News

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 "Credit rationing in small firm-bank relationships" 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.

  • Published:
  • Updated:
Share
URL copied!

Related news

Research & Art Published:

New book from Professor Vesa Puttonen

The book is titled “Miten sijoitan rahastoihin” (How to invest in mutual funds).
Research & Art Published:

Professor Vesa Puttonen’s book published in Estonian

The book ”Navigating the investment minefield” by H. Kent Baker and Vesa Puttonen has been published now in Estonian by the publisher Äripäev.
Research & Art Published:

During the COVID-19 crisis, nearly half of Finnish SMEs have applied for public financing, while less than one sixth have applied for a bank loan

Researchers from Aalto University, Erasmus University (The Netherlands) and the University of St. Gallen (Switzerland) have studied Finnish SMEs' financing options and prospects in the covid-19 crisis.
Research & Art Published:

Michael Ungeheuer’s paper accepted to be published in the Journal of Banking and Finance

Finance Assistant Professor Michael Ungeheuer’s paper has been accepted for publication in the Journal of Banking and Finance.