Schüle, Tobias; Stadler, Manfred - Wirtschaftswissenschaftlichen Fakultät, … - 2005
In case of multiple creditors a coordination problem can arise when the borrowingfirm runs into financial distress. Even if the project's value at maturity is enoughto pay all creditors in full, some creditors may be tempted to foreclose on theirloans. We develop a model of creditor coordination...
