Credit Constraints and Decisions in Exports: Theory under Asymmetric Information
نویسندگان
چکیده
منابع مشابه
Credit Constraints and Decisions in Exports: Theory under Asymmetric Information
This paper examines why credit constraints for domestic and exporting firms arise in a setting where banks do not observe firms’ productivities. To maintain incentive-compatibility, banks lend below the amount needed for first-best production. The longer time needed for export shipments induces a tighter credit constraint on exporters than on purely domestic firms, even in the exporters’ home m...
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CIRANO is a private non-profit organization incorporated under the Québec Companies Act. Its infrastructure and research activities are funded through fees paid by member organizations, an infrastructure grant from the Ministère de lIndustrie, du Commerce, de la Science et de la Technologie, and grants and research mandates obtained by its research teams. The Scientific Series fulfils one of t...
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We analyze the impact credit constraints have on how firms structure their dealings with their partners in the supply chain; and hence how imperfect capital markets can alter short run prices and long run investment levels. Credit constrained firms are shown to become endogenously risk averse and so seek to push some risk onto suppliers. Our predictions reflect risk sharing contracts in general...
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We consider the classical setting of private information retrieval (PIR) of a single message (file) out of M messages from N distributed databases under the new constraint of asymmetric traffic from databases. In this problem, the ratios between the traffic from the databases are constrained, i.e., the ratio of the length of the answer string that the user (retriever) receives from the nth data...
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ژورنال
عنوان ژورنال: Journal of Mathematical Finance
سال: 2012
ISSN: 2162-2434,2162-2442
DOI: 10.4236/jmf.2012.23026