haku: @author Schnitzer, M. / yhteensä: 7
viite: 5 / 7
| Tekijä: | Schnitzer, M. |
| Otsikko: | On the role of bank competition for corporate finance and corporate control in transition economies |
| Lehti: | Journal of Institutional and Theoretical Economics
1999 : MAR, VOL. 155:1, p. 22-46 |
| Asiasana: | INSTITUTIONAL ECONOMICS BANKING COMPETITION |
| Kieli: | eng |
| Tiivistelmä: | Banks play a central role in financing and monitoring firms in transition economies. The authors study how bank competition affects the efficiency of the credit allocation, the monitoring of firms, and the firms' restructuring effort. In their models, bank compete to finance an investment project with uncertain return. By screening the firm, a bank learns about its profitability. Surprisingly, the authors find that an increase in bank competition need not reduce a bank's screening incentives even though it lowers its expected profits. |
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