Credit rationing by lending institutions has been the subject of much research in recent decades. Although there are some empirical indications, there is little theoretical justification about how various forms of credit rationing manifest themselves in credit markets. Understanding how these...

The Jumpstart Our Business Startups (JOBS) Act of 2012 in the U.S. expanded the capital markets so that entrepreneurs can appeal directly to non-traditional small crowd investors for investment funds. The final rules and forms of the JOBS Act became effective in May 16, 2016. Existing literature...