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| Author: | Harhoff, D. Körting, T. |
| Title: | Lending relationships in Germany - Empirical evidence from survey data |
| Journal: | Journal of Banking and Finance
1998 : OCT, VOL. 22:10-11, p. 1317-1353 |
| Index terms: | Loans Finance Credit rationing Germany |
| Language: | eng |
| Abstract: | The role of lending relationships is empirically examined in determining the costs and collateral requirements for external funds. The data originate from a recently concluded survey of small and medium-sized German firms. In a descriptive analysis, the borrowing patterns and the concentration of borrowing from financial institutions is explored. It is found that relationship variables may have some bearing on the price of external funds, but much more so on loan collateralization and availability. Firms in financial distress face comparatively high L/C interest rates and reduced credit availability. |
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