goto contents


Daniel Sebastian Kraus

Devices to screen borrowers’ privately known default risk

Universität Rostock, 2015

https://doi.org/10.18453/rosdok_id00001663

Abstract: Chapter 1 theoretically shows why lenders ration loan size and loan applicants to screen borrowers' riskiness in a competitive spot loan market with imperfect information. Chapter 2 theoretically examines how lenders can reduce costs to screen borrowers' riskiness by a commitment to grant a loan in the future and including a material adverse change (MAC) clause while a spot loan market co-exists. Chapter 3 empirically tests how borrowers' impatience can be used to screen their private information about default risk.

doctoral thesis   free access    


Portals

OPACGVKDataCite Commons

Rights

all rights reserved

This work may only be used under the terms of the German Copyright Law (Urheberrechtsgesetz).