Does Corporate Lending by Banks and Finance Companies Differ? Evidence on Specialization in Private Debt Contracting

Topics:
Commercial Lending
Tags:
Bank,
Debt,
Federal Reserve Board,
Finance,
Finance Company,
Financial Accounting,
Financial Planning,
Specialization
Source:
The Federal Reserve Board

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Overview: This paper establishes empirically that specialization in private-market corporate lending exists, adding a new dimension to the public vs. private debt distinctions now common in the literature on debt contracting and financial intermediation. The central theme of this research consisted in the paper concerns why, and to what degree, private market suppliers of credit are better suited than public creditors to finance "information-problematic" borrowers, or all but the least risky and well-known firms. Read on to know more about private debt, bank loan and finance company.

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Format: PDF | Size: 467KB | Date: Jan 1996 | Pages: 65

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