could miss its appropriate settings by as much as 4% p.a. Also, shocks to banking productivity or collateral effectiveness …

grants a loan and the location of the borrower) on the use of collateral for business loans by Spanish banks on the basis of … the recent lender based theory of collateral (Inderst and Mueller (2007)). We find that, for the average borrower, the use … of collateral is higher for loans granted by local lenders than by distant ones. We also show that the difference in the …

collateral is one of the defining characteristics of loan contracts. This paper investigates if relationship lending and market … concentration allow for informational rent extraction through collateral. We use equity IPO data as informational shocks that erode … rentseeking opportunities. Using a new loan-level database for China, we find that collateral incidence increases with …

literatura empírica sobre el proceso reformatorio en China ; By allowing large classes of movable assets to be used as collateral … with ex-ante more movable assets expand access to bank credit and prolong debt maturity. However, the reform does not seem … to improve the efficiency of credit allocation, as debt capacity of ex-ante low quality firms expands the most following …

funding. We rationalize this finding in a theoretical model in which costs of asset encumbrance increase collateral haircuts …

over the others in terms of the amount of collateral provided: the acceptance of partially government-guaranteed credit … use as collateral to participate in Eurosystem financing operations. This paper, after a brief summary of the collateral … impact has differed widely, determined by the characteristics of the assets used as collateral and their management. Finally …

over the others in terms of the amount of collateral provided: the acceptance of partially government-guaranteed credit … use as collateral to participate in Eurosystem financing operations. This paper, after a brief summary of the collateral … impact has differed widely, determined by the characteristics of the assets used as collateral and their management. Finally …

transparency and more bespoke margin and collateral requirements. …

firms of unobserved credit quality when firms pledge collateral to secure the loans. Loan data from the Spanish Credit … increase with the availability of collateral, but the increase is lower for banks operating in more concentrated credit markets …. Therefore market power in credit markets and collateral appear as substitutes to increase the availability of bank finance under …