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http://hdl.handle.net/10419/43272
  

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dc.contributor.authorBrunner, Antjeen_US
dc.contributor.authorKrahnen, Jan Pieteren_US
dc.date.accessioned2010-06-16en_US
dc.date.accessioned2010-12-15T09:22:56Z-
dc.date.available2010-12-15T09:22:56Z-
dc.date.issued2010en_US
dc.identifier.piurn:nbn:de:hebis:30-78605-
dc.identifier.urihttp://hdl.handle.net/10419/43272-
dc.description.abstractThis paper analyzes loan pricing when there is multiple banking and borrower distress. Using a unique data set on SME lending collected from major German banks, we can instrument for effective coordination between lenders, carrying out a panel estimation. The analysis allows to distinguish between rents that accrue due to single bank lending, rents that accrue due to relationship lending, and rents that accrue due to the elimination of competition among multiple lenders. We find the relationship lending to have no discernible impact on loan spreads, while both single lending and coordinated multiple lending significantly increase the spread. Thus, contrary to predictions in the literature, multiple lending does not insure the borrower against hold-up.en_US
dc.language.isoengen_US
dc.publisherCenter for Financial Studies Frankfurt, Mainen_US
dc.relation.ispartofseriesCFS Working Paper 2010/07en_US
dc.subject.jelD74en_US
dc.subject.jelG21en_US
dc.subject.jelG33en_US
dc.subject.jelG34en_US
dc.subject.ddc330en_US
dc.subject.keywordBanking Competitionen_US
dc.subject.keywordCoordinationen_US
dc.subject.keywordDistressen_US
dc.subject.keywordCredit Spreaden_US
dc.subject.keywordHold-upen_US
dc.subject.stwKreditgeschäften_US
dc.subject.stwZinsen_US
dc.subject.stwRisikoprämieen_US
dc.subject.stwFirmenkundengeschäften_US
dc.subject.stwKlein- und Mittelunternehmenen_US
dc.subject.stwBanken_US
dc.subject.stwWettbewerben_US
dc.subject.stwLieferanten-Kunden-Beziehungen_US
dc.subject.stwSunk Costsen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleHold-up in multiple banking: Evidence from SME lendingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn628600577en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfswop:201007-
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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