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use of collateral in bank loan contracts as well as the exist-ence of relational compared to arm's length lending. In this … paper we seek evidence for the-se hypotheses taking France and Germany as examples which differ significantly concerning the … neither confirm that a high priority for secured lenders explains an excessive use of collateral in bank loans nor that a …
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, we find that countries with stronger legal rights for borrowers and lenders (through collateral and bankruptcy laws …
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