| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11699 |
| DP11699 The Effects of Creditor Rights and Bank Information Sharing on Borrower Behavior: Theory and Evidence | |
| Hendrik Hakenes | |
| 发表日期 | 2016-12-09 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | This paper provides a comprehensive theoretical and empirical analysis of "creditor rights" and "information sharing" throughout over 1.8 million public and private firms in Europe. We show that many of the outcomes associated with greater levels of creditor rights can be obtained with higher information sharing between banks. Both theory and empirics show that creditor rights and information sharing are associated with greater firm leverage, lower profitability, as well as greater distance to default. Moreover, both theory and empirics find that creditor rights and information sharing are robust substitutes. Our analysis suggests that poor creditor rights, which tend to be sticky over time, can be substituted by improved information sharing. |
| 主题 | Financial Economics |
| 关键词 | Creditor rights Information sharing |
| URL | https://cepr.org/publications/dp11699 |
| 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/540513 |
| 推荐引用方式 GB/T 7714 | Hendrik Hakenes. DP11699 The Effects of Creditor Rights and Bank Information Sharing on Borrower Behavior: Theory and Evidence. 2016. |
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