market equilibria in which cheap credit is inappropriately emphasized over project screening. Restrictions on collateral …Many economists argue that the primary economic function of banks is to provide cheap credit, and to facilitate this … requirements and the protection of debtors in bankruptcy proceedings may redress this imbalance and increase credit …

collateral requirements by banks may lead to a further decrease in the level of economic efficiency attained. We discuss bank …

lender to leave surplus to borrowers, which distorts the local lender’s credit decision in the sense that she inefficiently … rejects marginally profitable projects. Collateral mitigates this inefficiency by 'flattening' the local lender’s payoff … technological innovations such as small business credit scoring that narrow the information advantage of local lenders vis …

This paper provides new insights into the nature of relationship lending by analysing the role of collateral and its … real effects with respect to workout activities. We use a unique data set based on the credit files of five leading German … banks, thus relying on real information used in the process of bank credit decision-making. In particular, risk assessment …

bidders are more concerned with the loser’s nightmare, collateral, and future interest rate reductions by the ECB. Small and …

Tobin’s q model predicts that credit protection reduces the probability of oscillations between binding and nonbinding … states of the credit constraint, which result from liquidity crises and their aftermath. In this way creditor protection … liquidity are used as a forecast of a switch from a credit–unconstrained to a credit-constrained regime. We find support for the …