G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1901
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
URLhttps://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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