In case of multiple creditors a coordination problem can arise when the borrowingfirm runs into financial distress …. Even if the project's value at maturity is enoughto pay all creditors in full, some creditors may be tempted to foreclose … on theirloans. We develop a model of creditor coordination where a large creditor movesbefore a continuum of small …

creditors the option to delay their foreclosure decision rather than obliging them to simultaneous actions as suggested by … diminishes creditor coordination failure whenever the firm is expected to be in distress. -- global games ; creditor coordination …

coordination of creditors of another country. We find, however, that the contagious e.ects on the price of debt precipitated … simultaneous investment decision into two assets, which are subject to correlated fundamental states, as a coordination problem …

coordination costs. The last hypothesis stems from the increasing involvement of non-bank institutions and, in particular, the rise …, (narrower) skills, and diverse incentives of non-bank institutional lenders, optimal contracts between them and corporate … the propensity toward other contractual features that influence when and how creditors have control. However, these …

coordination costs. The last hypothesis stems from the increasing involvement of non-bank institutions and, in particular, the rise …, (narrower) skills, and diverse incentives of non-bank institutional lenders, optimal contracts between them and corporate … the propensity toward other contractual features that influence when and how creditors have control. However, these …