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Why do borrowers pledge collateral? New empirical evidence on the role of asymmetric information
Berger, Allen N.; Espinosa-Vega, Marco A.; Frame, W. Scott - 2007
An important theoretical literature motivates collateral as a mechanism that mitigates adverse selection, credit … incidence of collateral. We exploit exogenous variation in lender information related to the adoption of an information … technology that reduces ex ante private information, and compare collateral outcomes before and after adoption. Our results are …
Persistent link: https://www.econbiz.de/10010292292
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Economics of voluntary information sharing
Liberti, José; Sturgess, Jason; Sutherland, Andrew - 2018
We show that lenders join a U.S. commercial credit bureau when information asymmetries between incumbents and entrants create an adverse selection problem that hinders market entry. Lenders also delay joining when information asymmetries protect them from competition in existing markets,...
Persistent link: https://www.econbiz.de/10012144221
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Strategic Competition in Swedish Local Spending on Childcare, Schooling and Care for the Elderly
Edmark, Karin - 2007
This study tests for strategic competition in public spending on childcare and primary education, and care for the elderly, using panel data on Swedish municipalities over 1996-2005. The high degree of decentralization in the organization of the public sector implies that Swedish data is highly...
Persistent link: https://www.econbiz.de/10010321619
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Strategic competition in Swedish local spaneding on childcare, schooling and care for the elderly
Edmark, Karin - 2007
This study tests for strategic competition in public spending on childcare and primary education, and care for the elderly, using panel data on Swedish municipalities over 1996-2005. The high degree of decentralization in the organization of the public sector implies that Swedish data is highly...
Persistent link: https://www.econbiz.de/10010317929
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The impact of microfinance on factors empowering women: Differences in regional and delivery mechanisms in India's SHG programme
Swain, Ranjula Bali; Wallentin, Fan Yang - 2014
We examine how the impact on women empowerment varies with respect to the location and type of group linkage of the respondent. Using household survey data from five states in India, we correct for selection bias to estimate a structural equation model. Our results reveal that in the southern...
Persistent link: https://www.econbiz.de/10011396727
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Análisis espacial del sistema financiero en aglomerados urbanos: El caso de la Ciudad Autónoma de Buenos Aires
Denes, Andrés; Repetto, Gastón - 2015
Persistent link: https://www.econbiz.de/10011417930
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Collateral Damaged? Priority Structure, Credit Supply, and Firm Performance
Cerqueiro, Geraldo; Ongena, Steven; Roszbach, Kasper - 2019
A unique legal reform in 2004 in Sweden redistributed collateral rights from banks holding floating liens to unsecured …, we document that a zero-sum redistribution of collateral rights and the resulting reduction in collateral capacity …
Persistent link: https://www.econbiz.de/10012143946
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BankCaR (Bank Capital-at-Risk): A credit risk model for US commercial bank charge-offs
Frye, Jon; Pelz, Eduard - 2008
BankCaR is a credit risk model that forecasts the distribution of a commercial bank's charge-offs. The distribution depends only on systematic factors; BankCaR takes each bank and projects its expected charge-off across a distribution of good years and bad years. Since most bank failures occur...
Persistent link: https://www.econbiz.de/10010292167
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Finanzierungsverhalten (von Banken) bei Schiffsfinanzierungen 'vor und nach Finanzkrise'
Küster Simic, André; Endert, Volker - 2008
Die aktuelle Finanzkrise, die einen Höhepunkt im Zusammenbruch der Investmentbank Lehmann Brothers fand, zeigt immer deutlichere Auswirkungen auf die Realwirtschaft außerhalb des Bankensektors. Durch diese Krise haben sich im Bankensektor zunehmende Liquiditätsschwierigkeiten entwickelt, die...
Persistent link: https://www.econbiz.de/10010302752
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Structure and determinants of financial covenants in leveraged buyouts - evidence from an economy with strong creditor rights
Achleitner, Ann-Kristin; Braun, Reiner; Tappeiner, Florian - 2009
We apply control rights theory to explain the structure and determinants of financial covenants in private equity backed leveraged buyouts. We analyze 130 German transactions from 2000 to 2008, covering about 40 percent of the LBO market during this period. We consider Germany to be a superior...
Persistent link: https://www.econbiz.de/10010305733