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Informed principals in the credit market when borrowers and lenders are heterogeneous
Barigozzi, Francesca; Tedeschi, Piero - 2016
Both borrowers and lenders can be socially responsible (SR). Ethical banks commit to financing only ethical projects, which have social profitability but lower expected revenues than standard projects. Instead, no credible commitment exists for SR borrowers. The matching between SR borrowers and...
Persistent link: https://www.econbiz.de/10011705659
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Credit markets with ethical banks and motivated borrowers
Barigozzi, Francesca; Tedeschi, Piero - 2011
This paper investigates banks' corporate social responsibility. The credit market is composed of two sectors: one for standard and one for ethical projects. Since ethical banks are committed to investing in ethical projects, standard and ethical banks compete in the market for ethical projects....
Persistent link: https://www.econbiz.de/10011735068
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Microfinance, Subsidies and Dynamic Incentives
Ghosh, Suman; Tassel, Eric Van - Department of Economics, College of Business - 2007
moneylender and a subsidized microfinance institution. We assume that lenders face a moral hazard problem that is diminished as … subsidy levels for which the behavior of the moneylender complements the poverty reduction mission of the microfinance … the subsidy level available to the microfinance institution we discover that for small subsidies the moneylender may be …
Persistent link: https://www.econbiz.de/10005837596
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Efficient Microlending without Joint Liability
Altınok, Ahmet; Sever, Can - Volkswirtschaftliche Fakultät, … - 2014
internal costs of group formation, and broadens the fractions of society into which microfinance institutions penetrate. We …
Persistent link: https://www.econbiz.de/10011110061
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Microcredit Contracts, Risk Diversifi cation and Loan Take-Up
Attanasio, Orazio - 2016
We study theoretically and empirically the demand for micro-credit under different liability arrangements and risk environments. A simple theoretical model shows that the demand for joint-liability loans can exceed that for individual-liability loans when risk-averse borrowers value their...
Persistent link: https://www.econbiz.de/10012991650
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Microcredit Contracts, Risk Diversification and Loan Take-Up
Attanasio, Orazio - 2018
We study theoretically and empirically the demand for microcredit under different liability arrangements and risk environments. A theoretical model shows that the demand for joint-liability loans can exceed that for individual-liability loans when risk-averse borrowers value their long-term...
Persistent link: https://www.econbiz.de/10012936215
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Credit Markets with Ethical Banks and Motivated Borrowers
Barigozzi, F.; Tedeschi, P. - Dipartimento di Scienze Economiche, Alma Mater … - 2011
This paper investigates banks’ corporate social responsibility. The credit market is composed of two sectors: one for standard and one for ethical projects. Since ethical banks are committed to investing in ethical projects, standard and ethical banks compete in the market for ethical...
Persistent link: https://www.econbiz.de/10009319567
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Credit Markets with Ethical Banks and Motivated Borrowers
Barigozzi, Francesca; Tedeschi, Piero - 2011
This paper investigates banks' corporate social responsibility. The credit market is composed of two sectors: one for standard and one for ethical projects. Since ethical banks are committed to investing in ethical projects, standard and ethical banks compete in the market for ethical projects....
Persistent link: https://www.econbiz.de/10011651678
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Informed Principals in the Credit Market when Borrowers and Lenders Are Heterogeneous
Barigozzi, Francesca; Tedeschi, Piero - 2016
Both borrowers and lenders can be socially responsible (SR). Ethical banks commit to financing only ethical projects, which have social profitability but lower expected revenues than standard projects. Instead, no credible commitment exists for SR borrowers. The matching between SR borrowers and...
Persistent link: https://www.econbiz.de/10011651942
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Does Source of Capital Affect Investment and Firm Value?
Chakraborty, Indraneel - 2012
This paper investigates the effect of financing frictions due to source of capital, on firm investment and value. Using instrumental variables approach that controls for endogeneity arising from demand-side factors, we find that firms with access to public debt markets have 11% higher investment...
Persistent link: https://www.econbiz.de/10012712604