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business lending in local credit markets. Along the price dimension, our analysis reveals that interest rates increase with … dimension, we observe that more distant borrowers are more likely to experience binding credit limits. We also show that the …
Persistent link: https://www.econbiz.de/10013087190
Despite the inefficiencies documented in empirical studies, state ownership of productive assets persists worldwide. One explanation is the “market failure” view, positing that the raison d'être of state-owned firms is to enable projects the private sector is reluctant to sponsor. I analyze...
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This paper presents evidence that personal relationships between corporate borrowers and bank loan officers improve the outcomes of loan renegotiation. Analyzing a bank reorganization in Greece in the mid-2010s, I find that firms that experience an exogenous interruption in their loan officer...
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We investigate how financial contracting interacts with lending channel effects by tracing the anatomy of a credit …-lending revenues, and those that pledge collateral, especially outside assets and real estate, experience less credit rationing …
Persistent link: https://www.econbiz.de/10012973528
Despite the inefficiencies documented in empirical studies, state ownership of productive assets persists worldwide. One explanation is the “market failure” view, positing that the raison d'être of state-owned firms is to enable projects the private sector is reluctant to sponsor. I analyze...
Persistent link: https://www.econbiz.de/10013058705
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