Fall of dwarfs: micro and macroeconomic determinants of the disappearance of European small banks
基于2005-2022年27个欧洲国家银行样本，检验微观和宏观经济变量对小银行退出市场概率的影响，发现宏观经济和社会人口背景的预测效力与会计变量相当，尤其考虑地方传染效应时。
Based on a wide sample of banks headquartered in 27 European countries over the period 2005–2022, this paper tests the influence that microeconomic and macroeconomic variables have on the probability of small banks exiting the market, evaluating the predictive power of the explanatory models employed. Our approach to the determinants of small banks’ exit proves that even the macroeconomic and socio-demographic reference context can have a predictive effectiveness similar to that of the accounting variables, especially when contagion effects at the local level are taken into account.