منابع مشابه
The Supply and Demand Side Impacts of Credit Market Information
We utilize a unique pair of experiments to study the precise ways in which reductions in asymmetric information alter the outcome in a credit market. We formulate a general model in which the information set held by lenders, and what borrowers believe their lenders to know, enter separately. This model illustrates that non-experimental identification of the supplyand demand-side information in ...
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a r t i c l e i n f o Paying particular attention to the degree of banking market concentration in developing countries, this paper examines the effect of credit information sharing on bank lending. Using bank-level data from African countries over the period 2004 to 2009 and a dynamic two-step system generalised method of moments (GMM) estimation , it is found that credit information sharing i...
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We present a methodology for rating the creditworthiness of public companies in the U.S. from the prices of traded assets. Our approach uses asset pricing data to impute a term structure of risk neutral survival functions or default probabilities. Firms are then clustered into ratings categories based on their survival functions using a functional clustering algorithm. This allows all public fi...
متن کاملCredit Market Constraints and Labor Market Decisions
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متن کاملCredit Ratings and Market Dynamics
Rating agencies provide opinions on the creditworthiness of companies and debt instruments, and so reduce lenders’ information gathering costs. Their ratings are especially useful in distinguishing the relative riskiness of different borrowers. Empirical evidence suggests that rating agencies rank the riskiness of borrowers well: realised default rates are consistently higher for lower rating g...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2015
ISSN: 1556-5068
DOI: 10.2139/ssrn.2669830