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Financial Frictions, Bubbles, and Macroprudential Policies
Derviz, Alexis - Česká Národní Banka - 2011
manifested in a convex dependence of bank capital requirements on the quantity of uncollateralized credit. We find that this kind …
Persistent link: https://www.econbiz.de/10009322475
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Use of Collateral in the Argentine Banking System
Bebczuk, Ricardo; Sangiácomo, Máximo - In: Ensayos Económicos 1 (2010) 59, pp. 131-166
The paper investigates the use of collateral in the Argentine banking system by exploiting a rich dataset administered by the Central Bank (Central de Deudores). The study focuses on commercial loans to firms with balance sheet information available over the 2001-2005 period. The first part...
Persistent link: https://www.econbiz.de/10010551950
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The Emergence of Information Sharing in Credit Markets
Brown, Martin; Zehnder, Christian - Schweizerische Nationalbank (SNB) - 2008
We examine how asymmetric information and competition in the credit market affect voluntary information sharing between … lenders. We study an experimental credit market in which information sharing can help lenders to distinguish good borrowers … credit market increases the frequency of information sharing between lenders significantly. Competition between lenders …
Persistent link: https://www.econbiz.de/10005069893
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The Emergence of Information Sharing in Credit Markets
Brown, Martin; Zehnder, Christian - Schweizerische Nationalbank (SNB) - 2008
We examine how asymmetric information and competition in the credit market affect voluntary information sharing between … lenders. We study an experimental credit market in which information sharing can help lenders to distinguish good borrowers … credit market increases the frequency of information sharing between lenders significantly. Competition between lenders …
Persistent link: https://www.econbiz.de/10008925050
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Borrower and Lender Reputation Effects: A New Theory of Financial Intermediation.
Bijapur, M. - Business School, University of Exeter - 2000
This paper formulates a new theory of financial intermediation and explains the general structure of credit markets …. Borrowers without established credit histories have incentives to repudiate their debt obligations, and are therefore unable to …
Persistent link: https://www.econbiz.de/10008852387
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Sharing Default Information as a Borrower Discipline Device.
Padilla, A.J.; Pagano, M. - Centro de Estudios Monetarios y Financieros (CEMFI) - 1999
Creditors often share information about their customers' credit records. Besides helping them to spot bad risks, this … default on one lender would disrupt their credit rating with all the other lenders. This increases their incentive to perform …
Persistent link: https://www.econbiz.de/10005625786
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Endogenous Communication Among Lenders and Entrepreneurial Incentives
Padilla, Atilano Jorge; Pagano, Marco - C.E.P.R. Discussion Papers - 1996
When banks have an informational monopoly about their borrowers, the latter incentives can be thwarted by the fear that the return on their effort will be partly appropriated by their banks via high future interest rates. Banks can correct this incentive problem through a commitment to share...
Persistent link: https://www.econbiz.de/10005124286
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The strategic behavior of banks during a financial crisis; evidence from the syndicated loan market
de Haas, Ralph; van Horen, Neeltje - Volkswirtschaftliche Fakultät, … - 2009
We examine the strategic reaction of banks to the current global financial crisis. In particular, we test whether banks predominantly react by diversifying their loan portfolio or by stepping up their screening and monitoring. To this end we analyze information on nearly 17,000 syndicated loans...
Persistent link: https://www.econbiz.de/10005027140
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Better borrowers, fewer banks?
Godlewski, Christophe J.; Lobez, Frédéric; Statnik, … - Laboratoire de Recherche en Gestion (LaRGE), Institut … - 2010
We investigate the relationship between borrower quality and the structure of the pool of banks. First, we develop a theoretical model where the size of the banking pool is a credible signal of firm quality. We argue that better borrowers seek to disclose their quality in a credible way through...
Persistent link: https://www.econbiz.de/10008615329
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The Role of Banks in SME Finance
Norden, Norden, L. - Erasmus Research Institute of Management (ERIM), … - 2015
obtain more credit and/or lower loan rates under relationship lending. Furthermore, bank competition makes benefits for … borrowers more likely. The second conclusion is that trade credit has limited scope to replace bank debt when the latter is … subject to a shock. SMEs in Europe have countered a shock to their bank debt to some extent with trade credit. However …
Persistent link: https://www.econbiz.de/10011185628