Certificates are widely used as a signaling mechanism to mitigate adverse selection when information is asymmetric. To … to obtain various kinds of credit certificates. As P2P markets continue to develop, it is plausible that certification … surprisingly, loans with more credit certificates experience a higher rate of delinquency and default. However, lenders remain …

large deal size may signal that the deal is excessively risky. Deal size works as a signaling device because cost of … substantial signaling cost is the impediment to the less informed arrangers …