In this paper we challenge basic results of signaling models. In our banking model each project of a borrower is … of riskiness of the borrower to the lender. In most cases the equilibrium is a pooling equilibrium. -- Signaling …

process, lenders have the opportunity to obtain hard and soft information from the borrower. We analyze more than 108,000 home … equity loans and lines-of-credit applications to study the role of soft and hard information during underwriting. Our dataset … allows us to distinguish lender actions that are based strictly on hard information from decisions that involve the …

Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R …&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically … value of their R&D activities and as a result reduce the information deficits that block the availability of external …

Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R …&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically … value of their R&D activities and as a result reduce the information deficits that block the availability of external …

Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R …&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically … value of their R&D activities and as a result reduce the information deficits that block the availability of external …

Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R …&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically … value of their R&D activities and as a result reduce the information deficits that block the availability of external …