Browsing Working Papers by Subject "G33"

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Browsing Working Papers by Subject "G33"

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    Title: Deposits and bank capital structure  Author(s): ALLEN, Franklin; CARLETTI, Elena Date: 2013 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: In a model with bankruptcy costs and segmented deposit and equity markets, we endogenize the choice of bank and firm capital structure and the cost of equity and deposit finance. Despite risk neutrality, equity capital is ...
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    Title: Illiquidity and Under-Valuation of Firms  Author(s): GALE, Douglas; GOTTARDI, Piero Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We study a competitive model in which market incompleteness implies that debt-financed firms may default in some states of nature and default may lead to the sale of the firms’ assets at fire sale prices when markets are ...
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    Title: Bankruptcy: Is It Enough to Forgive or Must We Also Forget?  Author(s): ELUL, Ronel; GOTTARDI, Piero Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: In many countries, lenders are restricted in their access to information about borrowers’ past defaults. We study this provision in a model of repeated borrowing and lending with moral hazard and adverse selection. We ...
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    Title: The Structure of Multiple Credit Relationships: Evidence from US Firm  Author(s): GUISO, Luigi; MINNETTI, Raul Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: When firms borrow from multiple concentrated creditors such as banks they appear to differentiate their allocation of borrowing. In this paper, we put forward hypotheses for this borrowing pattern based on incomplete ...