| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3012 |
| DP3012 Dynamic Processes of Social and Economic Interactions: On the Persistence of Inefficiencies | |
| Philippe Jehiel; Armando R Gomes | |
| 发表日期 | 2001-10-23 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | We analyse the coordination problem in multi-creditor relationships empirically, relying on a unique panel data set that contains detailed credit-file information on distressed lending relationships in Germany, including information on creditor pools, a legal institution aiming at coordinating lender interests in borrower distress. We report three major findings. First, the existence of creditor pools increases the probability of workout success. Second, the results are consistent with coordination costs being positively related to pool size. Third, major determinants of pool formation are found to be the number of banks, the distribution of lending shares, and the severity of the distress shock. |
| 主题 | Financial Economics |
| 关键词 | Bank lending Distress Workout Coordination risk |
| URL | https://cepr.org/publications/dp3012 |
| 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/532042 |
| 推荐引用方式 GB/T 7714 | Philippe Jehiel,Armando R Gomes. DP3012 Dynamic Processes of Social and Economic Interactions: On the Persistence of Inefficiencies. 2001. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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