Cerqueiro, G.M.; Ongena, S.; Roszbach, K. - Tilburg University, Center for Economic Research - 2011
the incidence of credit rationing. Through its seniority effect, collateral may also affect banks’ incentives to monitor … explore this natural experiment to identify how collateral determines borrower quality, loan terms, access to credit and bank … their bank, and experience a substantial reduction in the supply of credit by their bank. Consistent with theories that …