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Titlebook: Competition in Credit Markets; A theoretic analysis Michael Tröge Book 2001 Springer Fachmedien Wiesbaden 2001 Acquisition.Auktionstheorie.

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发表于 2025-3-21 19:37:25 | 显示全部楼层 |阅读模式
书目名称Competition in Credit Markets
副标题A theoretic analysis
编辑Michael Tröge
视频videohttp://file.papertrans.cn/232/231174/231174.mp4
丛书名称Beiträge zur betriebswirtschaftlichen Forschung
图书封面Titlebook: Competition in Credit Markets; A theoretic analysis Michael Tröge Book 2001 Springer Fachmedien Wiesbaden 2001 Acquisition.Auktionstheorie.
描述Since the 1960‘s, the foundations of finance have either been pure arbitrage or principal agent relationships. This study leaves the Modigliani -Miller world of pure arbitrage -but not the world of equilibria -and turns the principal-agent world upside down. Here the firrns become principals again and banks become agents in the original sense of the word: they act on an auction market. This new view of credit relationships yields a number of interesting insights. In my opinion the most important result is that too close relationships between banks and their borrowers will reduce credit market competition. Michael Tröge thus gives an antitrust reason for the Iimitation of bank involvement in non financial firms. This is not a very relevant issue in the United States where legal responsibility already makes it difficult for banks to inßuence the decisions of the firm. However, in continental Europe, close relationships between banks and firms are widespread and its effects on firrns are subject to a large debate. The author investigates in a first step the impact of the banks‘ information ahout borrower quality on the competitiveness of the credit market. Precise in­ formation about
出版日期Book 2001
关键词Acquisition; Auktionstheorie; Banken; Bankenregulierung; Beiträge zur betriebswirtschaftlichen Forschung
版次1
doihttps://doi.org/10.1007/978-3-663-08310-8
isbn_softcover978-3-8244-9048-6
isbn_ebook978-3-663-08310-8
copyrightSpringer Fachmedien Wiesbaden 2001
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Equity ownership of banks,l that a bank is allowed to hold in a non-financial firm riders widely between countries. Usually two types of restrictions can he found: limitations of the absolute level of equity investment in relation to a book’s capital and absolute limits on the participation in a single company. Whereas the f
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continental Europe, close relationships between banks and firms are widespread and its effects on firrns are subject to a large debate. The author investigates in a first step the impact of the banks‘ information ahout borrower quality on the competitiveness of the credit market. Precise in­ formation about 978-3-8244-9048-6978-3-663-08310-8
发表于 2025-3-22 20:22:45 | 显示全部楼层
Open bid auctions, communicate the offer for example by showing the credit comma. In fact, they do not even need to (lo so. We also obtain an open bid setting when a hank, realizing that its credit offer will not be accepted, makes a second offer. Of course in order to obtain the perfect analogy of an open bid auctio
发表于 2025-3-22 22:38:31 | 显示全部楼层
Usury and Credit Rationing, smaller than the interest rate spreads on corporate bonds of comparable r ratings. In addition, the results of Petersen and Rajah (1994) or Blackwell and Winter (1997) seem to indicate that the variations of the interest rate can rattier be explained with differences in bargaining power or credit m
发表于 2025-3-23 02:34:21 | 显示全部楼层
https://doi.org/10.1007/978-3-7091-6969-8 communicate the offer for example by showing the credit comma. In fact, they do not even need to (lo so. We also obtain an open bid setting when a hank, realizing that its credit offer will not be accepted, makes a second offer. Of course in order to obtain the perfect analogy of an open bid auctio
发表于 2025-3-23 05:59:23 | 显示全部楼层
Speech Motor Dynamics in Stuttering smaller than the interest rate spreads on corporate bonds of comparable r ratings. In addition, the results of Petersen and Rajah (1994) or Blackwell and Winter (1997) seem to indicate that the variations of the interest rate can rattier be explained with differences in bargaining power or credit m
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