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 … consistent with this central implication of the private-information models and support the empirical importance of this theory …

economic theory. For our sample, collateral overall is associated with lower loan risk premiums and a higher probability of ex … strong for residential real estate collateral and that the risk shifting effect is important for pledged deposits and bank …. -- collateral ; asymmetric information ; banks …

the empirical dominance of different risk-collateral channels implied by economic theory, namely the “lender selection … relation between collateral and loan risk. We posit that certain economic characteristics of collateral may be associated with … regarding the empirical relations between collateral and loan risk. For our sample of commercial loans, we find that the “lender …

economic theory. For our sample, collateral overall is associated with lower loan risk premiums and a higher probability of ex … strong for residential real estate collateral and that the risk shifting effect is important for pledged deposits and bank … relation between loan risk and collateral. Specifically, we posit that different economic characteristics or types of …

literature explain collateral as arising from the existence of either ex ante private information or ex post incentive problems … short borrower-lender relationships that are relatively unknown to the lender. -- collateral ; asymmetric information …Collateral is a widely used, but not well understood, debt-contracting feature. Two broad strands of theoretical …

literature explain collateral as arising from the existence of either ex ante private information or ex post incentive problems …Collateral is a widely used, but not well understood, debt-contracting feature. Two broad strands of theoretical … private information about borrower risk that is unobserved by the lender. The data also include public information about …

literature explain collateral as arising from the existence of either ex ante private information or ex post incentive problems …Collateral is a widely used, but not well understood, debt contracting feature. Two broad strands of theoretical … private information about borrower risk that is unobserved by the lender. The data also includes public information about …

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 … consistent with this central implication of the private-information models and support the empirical importance of this theory. …

literature explain collateral as arising from the existence of either ex ante private information or ex post incentive problems …Collateral is a widely used, but not well understood, debt-contracting feature. Two broad strands of theoretical … private information about borrower risk that is unobserved by the lender. The data also include public information about …