theoretical model for calculating the optimal credit guarantee fee. In the empirical part, this study investigates whether … hypothesis that the credit guarantee fee should be different for sound (lower) and unsound (higher) SMEs to avoid moral hazard …

theoretical model for calculating the optimal credit guarantee fee. In the empirical part, this study investigates whether … hypothesis that the credit guarantee fee should be different for sound (lower) and unsound (higher) SMEs to avoid moral hazard …