Multiple bank lending creates an incentive to overborrow and default. When creditor rights are poorly protected and …

This paper analyzes the optimality of multiple-bank lending, when firms and banks are subject to moral hazard and … monitoring is essential. Multiple-bank lending leads to higher per-project monitoring whenever the benefit of greater … with some empirical observations concerning the use of multiple-bank lending in small and medium business lending. …

firms and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are …

and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the benefit …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are …

firms and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are …

firms and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are …

firms and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are … No. 2004/18 Multiple-bank lending: diversification and free-riding in monitoring Elena …

firms and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are …

and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the benefit …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are …