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| Tekijä: | Elsas, R. Krahnen, J. P. |
| Otsikko: | Is relationship lending special ? Evidence from credit-file data in Germany |
| Lehti: | Journal of Banking and Finance
1998 : OCT, VOL. 22:10-11, p. 1283-1316 |
| Asiasana: | Banking Credit Loans Pricing Germany |
| Kieli: | eng |
| Tiivistelmä: | The German financial market is often characterized as a bank-based system with strong bank-customer relationships. The corresponding notion of a housebank is closely related to the theoretical idea of relationship lending. A direct comparison btw. housebanks and "normal" banks as to their credit policy is provided. Therefore, a new data set, representing a random sample of borrowers drawn from the credit portfolios of 5 leading German banks over a period of 5 years, is analyzed. The major results support the view that housebanks can to establish distinct behavioral pattern consistent with the idea of long-term commitment. It is found that housebanks provide liquidity insurance in situations of unexpected deterioration of borrower ratings. |
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