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The Determinants of Attitudes towards Strategic Default on Mortgages
Guiso, Luigi - 2011
We use survey data to study American households' propensity to default when the value of their mortgage exceeds the value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing defaults are strategic. We also find that no household...
Persistent link: https://www.econbiz.de/10013133775
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How much can financial literacy help?
Guiso, Luigi; Viviano, Eliana - In: Review of finance : journal of the European Finance … 19 (2015) 4, pp. 1347-1382
Persistent link: https://www.econbiz.de/10011405200
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How much can financial literacy help?
Guiso, Luigi; Viviano, Eliana - 2013
Persistent link: https://www.econbiz.de/10010206824
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Multiple versus single banking relationships
Detragiache, Enrica; Garella, Paolo G.; Guiso, Luigi - 1997
with a comparison of bank-firm relationships in Italy and the U.S., characterized respectively by multiple and single … banking. We present evidence that bankruptcy costs are significantly higher and banks less fragile in Italy than in the U …
Persistent link: https://www.econbiz.de/10011608337
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Multiple Creditors and Information Rights: Theory and Evidence from US Firms
Guiso, Luigi; Minetti, Raoul - C.E.P.R. Discussion Papers - 2004
We analyse how a firm allocates information rights across its multiple banks. By differentiating information disclosed, a firm prevents its banks from continuing projects (possibly unsound) solely in order to use their superior information and seize assets during the reorganization....
Persistent link: https://www.econbiz.de/10005136599
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Multiple Versus Single Banking Relationships
Detragiache, Enrica; Garella, Paolo; Guiso, Luigi - C.E.P.R. Discussion Papers - 1997
concludes with a comparison of bank-firm relationships in Italy and the United States, characterized respectively by multiple … and single banking. We present evidence that bankruptcy costs are significantly higher and banks less fragile in Italy …
Persistent link: https://www.econbiz.de/10005504283
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Moral and Social Constraints to Strategic Default on Mortgages
Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2009
We use survey data to study American households’ propensity to default when the value of their mortgage exceeds the value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing defaults are strategic. We also find that no household...
Persistent link: https://www.econbiz.de/10005039578
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Moral and Social Constraints to Strategic Default on Mortgages
Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - National Bureau of Economic Research (NBER) - 2009
We use survey data to study American households' propensity to default when the value of their mortgage exceeds the value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing defaults are strategic. We also find that no household...
Persistent link: https://www.econbiz.de/10005039683
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The Structure of Multiple Credit Relationships: Evidence from US Firms
Guiso, Luigi; Minetti, Raoul - Department of Economics, European University Institute - 2007
When firms borrow from multiple concentrated creditors such as banks they appear to differentiate their allocation of borrowing. In this paper, we put forward hypotheses for this borrowing pattern based on incomplete contract theories and test them using a sample of small U.S. firms. We find...
Persistent link: https://www.econbiz.de/10005816368
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Moral and social constraints to strategic default on mortgages
Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - 2009
Persistent link: https://www.econbiz.de/10003867347