Why do borrowers pledge collateral? new empirical evidence on the role of asymmetric information
Author
Suggested Citation
Download full text from publisher
Other versions of this item:
- Berger, Allen N. & Espinosa-Vega, Marco A. & Frame, W. Scott & Miller, Nathan H., 2011. "Why do borrowers pledge collateral? New empirical evidence on the role of asymmetric information," Journal of Financial Intermediation, Elsevier, vol. 20(1), pages 55-70, January.
References listed on IDEAS
- Thomas Cooley & Ramon Marimon & Vincenzo Quadrini, 2004.
"Aggregate Consequences of Limited Contract Enforceability,"
Journal of Political Economy, University of Chicago Press, vol. 112(4), pages 817-847, August.
- Thomas Cooley & Ramon Marimon & Vicenzo Quadrini, 1999. "Aggregate consequences of limited contract enforceability," Economics Working Papers 843, Department of Economics and Business, Universitat Pompeu Fabra, revised Oct 2003.
- Thomas Cooley & Ramon Marimon & Vincenzo Quadrini, 2003. "Aggregate Consequences of Limited Contract Enforceability," NBER Working Papers 10132, National Bureau of Economic Research, Inc.
- Thomas F. Cooley & Ramon Marimon & Vincenzo Quadrini, 2003. "Aggregate Consequences of Limited Contract Enforceability," Working Papers 1, Barcelona School of Economics.
- Cooley, Thomas & Marimon, Ramon & Quadrini, Vincenzo, 2004. "Aggregate Consequences of Limited Contract Enforceability," CEPR Discussion Papers 4173, C.E.P.R. Discussion Papers.
- Jeffrey Lacker, 2001.
"Collateralized Debt as the Optimal Contract,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(4), pages 842-859, October.
- Jeffrey M. Lacker, 1998. "Collateralized debt as the optimal contract," Working Paper 98-04, Federal Reserve Bank of Richmond.
- Jalal Akhavein & W. Scott Frame & Lawrence J. White, 2005.
"The Diffusion of Financial Innovations: An Examination of the Adoption of Small Business Credit Scoring by Large Banking Organizations,"
The Journal of Business, University of Chicago Press, vol. 78(2), pages 577-596, March.
- Jalal D. Akhavein & W. Scott Frame & Lawrence J. White, 2001. "The diffusion of financial innovations: an examination of the adoption of small business credit scoring by large banking organizations," FRB Atlanta Working Paper 2001-9, Federal Reserve Bank of Atlanta.
- Jalal Akhavein & W. Scott Frame & Lawrence J. White, 2001. "The Diffusion of Financial Innovations: An Examination of The Adoption of Small Business Credit Scoring by Large Banking Organizations," Center for Financial Institutions Working Papers 01-19, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Jalal Akhavein & W. Scott Frame & Lawrence J. White, 2001. "The Diffusion of Financial Innovations: An Examination of the Adoption of Small Business Credit Scoring By Large Banking Organizations," Working Papers 01-08, New York University, Leonard N. Stern School of Business, Department of Economics.
- Jalal D. Akhavein & W. Scott Frame & Lawrence J. White, 2001. "The diffusion of financial innovations: an examination of the adoption of small business credit scoring by large banking organizations," Proceedings 724, Federal Reserve Bank of Chicago.
- Schmidt-Mohr, Udo, 1997. "Rationing versus collateralization in competitive and monopolistic credit markets with asymmetric information," European Economic Review, Elsevier, vol. 41(7), pages 1321-1342, July.
- Hans Hvide & Tore Leite, 2010.
"Optimal debt contracts under costly enforcement,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 44(1), pages 149-165, July.
- Hvide, Hans K. & Leite, Tore, 2007. "Optimal Debt Contracts under Costly Enforcement," CEPR Discussion Papers 6040, C.E.P.R. Discussion Papers.
- Allen N. Berger & Marco A. Espinosa‐Vega & W. Scott Frame & Nathan H. Miller, 2005.
"Debt Maturity, Risk, and Asymmetric Information,"
Journal of Finance, American Finance Association, vol. 60(6), pages 2895-2923, December.
- Allen N. Berger & Marco A. Espinosa-Vega & W. Scott Frame & Nathan H. Miller, 2004. "Debt maturity, risk, and asymmetric information," Finance and Economics Discussion Series 2004-60, Board of Governors of the Federal Reserve System (U.S.).
- Marco A Espinosa-Vega & Allen N. Berger & Mr. Nathan H. Miller & W. Scott Frame, 2005. "Debt Maturity, Risk, and Asymmetric Information," IMF Working Papers 2005/201, International Monetary Fund.
- Allen N. Berger & Marco A. Espinosa-Vega & W. Scott Frame & Nathan H. Miller, 2004. "Debt maturity, risk, and asymmetric information," FRB Atlanta Working Paper 2004-32, Federal Reserve Bank of Atlanta.
- Kim C. Border & Joel Sobel, 1987. "Samurai Accountant: A Theory of Auditing and Plunder," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 54(4), pages 525-540.
- de Meza, David & Southey, Clive, 1996.
"The Borrower's Curse: Optimism, Finance and Entrepreneurship,"
Economic Journal, Royal Economic Society, vol. 106(435), pages 375-386, March.
- De Meza, D. & Southey, C., 1995. "The Borrower's Curse: Optimism, Finance and Enterpreneurship," Discussion Papers 9502, University of Exeter, Department of Economics.
- Bengt Holmstrom & Jean Tirole, 1997.
"Financial Intermediation, Loanable Funds, and The Real Sector,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(3), pages 663-691.
- Bengt Holmstrom & Jean Tirole, 1994. "Financial Intermediation, Loanable Funds and the Real Sector," Working papers 95-1, Massachusetts Institute of Technology (MIT), Department of Economics.
- Holmström, Bengt & Tirole, Jean, 1994. "Financial Intermediation, Loanable Funds and the Real Sector," IDEI Working Papers 40, Institut d'Économie Industrielle (IDEI), Toulouse.
- Dilip Mookherjee & Ivan Png, 1989. "Optimal Auditing, Insurance, and Redistribution," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 104(2), pages 399-415.
- Kiyotaki, Nobuhiro & Moore, John, 1997.
"Credit Cycles,"
Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 211-248, April.
- John Moore & Nobuhiro Kiyotaki, "undated". "Credit Cycles," Discussion Papers 1995-5, Edinburgh School of Economics, University of Edinburgh.
- Nobuhiro Kiyotaki & John Moore, 1995. "Credit Cycles," NBER Working Papers 5083, National Bureau of Economic Research, Inc.
- Arito Ono & Iichiro Uesugi, 2009.
"Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's SME Loan Market,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 935-960, August.
- Arito Ono & Iichiro Uesugi, 2009. "Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's SME Loan Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 935-960, August.
- Ono, Arito & 小野, 有人 & オノ, アリト & Uesugi, Iichiro & 植杉, 威一郎 & ウエスギ, イイチロウ, 2008. "The Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's SME Loan Market," PIE/CIS Discussion Paper 371, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
- Chakraborty, Atreya & Hu, Charles X., 2006. "Lending relationships in line-of-credit and nonline-of-credit loans: Evidence from collateral use in small business," Journal of Financial Intermediation, Elsevier, vol. 15(1), pages 86-107, January.
- Berger, Allen N. & Udell, Gregory F., 2006. "A more complete conceptual framework for SME finance," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2945-2966, November.
- Arito Ono & Iichiro Uesugi, 2005. "The Role of Collateral and Personal Guarantees in Relationship Lending: Evidence from Japan's Small Business Loan Market," Discussion papers 05027, Research Institute of Economy, Trade and Industry (RIETI).
- Banerjee, Abhijit V & Newman, Andrew F, 1993.
"Occupational Choice and the Process of Development,"
Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-298, April.
- Abhijit V. Banerjee & Andrew F. Newman, 1990. "Occupational Choice and the Process of Development," Discussion Papers 911, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Chan, Yuk-Shee & Thakor, Anjan V, 1987.
"Collateral and Competitive Equilibria with Moral Hazard and Private Information,"
Journal of Finance, American Finance Association, vol. 42(2), pages 345-363, June.
- Yuk-Shee Chan & Anjan V. Thakor, 2004. "Collateral and Competitive Equilibria with Moral Hazard and Private Information," Finance 0411019, University Library of Munich, Germany.
- Allen N. Berger & Gregory F. Udell, 2002.
"Small Business Credit Availability and Relationship Lending: The Importance of Bank Organisational Structure,"
Economic Journal, Royal Economic Society, vol. 112(477), pages 32-53, February.
- Allen N. Berger & Gregory F. Udell, 2001. "Small business credit availability and relationship lending: the importance of bank organizational structure," Finance and Economics Discussion Series 2001-36, Board of Governors of the Federal Reserve System (U.S.).
- Leeth, John D. & Scott, Jonathan A., 1989. "The Incidence of Secured Debt: Evidence from the Small Business Community," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 24(3), pages 379-394, September.
- Bester, Helmut, 1987. "The role of collateral in credit markets with imperfect information," European Economic Review, Elsevier, vol. 31(4), pages 887-899, June.
- Philippe Aghion & Patrick Bolton, 1997. "A Theory of Trickle-Down Growth and Development," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 64(2), pages 151-172.
- Guillaume Carlier & Ludovic Renou, 2005. "A costly state verification model with diversity of opinions," Post-Print hal-00404932, HAL.
- Bernanke, Ben & Gertler, Mark, 1989.
"Agency Costs, Net Worth, and Business Fluctuations,"
American Economic Review, American Economic Association, vol. 79(1), pages 14-31, March.
- Bernanke, Ben & Gertler, Mark, 1988. "Agency Costs, Net Worth, And Business Fluctuations," SSRI Workshop Series 292693, University of Wisconsin-Madison, Social Systems Research Institute.
- Williamson, Stephen D., 1986.
"Costly monitoring, financial intermediation, and equilibrium credit rationing,"
Journal of Monetary Economics, Elsevier, vol. 18(2), pages 159-179, September.
- Stephen D. Williamson, 1984. "Costly Monitoring, Financial Intermediation, and Equilibrium Credit Rationing," Working Paper 583, Economics Department, Queen's University.
- Jaap H. Abbring & Pierre-André Chiappori & Jean Pinquet, 2003.
"Moral Hazard and Dynamic Insurance Data,"
Journal of the European Economic Association, MIT Press, vol. 1(4), pages 767-820, June.
- Jaap H. Abbring & Pierre-Andre Chiappori, 2004. "Moral Hazard and Dynamic Insurance Data," 2004 Meeting Papers 316, Society for Economic Dynamics.
- Rajan, Raghuram G, 1992. "Insiders and Outsiders: The Choice between Informed and Arm's-Length Debt," Journal of Finance, American Finance Association, vol. 47(4), pages 1367-1400, September.
- Inderst, Roman & Mueller, Holger M., 2007.
"A lender-based theory of collateral,"
Journal of Financial Economics, Elsevier, vol. 84(3), pages 826-859, June.
- Inderst, Roman & Mueller, Holger M., 2006. "A lender-based theory of collateral," IMFS Working Paper Series 6, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Inderst, Roman & Mueller, Holger, 2006. "A Lender-Based Theory of Collateral," CEPR Discussion Papers 5695, C.E.P.R. Discussion Papers.
- Paul Beaudry & Michel Poitevin, 1995.
"Competitive Screening in Financial Markets when Borrowers can Recontract,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 62(3), pages 401-423.
- Beaudry, P. & Poitevin, M., 1990. "Competitive Screening In Financial Market When Borrowers Can Recontract," Cahiers de recherche 9035, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Beaudry, P. & Poitevin, M., 1990. "Competitive Screening in Financial Market When Borrowers Can Recontract," Cahiers de recherche 9035, Universite de Montreal, Departement de sciences economiques.
- Boot, Arnoud W A & Thakor, Anjan V & Udell, Gregory F, 1991. "Secured Lending and Default Risk: Equilibrium Analysis, Policy Implications and Empirical Results," Economic Journal, Royal Economic Society, vol. 101(406), pages 458-472, May.
- Sharpe, Steven A, 1990.
"Asymmetric Information, Bank Lending, and Implicit Contracts: A Stylized Model of Customer Relationships,"
Journal of Finance, American Finance Association, vol. 45(4), pages 1069-1087, September.
- Steven A. Sharpe, 1989. "Asymmetric information, bank lending, and implicit contracts: a stylized model of customer relationships," Finance and Economics Discussion Series 70, Board of Governors of the Federal Reserve System (U.S.).
- Christophe Godlewski & Laurent Weill, 2011.
"Does Collateral Help Mitigate Adverse Selection? A Cross-Country Analysis,"
Journal of Financial Services Research, Springer;Western Finance Association, vol. 40(1), pages 49-78, October.
- Laurent Weill & Christophe J. GODLEWSKI, 2006. "Does Collateral Help Mitigate Adverse Selection? A Cross-Country Analysis," Working Papers of LaRGE Research Center 2006-02, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
- Christophe J. Godlewski & Laurent Weill, 2011. "Does Collateral Help Mitigate Adverse Selection? A Cross-Country Analysis," Post-Print hal-03047771, HAL.
- Weill, Laurent & Godlewski, Christophe, 2006. "Does Collateral Help Mitigate Adverse Selection ? A Cross-Country Analysis," MPRA Paper 2508, University Library of Munich, Germany.
- Gan, Jie, 2007. "Collateral, debt capacity, and corporate investment: Evidence from a natural experiment," Journal of Financial Economics, Elsevier, vol. 85(3), pages 709-734, September.
- G. Carlier & L. Renou, 2006.
"Debt contracts with ex-ante and ex-post asymmetric information: an example,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(2), pages 461-473, June.
- G. Carlier & L. Renou, 2005. "Debt contracts with ex-ante and ex-post asymmetric information: an example," Game Theory and Information 0502003, University Library of Munich, Germany.
- Guillaume Carlier & Ludovic Renou, 2005. "Debt Contracts with ex-ante and ex-post Asymmetric Information: An Example," School of Economics and Public Policy Working Papers 2005-03, University of Adelaide, School of Economics and Public Policy.
- Berger, Allen N. & Udell, Gregory F., 1990.
"Collateral, loan quality and bank risk,"
Journal of Monetary Economics, Elsevier, vol. 25(1), pages 21-42, January.
- Allen N. Berger & Gregory F. Udell, 1988. "Collateral, loan quality, and bank risk," Finance and Economics Discussion Series 51, Board of Governors of the Federal Reserve System (U.S.).
- Marianne Bertrand & Esther Duflo & Sendhil Mullainathan, 2004.
"How Much Should We Trust Differences-In-Differences Estimates?,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 249-275.
- Marianne Bertrand & Esther Duflo & Sendhil Mullainathan, 2002. "How Much Should We Trust Differences-in-Differences Estimates?," NBER Working Papers 8841, National Bureau of Economic Research, Inc.
- Berger, Allen N & Frame, W Scott & Miller, Nathan H, 2005.
"Credit Scoring and the Availability, Price, and Risk of Small Business Credit,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(2), pages 191-222, April.
- Allen N. Berger & W. Scott Frame & Nathan H. Miller, 2002. "Credit scoring and the availability, price, and risk of small business credit," Finance and Economics Discussion Series 2002-26, Board of Governors of the Federal Reserve System (U.S.).
- Allen N. Berger & W. Scott Frame & Nathan H. Miller, 2002. "Credit scoring and the availability, price, and risk of small business credit," FRB Atlanta Working Paper 2002-6, Federal Reserve Bank of Atlanta.
- Stefan Krasa & Anne P. Villamil, 2000. "Optimal Contracts when Enforcement Is a Decision Variable," Econometrica, Econometric Society, vol. 68(1), pages 119-134, January.
- Townsend, Robert M., 1979.
"Optimal contracts and competitive markets with costly state verification,"
Journal of Economic Theory, Elsevier, vol. 21(2), pages 265-293, October.
- Robert M. Townsend, 1979. "Optimal contracts and competitive markets with costly state verification," Staff Report 45, Federal Reserve Bank of Minneapolis.
- repec:dau:papers:123456789/7447 is not listed on IDEAS
- Jimenez, Gabriel & Salas, Vicente & Saurina, Jesus, 2006.
"Determinants of collateral,"
Journal of Financial Economics, Elsevier, vol. 81(2), pages 255-281, August.
- Gabriel Jiménez & Vicente Salas & Jesús Saurina, 2004. "Determinants of collateral," Working Papers 0420, Banco de España.
- Petersen, Mitchell A & Rajan, Raghuram G, 1994. "The Benefits of Lending Relationships: Evidence from Small Business Data," Journal of Finance, American Finance Association, vol. 49(1), pages 3-37, March.
- Menkhoff, Lukas & Neuberger, Doris & Suwanaporn, Chodechai, 2006.
"Collateral-based lending in emerging markets: Evidence from Thailand,"
Journal of Banking & Finance, Elsevier, vol. 30(1), pages 1-21, January.
- Lukas Menkhoff & Doris Neuberger & Chodechai Suwanaporn, 2005. "Collateral-Based Lending in Emerging Markets: Evidence from Thailand," Finance 0501008, University Library of Munich, Germany.
- Elsas, Ralf & Krahnen, Jan Pieter, 2000.
"Collateral, default risk, and relationship lending: An empirical study on financial contracting,"
CFS Working Paper Series
1999/13, Center for Financial Studies (CFS).
- Krahnen, Jan-Pieter, 2000. "Collateral, Default Risk, and Relationship Lending: An Empirical Study on Financial Contracting," CEPR Discussion Papers 2540, C.E.P.R. Discussion Papers.
- Douglas Gale & Martin Hellwig, 1985. "Incentive-Compatible Debt Contracts: The One-Period Problem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 52(4), pages 647-663.
- Rui Albuquerque & Hugo A. Hopenhayn, 2004. "Optimal Lending Contracts and Firm Dynamics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(2), pages 285-315.
- Besanko, David & Thakor, Anjan V., 1987.
"Competitive equilibrium in the credit market under asymmetric information,"
Journal of Economic Theory, Elsevier, vol. 42(1), pages 167-182, June.
- David Besanko & Anjan V. Thakor, 2004. "Competitive Equilibrium in the Credit Market under Asymmetric Information," Finance 0411045, University Library of Munich, Germany.
- Greenbaum, Stuart I. & Kanatas, George & Venezia, Itzhak, 1989. "Equilibrium loan pricing under the bank-client relationship," Journal of Banking & Finance, Elsevier, vol. 13(2), pages 221-235, May.
- Degryse, Hans & Van Cayseele, Patrick, 2000.
"Relationship Lending within a Bank-Based System: Evidence from European Small Business Data,"
Journal of Financial Intermediation, Elsevier, vol. 9(1), pages 90-109, January.
- Hans Degryse & Partick Van cayseele, 1998. "Relationship Lending within a Bank-based System: Evidence from European Small Business Data," Working Papers of Department of Economics, Leuven ces9816, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
- Berger, Allen N & Udell, Gregory F, 1995. "Relationship Lending and Lines of Credit in Small Firm Finance," The Journal of Business, University of Chicago Press, vol. 68(3), pages 351-381, July.
- Flannery, Mark J, 1986. "Asymmetric Information and Risky Debt Maturity Choice," Journal of Finance, American Finance Association, vol. 41(1), pages 19-37, March.
- Ben Bernanke & Mark Gertler, 1990.
"Financial Fragility and Economic Performance,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(1), pages 87-114.
- Ben Bernanke & Mark Gertler, 1987. "Financial Fragility and Economic Performance," NBER Working Papers 2318, National Bureau of Economic Research, Inc.
- Bernanke, Ben & Gertler, Mark, 1987. "Financial Fragility And Economic Performance," SSRI Workshop Series 292690, University of Wisconsin-Madison, Social Systems Research Institute.
- Mitchell A. Petersen, 2009.
"Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches,"
The Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 435-480, January.
- Mitchell A. Petersen, 2005. "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches," NBER Working Papers 11280, National Bureau of Economic Research, Inc.
- Besanko, David & Thakor, Anjan V, 1987. "Collateral and Rationing: Sorting Equilibria in Monopolistic and Competitive Credit Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(3), pages 671-689, October.
- Machauer, Achim & Weber, Martin, 1998.
"Bank behavior based on internal credit ratings of borrowers,"
Journal of Banking & Finance, Elsevier, vol. 22(10-11), pages 1355-1383, October.
- Machauer, Achim & Weber, Martin, 1998. "Bank behavior based on internal credit ratings of borrowers," CFS Working Paper Series 1998/08, Center for Financial Studies (CFS).
- Jaap H. Abbring & James J. Heckman & Pierre-André Chiappori & Jean Pinquet, 2003.
"Adverse Selection and Moral Hazard In Insurance: Can Dynamic Data Help to Distinguish?,"
Journal of the European Economic Association, MIT Press, vol. 1(2-3), pages 512-521, 04/05.
- Jean Pinquet & Pierre-André Chiappori & Jaap Abbring & James J Heckman, 2003. "Adverse selection and moral hazard in insurance: can dynamic data help to distinguish?," Post-Print hal-00397115, HAL.
- Jaap H. Abbring & Pierre-André Chiappori & Jean Pinquet, 2003.
"Moral Hazard and Dynamic Insurance Data,"
Journal of the European Economic Association, MIT Press, vol. 1(4), pages 767-820, June.
- Jean Pinquet & Jaap Abbring & Pierre-André Chiappori, 2003. "Moral Hazard and Dynamic Insurance Data," Post-Print hal-00397121, HAL.
- Manove, Michael & Padilla, A Jorge & Pagano, Marco, 2001. "Collateral versus Project Screening: A Model of Lazy Banks," RAND Journal of Economics, The RAND Corporation, vol. 32(4), pages 726-744, Winter.
- Jeffrey Lacker, 2001.
"Collateralized Debt as the Optimal Contract,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(4), pages 842-859, October.
- Jeffrey Lacker, 2001. "Online Appendix to Collateralized Debt as the Optimal Contract," Online Appendices lacker01, Review of Economic Dynamics.
- Frame, W Scott & Srinivasan, Aruna & Woosley, Lynn, 2001. "The Effect of Credit Scoring on Small-Business Lending," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(3), pages 813-825, August.
- Douglas W. Diamond, 1991. "Debt Maturity Structure and Liquidity Risk," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(3), pages 709-737.
- Harhoff, Dietmar & Korting, Timm, 1998. "Lending relationships in Germany - Empirical evidence from survey data," Journal of Banking & Finance, Elsevier, vol. 22(10-11), pages 1317-1353, October.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
- Bester, Helmut, 1985. "Screening vs. Rationing in Credit Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 75(4), pages 850-855, September.
- Booth, James R., 1992. "Contract costs, bank loans, and the cross-monitoring hypothesis," Journal of Financial Economics, Elsevier, vol. 31(1), pages 25-41.
- Harhoff, Dietmar & Körting, Timm, 1998.
"Lending Relationships in Germany: Empirical Results from Survey Data,"
CEPR Discussion Papers
1917, C.E.P.R. Discussion Papers.
- Dietmar Harhoff & Timm Körting, 1998. "Lending Relationships in Germany: Empirical Results from Survey Data," CIG Working Papers FS IV 98-06, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- Boot, Arnoud W A & Thakor, Anjan V, 1994. "Moral Hazard and Secured Lending in an Infinitely Repeated Credit Market Game," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(4), pages 899-920, November.
- Voordeckers, Wim & Steijvers, Tensie, 2006. "Business collateral and personal commitments in SME lending," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 3067-3086, November.
- Stulz, ReneM. & Johnson, Herb, 1985. "An analysis of secured debt," Journal of Financial Economics, Elsevier, vol. 14(4), pages 501-521, December.
- Wette, Hildegard C, 1983. "Collateral in Credit Rationing in Markets with Imperfect Information: Note," American Economic Review, American Economic Association, vol. 73(3), pages 442-445, June.
- Guillaume Carlier & Ludovic Renou, 2005. "A costly state verification model with diversity of opinions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(2), pages 497-504, February.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Berger, Allen N. & Scott Frame, W. & Ioannidou, Vasso, 2011.
"Tests of ex ante versus ex post theories of collateral using private and public information,"
Journal of Financial Economics, Elsevier, vol. 100(1), pages 85-97, April.
- Allen N. Berger & W. Scott Frame & Vasso P. Ioannidou, 2010. "Tests of ex ante versus ex post theories of collateral using private and public information," FRB Atlanta Working Paper 2010-06, Federal Reserve Bank of Atlanta.
- Berger, A.N. & Frame, W.S. & Ioannidou, V., 2010. "Tests of Ex Ante Versus Ex Post Theories of Collateral Using Private and Public Information," Other publications TiSEM e10f40a9-f323-4985-a513-9, Tilburg University, School of Economics and Management.
- Berger, A.N. & Frame, W.S. & Ioannidou, V., 2010. "Tests of Ex Ante Versus Ex Post Theories of Collateral Using Private and Public Information," Discussion Paper 2010-13, Tilburg University, Center for Economic Research.
- Berger, A.N. & Frame, W.S. & Ioannidou, V., 2010. "Tests of Ex Ante Versus Ex Post Theories of Collateral Using Private and Public Information," Other publications TiSEM 23a65c0b-9283-466b-ae01-b, Tilburg University, School of Economics and Management.
- Kislat, Carmen & Menkhoff, Lukas & Neuberger, Doris, 2013.
"The use of collateral in formal and informal lending,"
VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order
79765, Verein für Socialpolitik / German Economic Association.
- Kislat, Carmen & Menkhoff, Lukas & Neuberger, Doris, 2013. "The use of collateral in formal and informal lending," Kiel Working Papers 1879, Kiel Institute for the World Economy (IfW Kiel).
- Yaldız Hanedar, Elmas & Broccardo, Eleonora & Bazzana, Flavio, 2014.
"Collateral requirements of SMEs: The evidence from less-developed countries,"
Journal of Banking & Finance,
Elsevier, vol. 38(C), pages 106-121.
- Elmas Yaldiz Hanedar & Eleonora Broccardo & Flavio Bazzana, 2012. "Collateral Requirements of SMEs:The Evidence from Less–Developed Countries," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 12111, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
- Elmas Yaldiz Hanedar & Eleonora Broccardo & Flavio Bazzana, 2012. "Collateral Requirements of SMEs:The Evidence from Less–Developed Countries," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0034, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
- Ioannidou, Vasso & Pavanini, Nicola & Peng, Yushi, 2022. "Collateral and asymmetric information in lending markets," Journal of Financial Economics, Elsevier, vol. 144(1), pages 93-121.
- Aivazian, Varouj & Gu, Xinhua & Qiu, Jiaping & Huang, Bihong, 2015. "Loan collateral, corporate investment, and business cycle," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 380-392.
- Tensie Steijvers & Wim Voordeckers & Koen Vanhoof, 2010. "Collateral, relationship lending and family firms," Small Business Economics, Springer, vol. 34(3), pages 243-259, April.
- Chala, Alemu Tulu & Forssbaeck, Jens, 2018. "Does Collateral Reduce Loan-Size Credit Rationing? Survey Evidence," Working Papers 2018:36, Lund University, Department of Economics.
- Meles, Antonio & Porzio, Claudio & Sampagnaro, Gabriele & Starita, Maria Grazia & Verdoliva, Vincenzo, 2017. "Collateralization of business loans: Testing the prediction of theories," Research in International Business and Finance, Elsevier, vol. 42(C), pages 922-938.
- Tensie Steijvers & Wim Voordeckers, 2009. "Collateral And Credit Rationing: A Review Of Recent Empirical Studies As A Guide For Future Research," Journal of Economic Surveys, Wiley Blackwell, vol. 23(5), pages 924-946, December.
- Bing Xu & Honglin Wang & Adrian Van Rixtel, 2015.
"Do banks extract informational rents through collateral?,"
BIS Working Papers
522, Bank for International Settlements.
- Bing Xu & Honglin Wang & Adrian van Rixtel, 2016. "Do banks extract informational rents through collateral?," Working Papers 012016, Hong Kong Institute for Monetary Research.
- Bing Xu & Adrian van Rixtel & Honglin Wang, 2016. "Do banks extract informational rents through collateral?," Working Papers 1616, Banco de España.
- Menkhoff, Lukas & Neuberger, Doris & Suwanaporn, Chodechai, 2006.
"Collateral-based lending in emerging markets: Evidence from Thailand,"
Journal of Banking & Finance, Elsevier, vol. 30(1), pages 1-21, January.
- Lukas Menkhoff & Doris Neuberger & Chodechai Suwanaporn, 2005. "Collateral-Based Lending in Emerging Markets: Evidence from Thailand," Finance 0501008, University Library of Munich, Germany.
- Gareth Anderson & Saleem Bahaj & Matthieu Chavaz & Angus Foulis & Gabor Pinter, 2023.
"Lending Relationships and the Collateral Channel,"
Review of Finance, European Finance Association, vol. 27(3), pages 851-887.
- Anderson, Gareth & Bahaj, Saleem & Chavaz, Matthieu & Foulis, Angus & Pinter, Gabor, 2018. "Lending relationships and the collateral channel," LSE Research Online Documents on Economics 90371, London School of Economics and Political Science, LSE Library.
- Anderson, Gareth & Bahaj, Saleem & Chavaz, Matthieu & Foulis, Angus & Pinter, Gabor, 2018. "Lending relationships and the collateral channel," Bank of England working papers 768, Bank of England.
- Gareth Anderson & Saleem Bahaj & Matthieu Chavaz & Angus Foulis & Gabor Pinter, 2018. "Lending Relationships and the Collateral Channel," Discussion Papers 1813, Centre for Macroeconomics (CFM).
- Menkhoff, Lukas & Neuberger, Doris & Rungruxsirivorn, Ornsiri, 2012.
"Collateral and its substitutes in emerging markets’ lending,"
Journal of Banking & Finance, Elsevier, vol. 36(3), pages 817-834.
- Lukas Menkhoff & Doris Neuberger & Ornsiri Rungruxsirivorn, 2011. "Collateral and its Substitutes in Emerging Markets' Lending," CESifo Working Paper Series 3585, CESifo.
- Niinimäki, Juha-Pekka, 2015. "The optimal allocation of alternative collateral assets between different loans," The North American Journal of Economics and Finance, Elsevier, vol. 34(C), pages 22-41.
- Dias Duarte, Fábio & Matias Gama, Ana Paula & Paulo Esperança, José, 2017. "Collateral-based in SME lending: The role of business collateral and personal collateral in less-developed countries," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 406-422.
- Voordeckers, Wim & Steijvers, Tensie, 2006. "Business collateral and personal commitments in SME lending," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 3067-3086, November.
- Andrea Bellucci & Alexander Borisov & Germana Giombini & Alberto Zazzaro, 2015.
"Collateral and Local Lending: Testing the Lender-Based Theory,"
IAW Discussion Papers
119, Institut für Angewandte Wirtschaftsforschung (IAW).
- Bellucci, Andrea & Borisov, Alexander & Giombini, Germana & Zazzaro, Alberto, 2015. "Collateral and Local Lending: Testing the Lender-Based Theory," HIT-REFINED Working Paper Series 21, Institute of Economic Research, Hitotsubashi University.
- Andrea Bellucci & Alexander Borisov & Germana Giombini & Alberto Zazzaro, 2015. "Collateral and Local Lending: Testing the Lender-Based Theory," CSEF Working Papers 401, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Andrea Bellucci & Alexander Borisov & Germana Giombini & Alberto Zazzaro, 2015. "Collateral and Local Lending: Testing the Lender-Based Theory," Mo.Fi.R. Working Papers 106, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
- Allen N. Berger & W. Scott Frame & Vasso P. Ioannidou, 2011. "Reexamining the empirical relation between loan risk and collateral: the roles of collateral characteristics and types," FRB Atlanta Working Paper 2011-12, Federal Reserve Bank of Atlanta.
- Cerqueiro, G.M. & Ongena, S. & Roszbach, K., 2011.
"Collateralization, Bank Loan Rates and Monitoring : Evidence from a Natural Experiment,"
Discussion Paper
2011-087, Tilburg University, Center for Economic Research.
- Cerqueiro, Geraldo & Ongena, Steven & Roszbach, Kasper, 2012. "Collateralization, Bank Loan Rates and Monitoring: Evidence from a Natural Experiment," Working Paper Series 257, Sveriges Riksbank (Central Bank of Sweden).
- Cerqueiro, G.M. & Ongena, S. & Roszbach, K., 2011. "Collateralization, Bank Loan Rates and Monitoring : Evidence from a Natural Experiment," Other publications TiSEM f79df9a1-19df-4945-b88b-b, Tilburg University, School of Economics and Management.
- Steven Ongena & Kasper Roszbach & Geraldo Cerqueiro, 2012. "Collateralization, Bank Loan Rates and Monitoring: Evidence from a Natural Experiment," 2012 Meeting Papers 235, Society for Economic Dynamics.
- Cerqueiro, G.M. & Ongena, S. & Roszbach, K., 2011. "Collateralization, Bank Loan Rates and Monitoring : Evidence from a Natural Experiment," Other publications TiSEM 8edad169-df81-4f50-8130-9, Tilburg University, School of Economics and Management.
More about this item
NEP fields
This paper has been announced in the following NEP Reports:- NEP-FMK-2007-01-02 (Financial Markets)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedawp:2006-29. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Rob Sarwark (email available below). General contact details of provider: https://edirc.repec.org/data/frbatus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.