Banken sind bei der Kreditvergabe auf verlässliche Informationen über die Bonität und Risikostruktur potentieller Kreditnehmer angewiesen. Diese Informationen werden in der Regel von nationalen Kreditauskunfteien gesammelt. Insbesondere beim Eintritt in einen ausländischen Markt sind eher...

A string of theoretical papers shows that the non-exclusivity of credit contracts generates important negative contractual externalities. Employing a unique dataset, we identify how these externalities affect the supply of credit. Using internal information on a creditor's willingness to lend,...

A string of theoretical papers shows that the non-exclusivity of credit contracts generates important negative contractual externalities. Employing a unique dataset, we identify how these externalities affect the supply of credit. Using internal information on a creditor's willingness to lend,...

In the recent theoretical literature on lending risk, the coordination problem in multi-creditor relationships have been analyzed extensively. We address this topic empirically, relying on a unique panel data set that includes detailed credit-file information on distressed lending relationships...

This paper explores the implications of systemic risk in Credit Structured Finance (CSF). Risk measurement issues loomed large during the 2007-08 financial crisis, as the massive, unprecedented number of downgrades of AAA senior bond tranches inflicted severe losses on banks, calling into...

This paper explores the implications of systemic risk in Credit Structured Finance (CSF). Risk measurement issues loomed large during the 2007-08 financial crisis, as the massive, unprecedented number of downgrades of AAA senior bond tranches inflicted severe losses on banks, calling into...

The recent problems in the financial sector suggest that various types of loans present different types of risk over and above the normal charge-offs. This paper examines the risk associated with post-merger variability in the charge-off rate and the non-performing loan rate, and the...

This paper aims to empirically test the credit risk, measured as non-performing loans, of cooperative banks which operate in a specific Italian geographic area (Lazio, Umbria and Sardegna).We perform a regression analysis over the period 1995-2009. The findings, in contrast with most of the...

We study the effect of bank governance on risk-taking in commercial lending. Banks with more effective boards are less likely to lend to riskier borrowers. This effect is restricted to periods of distress in the banking industry. Banks with more effective boards are less likely to lend to...

We quantify the differences between market and regulatory assessments of bank portfolio risk, showing that larger differences significantly reduce corporate lending rates. Specifically, to entice borrowers, banks reduce spreads by approximately 4.1% following a one standard deviation increase in...