|
EconStor >
Frankfurt School of Finance and Management, Frankfurt a. M. >
Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/27881
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Bannier, Christina E. | | en_US |
| dc.date.accessioned | | 2009-03-24 | | en_US |
| dc.date.accessioned | | 2009-09-10T14:00:42Z | | - |
| dc.date.available | | 2009-09-10T14:00:42Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.pi | | urn:nbn:de:101:1-2009042200 | | - |
| dc.identifier.uri | | http://hdl.handle.net/10419/27881 | | - |
| dc.description.abstract | | This paper studies the effects that heterogeneous multiple bank financing has on a firm's risk- and information-policy, particularly with respect to credit renegotiation efficiency. We find that a significant, yet limited, degree of relationship lending enables firms with high asset specificity to credibly signal their desire to abstain from strategic default. This allows the firm's policy to eliminate the risk of inefficient liquidation even in the case of bleak cash-flow expectations. This hold-up benefit comes at a cost, though: firms with low asset specificity cannot always eliminate the risk of coordination failure by their banks. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Frankfurt School of Finance & Management Frankfurt a. M. | | en_US |
| dc.relation.ispartofseries | | Working paper series // Frankfurt School of Finance & Management 117 | | en_US |
| dc.subject.jel | | D82 | | en_US |
| dc.subject.jel | | G21 | | en_US |
| dc.subject.jel | | L14 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.title | | Is there a hold-up benefit in heterogeneous multiple bank financing? | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 594628954 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|