Czasopismo
Tytuł artykułu
Autorzy
Warianty tytułu
Hold-Up Problem in Banking Relationships
Języki publikacji
Abstrakty
Problem zakładnika" jest specyficznym zagadnieniem związanym z relacjami pomiędzy przedsiębiorstwami a ich kredytodawcami. Niniejszy artykuł ma na celu podsumowanie dotychczasowej wiedzy dotyczącej tego problemu zarówno w zakresie teorii, jak i wyników badań empirycznych. Autor prezentuje mechanizm powstawania "problemu zakładnika", jego możliwy wpływ na działalność przedsiębiorstwa oraz warunki jego wystąpienia. Ponadto opisane są rozwiązania mogące pomóc zapobiec jego powstaniu. (abstrakt oryginalny)
Hold-up problem is a distinctive issue related to client-bank relationships. The present article aims to summarize current state of knowledge regarding this matter - the theory as well as the results of empirical research. The author presents the mechanism of how and under what conditions the hold-up problem arises, and its impact on the company's activity. Furthermore, there are described some possible solutions to this issue. (original abstract)
Rocznik
Numer
Strony
40-49
Opis fizyczny
Twórcy
autor
- Szkoła Główna Handlowa w Warszawie, doktorant
Bibliografia
- Adam T.R., Streitz D. (2016), Hold-Up and the Use of Performance-Sensitive Debt, "Journal of Financial Intermediation", vol. 26.
- Angelini P., Di Salvo R., Ferri G. (1998), Availability and Cost of Credit for Small Business Customer Relationships and Credit Cooperatives, "Journal of Banking & Finance", vol. 22.
- Berger A.N., Udell G.F. (1995), Relationship Lending and Lines of Credit in Small Firm Finance, "Journal of Business", vol. 68, no. 3.
- Boot A.W.A. (2000), Relationship Banking: What Do We Know?, "Journal of Financial Intermediation", vol. 9.
- Boot A.W.A., Thakor A.V. (1994), Moral Hazard and Secured Lending in an Infinitely Repeated Credit Market Game, "International Economic Review", vol. 35, no. 4.
- Degryse H., Van Cayseele P. (2000), Relationship Lending within a Bank-Based System: Evidence from European Small Business Data, "Journal of Financial Intermediation", vol. 9.
- Detragiache E., Garella P., Guiso L. (2000), Multiple versus Single Banking Relationships: Theory and Evidence, "The Journal of Finance", vol. 55, no. 3.
- Diamond D.W. (1991), Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt, "Journal of Political Economy", vol. 99, no. 4.
- Dong B., Guo G. (2011), The Relationship Banking Paradox: no pain no gain versus raison d'être, "Economic Modelling", vol. 28.
- Elsas R., Heinemann F., Tyrell M. (2004), Multiple But Asymmetric Bank Financing: The Case of Relationship Lending, Working Paper Series: Finance and Accounting 141, Department of Finance, Goethe University Frankfurt am Main.
- Farinha L.A., Santos J.A.C. (2002), Switching from Single to Multiple Bank Lending Relationships: Determinants and Implications, "Journal of Financial Intermediation", vol. 11.
- Greenbaum S.I., Kanatas G., Itzhak V. (1989), Equilibrium Loan Pricing under the Bank-Client Relationship, "Journal of Banking & Finance", vol. 13.
- Guiso L., Minetti R. (2010), The Structure of Multiple Credit Relationships: Evidence from U.S. Firms, "Journal of Money, Credit and Banking", vol. 42, no. 6.
- Hale G., Santos J.A.C. (2009), Do Banks Price Their Informational Monopoly?, "Journal of Financial Economics", vol. 93.
- Hoshi T., Kashyap A., Scharfstein D. (1990), The Role of Banks in Reducing the Costs of Financial Distress in Japan, "Journal of Financial Economics", vol. 27.
- Houston J., James C. (1996), Bank Information Monopolies and the Mix of Private and Public Debt Claims, "The Journal of Finance", vol. 51, no. 5.
- Ongena S., Smith D.C. (2000), What Determines the Number of Bank Relationships? Cross-Country Evidence, "Journal of Financial Intermediation", vol. 9.
- Ongena S., Smith D.C. (2001), The Duration of Bank Relationships, "Journal of Financial Economics", vol. 61.
- Petersen M.A., Rajan R.G. (1994), The Benefits of Lending Relationships: Evidence from Small Business Data, "The Journal of Finance", vol. 49, no. 1.
- Petersen M.A., Rajan R.G. (1995), The Effect of Credit Market Competition on Lending Relationships, "The Quarterly Journal of Economics", vol. 110, no. 2.
- Rajan R.G. (1992), Insiders and Outsiders: The Choice between Informed and Arm's-Length Debt, "The Journal of Finance", vol. 47, no. 4.
- Santikian L. (2014), The Ties That Bind: Bank Relationships and Small Business Lending, "Journal of Financial Intermediation", vol. 23.
- Santos J.A.C., Winton A. (2008), Bank Loans, Bonds, and Information Monopolies across the Business Cycle, "The Journal of Finance", vol. 63, no. 3.
- Saunders A., Steffen S. (2011), The Costs of Being Private: Evidence from the Loan Market, "The Review of Financial Studies", vol. 24, no. 12.
- Schenone C. (2010), Lending Relationships and Information Rents: Do Banks Exploit Their Information Advantages?, "The Review of Financial Studies", vol. 23, no. 3.
- Sharpe S.A. (1990), Asymmetric Information, Bank Lending and Implicit Contracts: A Stylized Model of Customer Relationships, "The Journal of Finance", vol. 45, no. 4.
- Thakor A.V. (1996), Capital Requirements, Monetary Policy, and Aggregate Bank Lending: Theory and Empirical Evidence, "The Journal of Finance", vol. 51, no. 1.
- Tsuruta D. (2014), Changing Banking Relationships and Client-Firm Performance: Evidence from Japan for the 1990s, "Review of Financial Economics", vol. 23.
- Von Thadden E.L. (1995), Long-Term Contracts, Short-Term Investment and Monitoring, "The Review of Economic Studies", vol. 62, no. 4.
- Von Thadden E.L. (2004), Asymmetric Information, Bank Lending and Implicit Contracts: The Winner's Curse, "Finance Research Letters", vol. 1.
- Weinstein D.E., Yafeh Y. (1998), On the Costs of a Bank-Centered Financial System: Evidence from the Changing Main Bank Relations in Japan, "The Journal of Finance", vol. 53, no. 2.
- Yao J., Ouyang H. (2007), Dark-Side Evidence on Bank-Firm Relationship in Japan, "Japan and the World Economy", vol. 19.
- Zhang X., Song Z., Zhong Z. (2016), Does "Small Bank Advantage" Really Exist? Evidence from China, "International Review of Economics and Finance", vol. 42.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171612231