start-ups caused by lacking collateral or equity and high information asymmetry. The present study quantifies the economic …

on the economic growth in this region. -- financing of small and medium-sized enterprises ; credit rationing ; collateral …

loan collateral and personal guarantees usage to enhance capital ratios. We use detailed information on the loan contracts … that personal guarantees usage increases more than that of collateral, especially at subsidiaries with lower capital ratios …

asymmetries; these may be mitigated by collateral or relationship lending, possibilities often precluded to small business. We … affiliates with peer monitoring incentives. Hence, MGI willingness to post collateral signals firms credit-worthiness to banks …

asking for collateral. Small firms, especially if they are young, have little collateral and short credit histories, and thus … collateral since this implies that firms are better screened and monitored …

Due to opaque information and weak enforcement in emerging loan markets, the need for collateral is high, whereas … borrowers lack adequate assets to pledge as collateral. How is this puzzle solved? We find for a representative sample from … Northeast Thailand that indeed most loans do not include any tangible assets as collateral. Instead, lenders enforce collateral …

letters of credit, which during the capital controls period had to be backed by firms’ own cash collateral rather than the …