haku: @author Allen, F. / yhteensä: 25
viite: 10 / 25
| Tekijä: | Allen, F. Gale, D. |
| Otsikko: | Innovations in financial services, relationships, and risk sharing |
| Lehti: | Management Science
1999 : SEP, VOL. 45:9, p. 1239-1253 |
| Asiasana: | MANAGEMENT FINANCIAL SERVICES INNOVATION |
| Kieli: | eng |
| Tiivistelmä: | 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. |
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