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The research shows that banking relationships are important to lending. However, few studies focus on the banking relationships in syndicated loans, although these loans have became a major source of financing. The last financial crisis clearly shows the impacts of credit rationing and...
Persistent link: https://www.econbiz.de/10010960595
The volume of credit granted in the form of syndicated loans saw a marked downturn in 2008. This article seeks to understand how certain firms were nonetheless able to benefit from larger facilities or a lower interest rate than others. Using a sample of syndicated loans issued in 2008 in North...
Persistent link: https://www.econbiz.de/10010707257
This thesis first presents India’s economy and financial system’s recent history and current issues. Then, with an emphasis on the recent turmoil period, it studies the question of financial integration in various markets: equity markets are dealt with in the 1st chapter, CDS spreads are...
Persistent link: https://www.econbiz.de/10011212049
Financial theory indicates that banks dependent on external resources and/or financially fragile have more difficulties in refinancing their operations of credit supply, due to the informational problems they face and/or they cause. In this context, this study tests the hypothesis that the...
Persistent link: https://www.econbiz.de/10011072061
The recommendations of Basel II impose to banks the use of the "hard" information in the decision making process of SMEs loans. These banks must choose between replacing the "soft" information, already used, by the "hard" information and combining the two forms of information. This thesis...
Persistent link: https://www.econbiz.de/10011074623
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 that...
Persistent link: https://www.econbiz.de/10010707148
We explore which financial constraints matter the most in the choice of becoming an entrepreneur. We consider a randomly assigned welfare program in rural Mexico and show that cash transfers signi cantly increase entry into entrepreneurship. We then exploit the cross-household variation in the...
Persistent link: https://www.econbiz.de/10011166491
This paper contributes to the crucial problem of LIBOR malfunctioning due to its manipulation by banks, a phenomenon described clearly in the FSA Inquiry Report published in September 2012. After applying classical tests of non-stationarity to a series of participating banks’ LIBOR quotes, we...
Persistent link: https://www.econbiz.de/10011115218
Is the impact of financial development on international trade heterogeneous – being positive, negative or null – across manufacturing sectors? And is it dependent on the level of sectoral requirement on external finance for capital need? To examine these questions this article uses a panel...
Persistent link: https://www.econbiz.de/10010779374
The purpose of this article is to analyse the efficiency of the repayment incentive mechanisms used for individual microcredit, the guarantor mechanism in particular. Little academic research has been devoted to this instrument whereas it is very frequently used. Churchill (1999) notably...
Persistent link: https://www.econbiz.de/10010861398