search query: @author Allen, F. / total: 25
reference: 10 / 25
| Author: | Allen, F. Gale, D. |
| Title: | Innovations in financial services, relationships, and risk sharing |
| Journal: | Management Science
1999 : SEP, VOL. 45:9, p. 1239-1253 |
| Index terms: | MANAGEMENT FINANCIAL SERVICES INNOVATION |
| Language: | eng |
| Abstract: | Relationships between intermediaries and their customers have become increasingly important in recent years. This paper argues that the need for costly ex ante information acquisition and analysis is a major barrier to the participation of investors and firms in sophisticated markets. Long-term relationships between intermediaries and their customers, in which intermediaries provide implicit insurance to customers, can be an effective substitute for costly ex ante investigation. |
SCIMA