We combine recent findings from the empirical banking literature with established insights
from studies of banking competition and regulation. Motivated by modern theory of financial …

The relationship between firms and banks often suffers from informational opacity that may
result in credit rationing. In theory, providing collateral to the bank can have a mitigating …

This paper examines whether financial institutions discriminate against entrepreneurs on the
basis of gender. Using the cross-country Business Environment and Enterprise Performance …

This book provides a compendium to the empirical work investigating the hypotheses
generated by recent banking theory. Such a compendium is overdue. Since the publication …

Collateral is a widely used, but not well understood, debt contracting feature. Two broad
strands of theoretical literature explain collateral as arising from the existence of either ex …

An important theoretical literature motivates collateral as a mechanism that mitigates
adverse selection, credit rationing, and other inefficiencies that arise when borrowers have …

This paper examines the relation between financial leverage and firm performance for a
panel of 159,375 non-financial firms in Thailand during the financial crisis of 2007–2009. We …

Due to opaque information and weak enforcement in emerging loan markets, the need for
collateral is high, whereas borrowers lack adequate assets to pledge as collateral. How is …

A key problem facing microlenders is the high level of information asymmetry between them
and their borrowers. In this paper, we analyze whether the relationship intensity between …

Previous studies on developed economies have shown that firms with more research and
development (R&D) activities tend to hold more cash. In a transitional economy, such as …