Berger, Allen N.; Espinosa-Vega, Marco A.; Frame, W. Scott - 2007 - Rev.
An important theoretical literature motivates collateral as a mechanism that mitigates adverse selection, credit … incidence of collateral. We exploit exogenous variation in lender information related to the adoption of an information … technology that reduces ex ante private information, and compare collateral outcomes before and after adoption. Our results are …