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dc.contributor.authorBrunner, Antjeen
dc.contributor.authorKrahnen, Jan Pieteren
dc.date.accessioned2010-06-16-
dc.date.accessioned2010-12-15T09:22:56Z-
dc.date.available2010-12-15T09:22:56Z-
dc.date.issued2010-
dc.identifier.piurn:nbn:de:hebis:30-78605en
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
dc.language.isoengen
dc.publisher|aGoethe University Frankfurt, Center for Financial Studies (CFS) |cFrankfurt a. M.en
dc.relation.ispartofseries|aCFS Working Paper |x2010/07en
dc.subject.jelD74en
dc.subject.jelG21en
dc.subject.jelG33en
dc.subject.jelG34en
dc.subject.ddc330en
dc.subject.keywordBanking Competitionen
dc.subject.keywordCoordinationen
dc.subject.keywordDistressen
dc.subject.keywordCredit Spreaden
dc.subject.keywordHold-upen
dc.subject.stwKreditgeschäften
dc.subject.stwZinsen
dc.subject.stwRisikoprämieen
dc.subject.stwFirmenkundengeschäften
dc.subject.stwKlein- und Mittelunternehmenen
dc.subject.stwBanken
dc.subject.stwWettbewerben
dc.subject.stwLieferanten-Kunden-Beziehungen
dc.subject.stwSunk Costsen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleHold-up in multiple banking: Evidence from SME lending-
dc.typeWorking Paperen
dc.identifier.ppn628600577en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cfswop:201007en

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