privately informed about the quality of their projects need to borrow from banks. Conventional wisdom says that, in this class … implicit assumption: entrepreneurs can only borrow from banks. If an additional market is added to provide entrepreneurs with …

Theories linking the reuse of collateral to financial instability have been influential in macroeconomics but empirical … evidence on them is limited. I utilize a change to bankruptcy treatment of repo collateral to provide causal evidence that … strengthened creditor rights increase credit supply and financial instability by increasing the reuse of repo collateral. Using …

down if concerns about collateral values become widespread, and cause participants to withdraw funding. Many contend that a …, central bank monetary policy initiatives, by shrinking the supply of collateral, threaten to undermine repo market …

. Foreign commercial banks also help enhance SME technical efficiency. The results show that larger SMEs have superior … institutions in Thailand still rely on collateral-based lending and SME financial transparency through audited financial statements …

their advantage in borrower screening. Nevertheless, as this advantage declines with loan's term, banks are able to leverage …Using a theoretical model that assumes heterogeneity in lenders' screening ability and in borrowers' investment horizon … to be asset-backed and long-term. The findings suggest that fintech lenders substitute data for collateral to leverage …