Showing 1 - 10 of 19
innovations, using a version of the Kiyotaki and Moore [1997] model of credit cycles. Results are: patents as collateral leverage …
Persistent link: https://www.econbiz.de/10009021740
This paper studies how credit rationing affects endogenous growth when capital and debt are related to the firm …
Persistent link: https://www.econbiz.de/10010750394
This paper provides the explicit expression of investment facing a binding debt ceiling and the explicit expression of the Lagrange multipliers related to the binding debt ceiling constraint. This result allows to check for misspecification of the parameterizations of these Lagrange multipliers...
Persistent link: https://www.econbiz.de/10010750720
The question of leasing credit as a substitute or complement of a banking loan has still not been resolved in the … characteristics of firms using leasing credit and on the other hand, to better understand the relationship between leasing and credit … credit rationing and the use of leasing. In this framework the latter appears to be a last resort financing. …
Persistent link: https://www.econbiz.de/10010750928
This paper provides a theory for the choice of an organizational structure by the headquarters of a unitary structure concerned about overload. The headquarters can avoid overload by delegating operational decisions to divisions, i.e., moving the firm to a multidivisional structure. We show...
Persistent link: https://www.econbiz.de/10008791162
The volume of credit granted in the form of syndicated loans saw a marked downturn in 2008. This article seeks to …
Persistent link: https://www.econbiz.de/10008793506
according to a four-case typologyof credit rationing. It appears, inter alia, that a majority of firms is not facing credit …
Persistent link: https://www.econbiz.de/10008793651
innovations, using a version of the Kiyotaki and Moore [1997] model of credit cycles. Results are: patents as collateral leverage …
Persistent link: https://www.econbiz.de/10008794903
In their celebrated contribution on credit rationing, Stiglitz and Weiss (1981) showed that the expected return to the … to be decreasing in risk, thus eliminating adverse selection. Whether credit rationing can obtain or not is then shown to …
Persistent link: https://www.econbiz.de/10008836792
This paper considers an infinite-horizon monetary economy with collateralized assets. A Central BanK lends money to households by creating short- and long-term loans. Households can deposit or borrow money on both short- and long-term maturity loans. If households want to sell a financial asset,...
Persistent link: https://www.econbiz.de/10011026009