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Psychometrics as a tool to improve screening and access to credit
Arráiz, Irani; Bruhn, Miriam; Stucchi, Rodolfo - 2015
This paper studies the use of psychometric tests, designed by the Entrepreneurial Finance Lab (EFL), as a tool to screen out high credit risk and potentially increase access to credit for small business owners in Peru. We use administrative data covering the period from June 2011 to April 2014...
Persistent link: https://www.econbiz.de/10011485359
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Do Audit Fees Influence Credit Risk and Asymmetric Information Problems? Evidence from the Syndicated Loan Market
Gaul, Lewis - 2011
In the syndicated loan market, potential accounting errors exacerbate credit risk and asymmetric information problems. The purpose of financial statement audits is to provide reasonable assurance that accounting records are free from material errors. In this paper, we examine whether an increase...
Persistent link: https://www.econbiz.de/10013134708
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Credit Ratings and Bank Monitoring Ability
Nakamura, Leonard I. - 2013
In this paper we use credit rating data from two large Swedish banks to elicit evidence on banks' loan monitoring ability. For these banks, our tests reveal that banks' credit ratings indeed include valuable private information from monitoring, as theory suggests. However, our tests also reveal...
Persistent link: https://www.econbiz.de/10013081556
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Does Credit Reporting Lead to a Decline in Relationship Lending? Evidence from Information Sharing Technology
Sutherland, Andrew - 2019
I examine how credit reporting affects where firms access credit and how lenders contract with them. I use within firm-time and lender-time tests that exploit lenders joining a credit bureau and sharing information in a staggered pattern. I find information sharing reduces relationship-switching...
Persistent link: https://www.econbiz.de/10012904184
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Credit Ratings and Bank Monitoring Ability
Nakamura, Leonard I. - 2016
In this paper, the authors use credit rating data from two Swedish banks to elicit evidence on banks' loan monitoring ability. They test the banks' ability to forecast credit bureau ratings, and vice versa, and show that bank ratings are able to predict future credit bureau ratings. This is...
Persistent link: https://www.econbiz.de/10013008871
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Credit Ratings, Private Information, and Bank Monitoring Ability
Nakamura, Leonard I. - 2016
In this paper, we use credit rating data from two large Swedish banks to elicit evidence on banks' loan monitoring ability. For these banks, our tests reveal that banks' internal credit ratings indeed include valuable private information from monitoring, as theory suggests. Banks' private...
Persistent link: https://www.econbiz.de/10012988405
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Business Credit Information Sharing and Default Risk of Private Firms
Dierkes, Maik - 2013
We investigate whether and how business credit information sharing helps to better assess the default risk of private firms. Private firms represent an ideal testing ground because they are smaller, more informationally opaque, riskier, and more dependent on trade credit and bank loans than...
Persistent link: https://www.econbiz.de/10013092166
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Rollover risk in commercial paper markets and firms' debt maturity choice
Thierfelder, Felix - 2008
Paper - CP) refinanzieren, wenn sie eine vernachlässigbare Ausfallwahrscheinlichkeit aufweisen. Gleichwohl ist es diesen … Kreditlinie nicht verschlechtert hat. In dem vorliegenden Papier werden zunächst zwei Fragenkomplexe näher untersucht. Erstens … Ausfallwahrscheinlichkeit nahe null liegt? Zweitens, warum wählen diese Firmen eine Finanzierungsform, bei der sie sich in guten Zeiten über die …
Persistent link: https://www.econbiz.de/10010295942
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Multiple-bank lending: Diversification and free-riding in monitoring
Cerasi, Vittoria; Daltung, Sonja - 2004
This paper analyzes banks' choice between lending to firms individually and sharing lending with other banks, when firms and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the benefit of greater diversification in terms of higher...
Persistent link: https://www.econbiz.de/10010298289
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Credit Risk Transfer, Real Sector Productivity, and Financial Deepening
Behr, Patrick; Lee, Samuel - 2005
We derive the effects of credit risk transfer (CRT) markets on real sector productivity and on the volume of financial intermediation in a model where banks choose their optimal degree of CRT and monitoring. We find that CRT increases productivity in the up-market real sector but decreases it in...
Persistent link: https://www.econbiz.de/10010263314