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Screening as a unified theory of delinquency, renegotiation, and bankruptcy

Kovrijnykh, Natalia; Livshits, Igore - In: International economic review 58 (2017) 2, pp. 499-527

Persistent link: https://www.econbiz.de/10011860242

Default and Renegotiation : A Dynamic Model of Debt

Hart, Oliver - 1997

We analyze the role of debt in persuading an entrepreneur to pay out cash flows, rather than to divert them. In the first part of the paper we study the optimal debt contract -- specifically, the trade-off between the size of the loan and the repayment -- under the assumption that some debt...

Persistent link: https://www.econbiz.de/10012472921

The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting

Roberts, Michael R. - 2014

the financial health of the contracting parties and uncertainty regarding the borrowers' credit quality. The relative …

Persistent link: https://www.econbiz.de/10012458184

Debt renegotiations outside distress

Arnold, Marc; Westermann, Ramona - In: Review of finance : journal of the European Finance … 27 (2023) 4, pp. 1183-1228

Persistent link: https://www.econbiz.de/10014318128

Lender Coordination and Loan Renegotiation

Martin, Xiumin; Tang, Xiaoxiao; Wang, Hanmeng Ivy; Xie, … - 2023

This paper employs an unsupervised machine learning technique to construct a novel measure that captures tight multidimensional interconnections among lenders. We show both the likelihood and intensity of loan renegotiation increase with this measure. The results are robust to controlling for...

Persistent link: https://www.econbiz.de/10014353810

Private renegotiations and government interventions in credit chains

Glode, Vincent; Opp, Christian - In: The review of financial studies 36 (2023) 11, pp. 4502-4545

Persistent link: https://www.econbiz.de/10014392057

Screening as a Unified Theory of Delinquency, Renegotiation, and Bankruptcy

Kovrijnykh, Natalia - 2015

We propose a parsimonious model with adverse selection where delinquency, renegotiation, and bankruptcy all occur in equilibrium as a result of a simple screening mechanism. A borrower has private information about her cost of bankruptcy, and a lender may use random contracts to screen different...

Persistent link: https://www.econbiz.de/10013030850

The Theory of Credit Contracts : With a Focus on Group Lending

Prem, Christian - 2020 - 1st ed. 2020.

A structural analysis of credit contract theory -- The treatment of credit contract theory in the literature -- A … standardisation of credit contract theory -- Joint liability and its potential to cause adverse selection instead of resolving it … analysis of credit contract theory The treatment of credit contract theory in the literature A standardisation of credit …

Persistent link: https://www.econbiz.de/10012399247

The theory of credit contracts : with a focus on group lending

Prem, Christian - 2020

Persistent link: https://www.econbiz.de/10012157308

Contract bargaining with a risk-averse agent

Li, Sanxi; Xiao, Hao; Yao, Dongmin - In: The B.E. journal of theoretical economics 13 (2013) 1, pp. 285-301

Persistent link: https://www.econbiz.de/10010228586