| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1901 |
| DP1901 Technology in Growth | |
| Danny Quah; Louise C. Keely | |
| 发表日期 | 1998-06-30 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | We examine empirically the role of lending relationships in determining the collateral requirements, costs and availability of external funding. The data originates from a recently concluded survey of small- and medium-sized German firms. In our descriptive analysis, we explore the borrowing patterns and the concentration of borrowing from financial institutions. Using data on line of credit (L/C) interest rates, collateral requirements, and the firms? use of fast payment discounts we find that relationship variables may have some bearing on the price of external funds, but much more so on loan collateralization and availability. Firms in financial distress face comparatively high L/C interest rates and reduced credit availability. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Credit rationing Financial intermediation Lending relationships |
| URL | https://cepr.org/publications/dp1901 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531039 |
| 推荐引用方式 GB/T 7714 | Danny Quah,Louise C. Keely. DP1901 Technology in Growth. 1998. |
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