We study the impact of pre-contractual communication on market outcomes when economic relationships are subject to … (first movers) prior to entering the credit relationship. Communication reduces moral hazard (strategic default) and … weaker impact of communication. Borrowers are more likely to renege on repayment promises when they can hide opportunistic …

This paper seeks to present whether, and if so how, communication via websites can enhance or obstruct the link between … strategy and performance. In doing so, we develop two forms of communication: fit and distraction. Fit refers to the congruence … between external communication and strategy, while distraction implies the external communication of an alternative strategy …