out bad loans and special bank closure provisions, are interpreted in our framework. …

‘lemons’ problem is severe, it is optimal to establish a relationship with more than one bank in spite of higher transaction … directly on the inefficiency of bankruptcy procedures and inversely on the ‘fragility’ of the banking system. The paper … concludes with a comparison of bank-firm relationships in Italy and the United States, characterized respectively by multiple …

In the recent theoretical literature on lending risk, the common pool problem in multi-bank relationships has been … credit-fie information on distressed lending relationships in Germany. In particular, it includes information on bank pools … bank pools increases the probability of workout success and that coordination costs are positively related to pool size. We …

We analyse bidding incentives and present evidence on takeover premiums in Sweden’s mandatory bankruptcy auctions. The … bankrupt firm’s main creditor (a bank) to influence the auction outcome. Rules prevent the bank from bidding directly. However …, the bank often finances a bidder in the auction, relaxing liquidity constraints. We show that the optimal bid strategy for …

credit bureaus and public credit registers. We find that bank lending is higher and proxies for default rates are lower in …