This paper investigates the relationship between credit market competition and the availability of bank credit for firms of unobserved credit quality when firms pledge collateral to secure the loans. Loan data from the Spanish Credit Register shows that the average credit quality of borrowers...

In a bilateral oligopoly where strategic buyers source a good from competing suppliers over time, buyers often have an incentive to sustain competition while suppliers benefit from excluding rival suppliers. We model this situation as a two period asymmetric cost Bertrand duopoly, where in the...

This work undertakes the first comprehensive theoretical assessment of syndicated loans. It is shown that syndicated and bilateral (single lender) loans should be good substitutes in meeting a borrower's financing requirements, but that syndicated loans are more complex and impose additional...

Relationship banking, as exemplified by retail banks, is a valuable enablingstrategy that promotes competitiveness and provides sustainable success. Theutilisation of relationship banking as a business strategy to increase customerretention, create customer loyalty and ultimately increase...

Incluye bibliografía ; El artículo analiza empíricamente los incentivos de distintas empresas a unirse para pedir un préstamo de manera conjunta. Cuando distintas empresas se unen para pedir un único préstamo, estas constituyen una asociación. Identificamos las asociaciones que tuvieron...

A proper security architecture is an essential part of implementing robust and reliable networked applications. Security patterns have shown how reoccurring problems can be best solved with proven solutions. However, while they are critical for ensuring the confidentiality, integrity and...

Consumers are in general less informed than producers about the quality of agricultural goods. To reduce the information gap, consumers can rely on standards (labels, certifications, geographic indications) that insure quality and origin of the goods. However, these standards do not always fully...

In this paper, we develop a model of regulation for a set of heterogenous farmers whose production yields to environmental externalities. The goal of the regulator is first to offer some income support depending on collective preferences towards income redistribution and second to internalize...

The clear definition of property rights is not a sufficient condition to prevent congestion effects in commons. In this paper we present how interesting can be the coordination among owners in the preservation of the common good. Our approach takes into account economic dynamics and incentive...

Most of the literature attributes credit constraints in small-farm developing-country agriculture to the variability of returns to investment in this sector. But the literature does not fully explain lenders. reluctance to finance investments in technologies that provide both higher average and...