Long-term financial contracts in the bank-orientated financial system
The influence of various neo-institutional and neo-classical theories has caused modern research in financial history to focus on the organization of bank-firm relationships. The relationship between a given bank and a given firm has been viewed in terms of a series of explicit contracts that are entered into, and then renewed, as the parties engage in transactions over time. Up to now research in economics utilizing contract theory has either dealt with the relationship between two non-financial firms or it has covered too short a period to qualify as economic history. There is thus much to be gained from analysing different types of financial contract between banks and industry, thereby complementing the existing picture of the organization of financial relations with longitudinal studies and more systematic information.
Year of publication: |
1994
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Authors: | Sjögren, Hans |
Published in: |
Scandinavian Journal of Management. - Elsevier, ISSN 0956-5221. - Vol. 10.1994, 3, p. 315-330
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Publisher: |
Elsevier |
Keywords: | Financial system contract theory institutional theory long-term contract credit relationship |
Saved in:
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