Studies on the influence of trust on credit activity focus mainly on its impact on credit contracts. However, research has highlighted that these are strongly related to the kind of lending technology used by the bank. How trust shapes a bank’s business model is an issue that has not yet been...

During 1992–2007, suppliers financed almost 10% of the total assets of US listed firms. This intensive usage of trade credit is puzzling in the light of its high (implicit) costs. By arguing that trade credit use provides valuable information to outside investors, we first derive a theoretical...

We investigate the relationship between borrower quality and the structure of the pool of banks. First, we develop a theoretical model where the size of the banking pool is a credible signal of firm quality. We argue that better borrowers seek to disclose their quality in a credible way through...

[fre] Cet article présente un modèle des relations banques-entreprises en situation d'anti-sélection. L'asymétrie de l'information y est résolue par un double mécanisme : d'une part, les entreprises choisissent de diversifier plus ou moins leur approvisionnement en capitaux empruntés en...