المستودع الأكاديمي جامعة المدينة

Multiple but asymmetric bank financing : the case of relationship lending

أعرض تسجيلة المادة بشكل مبسط

dc.creator Elsas, Ralf
dc.creator Heinemann, Frank
dc.creator Tyrell, Marcel
dc.date 2004
dc.date.accessioned 2013-10-16T07:01:49Z
dc.date.available 2013-10-16T07:01:49Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18889
dc.identifier ppn:47075415X
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18889
dc.description Empirical evidence suggests that even those firms presumably most in need of monitoringintensive financing (young, small, and innovative firms) have a multitude of bank lenders, where one may be special in the sense of relationship lending. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank financing. To fill this gap, we analyze the optimal debt structure in a model that allows for multiple but asymmetric bank financing. The optimal debt structure balances the risk of lender coordination failure from multiple lending and the bargaining power of a pivotal relationship bank. We show that firms with low expected cash-flows or low interim liquidation values of assets prefer asymmetric financing, while firms with high expected cash-flow or high interim liquidation values of assets tend to finance without a relationship bank.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1251
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject G21
dc.subject G78
dc.subject G33
dc.subject ddc:330
dc.subject relationship lending
dc.subject multiple bank financing
dc.subject lender coordination
dc.subject Fremdkapital
dc.subject Kredit
dc.subject Bank
dc.subject Finanzierung
dc.subject Lieferanten-Kunden-Beziehung
dc.subject Theorie
dc.title Multiple but asymmetric bank financing : the case of relationship lending
dc.type doc-type:workingPaper


الملفات في هذه المادة

الملفات الحجم الصيغة عرض

لا توجد أي ملفات مرتبطة بهذه المادة.

هذه المادة تبدو في المجموعات التالية:

أعرض تسجيلة المادة بشكل مبسط