Competition, Loan Rates and Information Dispersion in Microcredit Markets
نویسندگان
چکیده
منابع مشابه
Information Dispersion in Financial Markets
Public disclosures can level information asymmetry in financial markets by removing informed traders’ advantage, or can exacerbate asymmetry by further increasing these traders’ knowledge of the firm. This study finds evidence of the latter phenomenon in earnings conference calls, where management releases new information, and financial analysts on the call immediately respond and question mana...
متن کاملMonitoring and Market Power in Loan Markets
Whether or not banks are engaged in ex ante monitoring of customers may have important consequences for the whole economy. We approach this question via a model in which banks can invest in either information acquisition or market power (product differentiation). The two alternatives generate different predictions, which are tested using panel data on Finnish local banks. We find evidence that ...
متن کاملShared Knowledge and Competition for Attention in Information Markets*
Information consumers seek to learn about world events, but often also what others know about those events. Capturing consumers’ attention is essential for information suppliers to thrive in the market. We find that competition for attention leads to homogeneity of information sources—in terms of accuracy and clarity—even when consumers would demand heterogeneous sources. Their equilibrium type...
متن کاملCoordination Motives and Competition for Attention in Information Markets*
We examine markets for information where consumers want to coordinate their decisions and producers compete for consumers’ attention. We describe information sources in terms of their quantity, accuracy, and clarity. We find that competition for attention leads to homogeneity of information sources, even when consumers would want to pay attention to heterogeneous sources. Clarity plays a promin...
متن کاملCompetition and Strategic Information Acquisition in Credit Markets∗
Regulatory changes and technological advances have profoundly affected the competitive landscape of credit markets. In this paper, we investigate the role of information acquisition as a strategic tool for intermediaries to respond to competitive pressures. We specify a model in which the severity of asymmetric information between banks and borrowers varies with distance. Banks acquire borrower...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.2006485