G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11699
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
URLhttps://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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