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EconStor >
Goethe-Universität Frankfurt am Main >
Center for Financial Studies (CFS), Universität Frankfurt a. M. >
CFS Working Paper Series, Universität Frankfurt a. M. >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25375
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Brunner, Antje | | en_US |
| dc.contributor.author | | Krahnen, Jan Pieter | | en_US |
| dc.date.accessioned | | 2009-07-24T13:34:26Z | | - |
| dc.date.available | | 2009-07-24T13:34:26Z | | - |
| dc.date.issued | | 2001 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/25375 | | - |
| dc.description.abstract | | In the recent theoretical literature on lending risk, the coordination problem in multicreditor relationships have been analyzed extensively. We address this topic empirically, relying on a unique panel data set that includes detailed credit-file information on distressed lending relationships in Germany. In particular, it includes information on creditor pools, a legal institution aiming at coordinating lender interests in borrower distress. We report three major findings. First, the existence of creditor pools increases the probability of workout success. Second, the results are consistent with coordination costs being positively related to pool size. Third, major determinants of pool formation are found to be the number of banks, the distribution of lending shares, and the severity of the distress shock. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Center for Financial Studies Frankfurt, Main | | en_US |
| dc.relation.ispartofseries | | CFS Working Paper 2001/04 | | en_US |
| dc.subject.jel | | D74 | | en_US |
| dc.subject.jel | | G21 | | en_US |
| dc.subject.jel | | G33 | | en_US |
| dc.subject.jel | | G34 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Bank Lending | | en_US |
| dc.subject.keyword | | Distress | | en_US |
| dc.subject.keyword | | Workout | | en_US |
| dc.subject.keyword | | Coordination Risk | | en_US |
| dc.title | | Corporate debt restructuring: Evidence on lender coordination in financial distress | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 342633708 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | CFS Working Paper Series, Universität Frankfurt a. M.
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