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The Limits of Lending : Banks and Technology Adoption Across Russia
Bircan, Cagatay; de Haas, R. - Tilburg University, Center for Economic Research - 2015
credit constraints on firm-level innovation. We find that access to bank credit helps firms to adopt existing products and … acquiring external know-how. We find no evidence that bank credit also stimulates firm innovation through in-house R&D. This …
Persistent link: https://www.econbiz.de/10011193657
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Prescribing Behavior of General Practitioners : Competition Matters!
Schaumans, C.B.C. - Tilburg University, Center for Economic Research - 2014
Background: General Practitioners have limited means to compete. As quality is hard to observe by patients, GPs have incentives to signal quality by using instruments patients perceive as quality.<br/>Objectives: We investigate whether GPs exhibit different prescribing behavior (volume and value of...
Persistent link: https://www.econbiz.de/10011144447
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Reducing Rents from Energy Technology Adoption Programs by Exploiting Observable Information
Aalbers, R.F.T.; Vollebergh, H.R.J.; de Groot, H.L.F. - Tilburg University, Center for Economic Research - 2011
exploiting readily observable information to limit rent extraction by firms. Using panel data on 862 investment decisions in the …
Persistent link: https://www.econbiz.de/10011091586
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Show me yours and I'll show you mine : Sharing borrower information in a competitive credit market
de Haas, R.T.A.; Bos, J.; Millone, Matteo - Tilburg University, Center for Economic Research - 2015
We exploit detailed data on approved and rejected small business loans to assess the impact of the introduction of a credit registry in Bosnia and Herzegovina. Our findings are threefold. First, mandatory information sharing tightens lending at the extensive margin as more applications are...
Persistent link: https://www.econbiz.de/10011273894
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Mobile Money, Trade Credit and Economic Development : Theory and Evidence
Beck, Thorsten; Uras, Burak R.; Pamuk, H.; Ramrattan, R. - Tilburg University, Center for Economic Research - 2015
Using a novel enterprise survey from Kenya (FinAccess Business), we document a strong positive association between the use of mobile money as a method to pay suppliers and access to trade credit. We develop a dynamic general equilibrium model with heterogeneous entrepreneurs, imperfect credit...
Persistent link: https://www.econbiz.de/10011245989
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Bank Systemic Risk-Taking and Loan Pricing : Evidence from Syndicated Loans
Gong, D. - Tilburg University, Center for Economic Research - 2014
loan spreads, controlling for firm, loan and bank specific variables. We argue that the underpricing of systematic risk …
Persistent link: https://www.econbiz.de/10011144449
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Information Sharing and Information Acqusition in Credit Markets
Karapetyan, A.; Stacescu, B. - Tilburg University, Center for Economic Research - 2009
Since information asymmetries have been identified as an important source of bank profits, it may seem that the … for borrower switching. We test our theory using firm-level data from 24 countries. …
Persistent link: https://www.econbiz.de/10011092575
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Are Banks Too Big to Fail or Too Big to Save? International Evidence from Equity Prices and CDS Spreads
Huizinga, Harry P.; Demirgüc-Kunt, A. - Tilburg University, Center for Economic Research - 2010
. For an international sample of banks, this paper investigates the impact of government indebtedness and deficits on bank … stock prices and CDS spreads. Overall, bank stock prices reflect a negative capitalization of government debt and they … valuation in countries running large fiscal deficits. Furthermore, the change in bank CDS spreads in 2008 relative to 2007 …
Persistent link: https://www.econbiz.de/10011092586
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Tranching in the Syndicated Loan Market
Cumming, D.; McCahery, J.A.; Schwienbacher, A. - Tilburg University, Center for Economic Research - 2011
We use data comprising over 100,000 loans from 115 countries during 1995-2009 to examine factors that affect the extent of loan tranching, and the range of tranche spreads. The data show five factors that drive them: asymmetric information, borrower risk, transaction costs, the presence of...
Persistent link: https://www.econbiz.de/10011092615
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Did Prepayments Sustain the Subprime Market?
Bhardwaj, G.; Sengupta, R. - Tilburg University, Center for Economic Research - 2009
This paper demonstrates that the reason for widespread default of mortgages in the subprime market was a sudden reversal in the house price appreciation of the early 2000's. Using loan-level data on subprime mortgages, we observe that the majority of subprime loans were hybrid adjustable rate...
Persistent link: https://www.econbiz.de/10011092628