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https://hdl.handle.net/10419/18725
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Hainz, Christa | en |
dc.date.accessioned | 2009-01-28T15:52:26Z | - |
dc.date.available | 2009-01-28T15:52:26Z | - |
dc.date.issued | 2004 | - |
dc.identifier.uri | http://hdl.handle.net/10419/18725 | - |
dc.description.abstract | The number of firm bankruptcies is surprisingly low in economies with poor institutions. Westudy a model of bank-firm relationship and show that the bank's decision to liquidate badfirms has two opposing effects. First, the bank receives a payoff if a firm is liquidated.Second, it loses the rent from incumbent customers that is due to its informational advantage.We show that institutions must improve significantly in order to yield a stable equilibrium inwhich the optimal number of firms is liquidated. There is also a range where improvinginstitutions may decrease the number of bad firms liquidated. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x1362 | en |
dc.subject.jel | K10 | en |
dc.subject.jel | G33 | en |
dc.subject.jel | G21 | en |
dc.subject.jel | D82 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | credit markets | en |
dc.subject.keyword | institutions | en |
dc.subject.keyword | bank competition | en |
dc.subject.keyword | information sharing | en |
dc.subject.keyword | bankruptcy | en |
dc.subject.keyword | relationship banking | en |
dc.subject.stw | Konkurs | en |
dc.subject.stw | Liquidation | en |
dc.subject.stw | Bankgeschäft | en |
dc.subject.stw | Firmenkundengeschäft | en |
dc.subject.stw | Asymmetrische Information | en |
dc.subject.stw | Institutionelle Infrastruktur | en |
dc.title | Quality of institutions, credit markets and bankruptcy | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 477509967 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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