Karolin Kirschenmann's Article Credit Rationing in Small Business Bank Relationships Accepted for Journal of Financial Intermediation
The article "Credit rationing in small firm-bank relationships" is published at the Journal of Financial Intermediation
The article "" focuses on credit rationing in small firm-bank relationships by using a unique data set of matched loan applications and contracts. The author establishes the degree of credit rationing by relating a firm's requested loan amount to the bank's granted amount. In line with theoretical predictions, credit rationing is higher for opaque than transparent firms at the beginning of their bank relationships and decreases over time for both. After testing for several alternative explanations, the results suggest that information and incentive problems explain the observed credit rationing and its dynamics.
Read more news
What does 鈥榪uantum鈥 mean?
Two quantum researchers at Aalto University explain how the seemingly impossible becomes a part of everyday reality.
Samu Taulu develops next-generation brain imaging methods
Associate Professor of neurostimulation and neuroimaging Samu Taulu develops more precise methods for understanding the brain
EAA Best Paper and Presentation Award for Young Researchers for postdoctoral researcher Thomas Deppisch
The awarded work shows how speech can be made clearer in noisy environments while still preserving directional cues