Albertazzi, Ugo; Bottero, Margherita; Gambacorta, Leonardo - 2021
-transfer and default probabilities to gauge the severity of informational asymmetries in the loan securitization market. First, the … analysis confirms the presence of information frictions in the SME loan securitisation market. Second, the unconditional … effects of asymmetric information. Third, using data for firms that maintain multiple bank relationships, we obtain …