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
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorBrunner, Antjeen_US
dc.contributor.authorKrahnen, Jan Pieteren_US
dc.date.accessioned2009-07-24T13:34:26Z-
dc.date.available2009-07-24T13:34:26Z-
dc.date.issued2001en_US
dc.identifier.piurn:nbn:de:hebis:30-9811-
dc.identifier.urihttp://hdl.handle.net/10419/25375-
dc.description.abstractIn 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.isoengen_US
dc.publisherCenter for Financial Studies Frankfurt, Mainen_US
dc.relation.ispartofseriesCFS Working Paper 2001/04en_US
dc.subject.jelD74en_US
dc.subject.jelG21en_US
dc.subject.jelG33en_US
dc.subject.jelG34en_US
dc.subject.ddc330en_US
dc.subject.keywordBank Lendingen_US
dc.subject.keywordDistressen_US
dc.subject.keywordWorkouten_US
dc.subject.keywordCoordination Risken_US
dc.titleCorporate debt restructuring: Evidence on lender coordination in financial distressen_US
dc.typeWorking Paperen_US
dc.identifier.ppn342633708en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

Files in This Item:
File Description SizeFormat
342633708.PDF284.69 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.