among organizational variables: the adoption of credit scoring increases the likelihood of restructuring if banks also use …

these firms' future financial performance? (2) Does this predictability vary across different stages of the credit cycle … relationship is primarily present in the expansionary stages of the credit cycle. This suggests that a firm's current bank lender … applicants. The finding that this primarily occurs in credit cycle expansions is consistent with theory models that predict that …

We develop a model of bank lending that allows for credit rationing in equilibrium. Recognizing that small firms incur … a higher percentage cost of monitoring than large firms, the model shows that the incidence of bank credit rationing … consistent with a pattern of a differentially greater degree of rationing of credit to small borrowers during the Great Recession …

these fi rms' future fi nancial performance? (2) Does this predictability vary across different stages of the credit cycle … relationship is primarily present in the expansionary stages of the credit cycle. This suggests that a fi rm's current bank lender … applicants. The fi nding that this primarily occurs in credit cycle expansions is consistent with theory models that predict that …

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 …

We examine the impact of credit default swaps (CDS) on lending relationships and credit market efficiency. CDS insulate … threats, which can have positive implications for borrower incentives and credit availability ex ante. However, lenders may … credit constraints and be detrimental to welfare. Our analysis yields a number of empirical implications, some of which have …

. Importantly, we are able to assign at least half of this acceleration to the adoption of credit scoring technologies by the …

in France whose rates are set by the government. Using administrative credit-registry and regulatory bank data, we find … that a one-percentage-point increase in funding costs reduces credit by 17%. To insulate their profits, banks reach for …