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Economics of bankruptcy exemption: Signaling value of collateral, cost of credit and access to credit
Arca, P.; Atzeni, G.; Deidda, L. - Centro Ricerche Nord Sud (CRENoS) - 2013
We analyze the effect of a bankruptcy law according to which some of the borrower’s assets are exempt from liquidation in the event of default in the context of a competitive credit market characterized either by moral hazard (MH) or by adverse selection (AS). In particular, we study how the...
Persistent link: https://www.econbiz.de/10010860652
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Banks, Financial Markets and Growth
Deidda, LG.; Fattouh, B. - Centro Ricerche Nord Sud (CRENoS) - 2005
monitoring and screening.We show that,if a market is established characterized by a disclosure law such that entrepreneurs … screen,even when screening is effcient.Correspondingly,other things being equal,the change from a bank-based system to one in …
Persistent link: https://www.econbiz.de/10005015425