priewasser (eds), Handbuch Firmenkundengeschäft. (Frankfurt a.M.: Fritz Knapp, 1993).

    Google Scholar 

  • C. Kadushin, ‘Friendship among the French Financial Elite’, American Sociological Review, 60, April (1995) pp. 202–21.

    Article  Google Scholar 

  • U. Kirchhoff, ‘Wachsender Wettbewerb der Kreditwirtschaft um mittelständische Unternehmen’, Die Sparkasse, 8 (1990) pp. 353–60.

    Google Scholar 

  • U. Kirchhoff and C. Bauer, ‘Neuorientierung des Firmenkundengeschäfts in den Sparkassen’, Die Sparkasse, 4 (1994) pp. 174–80.

    Google Scholar 

  • C. Lane, Management and Labour in Europe. The Industrial Enterprise in Germany, Britain and France. (Aldershot: Elgar, 1989) p. 328.

    Google Scholar 

  • C. Lane, ‘Industrial Reorganization in Europe: Patterns of Convergence and Divergence in Germany, France and Germany’, Work, Employment and Society, 5, 4 (1991) pp. 515–39.

    Article  Google Scholar 

  • C. Lane, Industry and Society in Europe. Stability and Change in Germany, Britain and France. (Aldershot: Elgar, 1995) p. 236.

    Google Scholar 

  • C. Lane and R. Bachmann, ‘Risk, Trust and Power: The Social Constitution of Supplier Relations in Britain and Germany’, Working Paper Series, WP 5, ESCR Centre for Business Research, Cambridge (1995) p. 53.

    Google Scholar 

  • S. Mako and P. Novoszath (eds), Convergence versus Divergence. (Budapest: Hungarian Academy of Sciences and Communication and Consultation, 1994).

    Google Scholar 

  • L. Matray, ‘L’ impérieuse nécessité, des fonds propres’, Revue d’Economie Financière, (1992) pp. 3–27.

    Google Scholar 

  • M. Maurice, F. Sellier and J.-J. Silvestre, The Social Foundation of Industrial Power. A Comparison of France and Germany. (Cambridge, Mass./London: MIT Press, 1986) p. 292.

    Google Scholar 

  • OECD (Organization for Economic Cooperation and Development), Insurance and other Financial Services. Structural Trends. (Paris: OECD, 1992) p. 156.

    Google Scholar 

  • OECD (Organization for Economic Cooperation and Development), Bank Profitability. Financial Statements of Banks 1984–1993. (Paris: OECD, 1995) p. 196.

    Google Scholar 

  • C. Oellerking and M. Holzgrabe, Sparkassen und Genossenschaftsbanken im Spannungsverhältnis zwischen Moral und ökonomie: Strukturelemente, Organisationsgrundsätze und Geschäftspolitik. (Frankfurt a.M./Bern/New York: Peter Lange, 1990) p. 252.

    Google Scholar 

  • J. O’Reilly, Banking on Flexibility. A Comparison of Flexible Employment in Retail Banking in Britain and France. (Aldershot: Avebury, 1994) p. 297.

    Google Scholar 

  • W.W. Powell, ‘Expanding the Scope of Institutional Analysis’, in W.W. Powell and P.J. DiMaggio (eds), (1991) pp. 183–203.

    Google Scholar 

  • W.W. Powell and P.J. DiMaggio (eds), The New Institutionalism in Organizational Analysis. (Chicago: University of Chicago Press, 1991).

    Google Scholar 

  • S. Quack and S. Hildebrandt, ‘Hausbank or Fournisseur? Bank Services for Small and Medium Sized Enterprises in Germany and France’, Discussion Paper FS I 95–102, Wissenschaftszentrum Berlin für Sozialforschung, Berlin (1995a) p. 23.

    Google Scholar 

  • S. Quack and S. Hildebrandt, ‘Das Geheimnis der Banken. Zum Einfluß von Organisationsstrukturen und Personalpolitiken deutscher und französischer Kreditinstitute im mittelständischen Unternehmensgeschäft’, Discussion Paper FS I 95–103, Wissenschaftszentrum Berlin für Sozialforschung, Berlin (1995b) p. 36.

    Google Scholar 

  • S. Quack, J. O, Reilly and S. Hildebrandt, ‘Structuring Change: Training and Recruitment in Retail Banking in Germany, Britain and France’, International Journal of Human Resource Management, 6, 4 (1994) pp. 779–814.

    Google Scholar 

  • L.M. de Quillacq, The Power Brokers: An Insider’s Guide to the French Financial Elite. (Dublin: Lafferty Publications, 1992) p. 506.

    Google Scholar 

  • P. de Saint-Louvent, Analyse de la perception de l’offre bancaire par les Petites et Moyennes Entreprises en Grande-Bretagne, Allemagne et France. (Paris: Bossard Consultant, 1991) p. 267.

    Google Scholar 

  • P. de Saint-Louvent, ‘La perception de l’offre bancaire par les PME. Synthèse du rapport au Conseil National du Crédit’, Banque Strategie, 80 (1992) pp. 11–14.

    Google Scholar 

  • W.R. Scott, ‘Unpacking Institutional Arguments’, in W.W. Powell and P.J. DiMaggio (eds) (1991) pp. 164–82.

    Google Scholar 

  • A. Sorge, ‘Strategic Fit and the Societal Effect: Interpreting Cross-national Comparisons of Technology, Organization and Human Resources’, Organization Studies, 12, 2 (1991) pp. 161–90.

    Article  Google Scholar 

  • A. Sorge, ‘Cross-national Differences in Personnel and Organization’, in A.-W. Harzing and J. van Ruysseveldt (eds), International Human Resource Management. An Integrated Approach. (London: Sage, 1995) pp. 99–123.

    Google Scholar 

  • A. Sorge and M. Warner, Comparative Factory Organisation: An Anglo-German Comparison of Manufacturing, Management and Manpower. (Aldershot: Gower, 1986) p. 229.

    Google Scholar 

  • F. Stokman, R. Ziegler and J. Scott (eds), Networks of Corporate Power: A Comparative Analysis of Ten Countries. (Cambridge: Polity Press, 1985).

    Google Scholar 

  • W. Streeck, Social Institutions and Economic Performance. Studies of Industrial Relations in Advanced Capitalist Economies. (London: Sage, 1992) p. 248.

    Google Scholar 

  • E. Suleiman, Elites in French Society: The Politics of Survival. (Princeton, NJ: Princeton University Press, 1978) p. 299.

    Google Scholar 

  • D. Swartz, ‘French Interlocking Directorships: Financial and Industrial Groups’, in F. Stokman, R. Ziegler and J. Scott (eds), (1985) pp. 184–9.

    Google Scholar 

  • P. Taillepied and C. de Bressieux, ‘Le financement de l’ économie entre 1980 et 1992’, Les notes bleues de Bercy, 30, Paris (1994) p. 30.

    Google Scholar 

  • P. Tolbert, ‘Institutional Sources of Organizational Culture in Large Law Firms’, in L.G. Zucker (ed.) (1988) pp. 101–13.

    Google Scholar 

  • S. Vitols, ‘German Banks and the Modernization of the Small Firm Sector: Longterm Finance in Comparative Perspective’, Discussion Paper FS I 95–309, Wissenschaftszentrum Berlin für Sozialforschung, Berlin (1995a) p. 25.

    Google Scholar 

  • S. Vitols, ‘Financial Systems and Industrial Policy in Germany and Great Britain: The Limits of Convergence’, Discussion Paper FS I 95–311, Wissenschaftszentrum Berlin für Sozialforschung, Berlin (1995b) p. 36.

    Google Scholar 

  • R. Whitley (ed.), European Business Systems. (London: Sage, 1992).

    Google Scholar 

  • R. Whitley, ‘Societies, Firms, and Markets: The Social Structuring of Business Systems’, in R. Whitley (ed.), (1992) pp. 5–45.

    Google Scholar 

  • D. Zerah, Le système financier français. Dix ans de mutations. (Paris: La Documentation Française, 1993) p. 294.

    Google Scholar 

  • L.G. Zucker (ed.), Institutional Patterns and Organizations. (Cambridge, Mass.: Ballinger, 1988).

    Google Scholar 

  • J. Zysman, Governments, Markets and Growth. Financial Systems and the Politics of Industrial Change. (Oxford: Martin Robertson, 1983) p. 358.

    Google Scholar 

Download references

Authors
  1. Sigrid Quack
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Swen Hildebrandt
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. Manchester Business School, University of Manchester, UK

    Glenn Morgan (Lecturer in Management) (Lecturer in Management)

  2. Manchester School of Management, UMIST, UK

    David Knights (Professor of Organizational Analysis and Director of the Financial Services Research Centre) (Professor of Organizational Analysis and Director of the Financial Services Research Centre)

Copyright information

© 1997 Sigrid Quack and Swen Hildebrandt

About this chapter

Cite this chapter

Quack, S., Hildebrandt, S. (1997). Bank Finance for Small and Medium-sized Enterprises in Germany and France. In: Morgan, G., Knights, D. (eds) Regulation and Deregulation in European Financial Services. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-14000-8_6

Download citation

Publish with us

Policies and ethics

Search

Navigation