Carletti, Elena; Cerasi, Vittoria; Daltung, Sonja - Sonderforschungsbereich 504 "Rationalitätskonzepte, …; … - 2004
This paper analyses banks' choice between lending to firms in exclusive relationships and sharing financing with other banks in a context where both firms and banks are subject to moral hazard problems, and bank monitoring is essential for financing to take place. Multiple-bank lending is...