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Book
Year: 2001 Publisher: Washington, D.C. : World Bank, Development Research Group, Finance,
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Large and foreign-owned institutions may have difficulty extending relationship loans to informationally opaque small firms. Bank distress does not appear to affect small business lending, although even small firms may react to bank distress by borrowing from multiple banks.
Bank loans. --- Commercial loans. --- Financial institutions. --- Small business.
Book
Year: 2001 Publisher: Washington, D.C. : World Bank, Development Research Group, Finance,
Abstract | Keywords | Export | Availability | Bookmark
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A secured letter-of-credit loan allows a lender to make larger loans than would be permissible on an unsecured basis, maximizing a risky borrower's investment capital. Empirical evidence shows that secured letters of credit are used by borrowers who are informationally opaque and have higher observable risk. Such borrowers also have fewer growth opportunities and are less likely to pay dividends.
Commercial loans --- Lines of credit --- Security (Law) --- Econometric models.
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