Results 221 to 230 of about 46,441 (267)

Information Sharing in Credit Markets

The Journal of Finance, 1993
Abstract A large body of literature on credit markets has shown that asymmetric information may prevent the efficient allocation of lending, leading to credit rationing (e.g., Jaffee and Russell (1976), Stiglitz and Weiss (1981)) or to a wedge between lending and borrowing rates (e.g., King (1986)).
JAPPELLI, TULLIO, PAGANO M.
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PROSPECTS FOR THE CREDIT MARKETS

The Journal of Finance, 1963
INTEREST RATES REMAINED on a fairly even keel in 1962 and, at the end of the year, were not far different from the levels that prevailed at the low point of the business sag in 1960-61 (Chart 1). The progressive tightening of credit and the advance of interest rates that characterized other business expansions since World War II have this time been ...
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Competition and selection in credit markets

Journal of Financial Economics, 2021
We present both theory and evidence that increased competition may decrease rather than increase consumer welfare in subprime credit markets. We present a model of lending markets with imperfect competition, adverse selection and costly lender screening. In more competitive markets, lenders have lower market shares, and thus lower incentives to monitor
Constantine Yannelis, Anthony Lee Zhang
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The Market Valuation of Credit Market Debt

Journal of Money, Credit and Banking, 1989
Estimates of the market values of credit market liabilities are developed for the nonfinancial sectors of the economy for the period 1945-85. The methodology incorporates both the different types of debt and their sectoral distribution. Estimates of cumulative and annual holding gains are presented, and the relation between market and par value series ...
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A Model of the Market for Lines of Credit

The Journal of Finance, 1978
CONSIDERABLE PROGRESS has been made in recent years in constructing positive economic models of the behavior of financial institutions. Some of those who have been responsible for this progress have set out to explain the role of financial institutions in organized financial markets (see, for example, David Pyle [10]) while others have sought to ...
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Credit Derivatives Market

2013
AbstractThe following sections are included:IntroductionThe CDS MarketThe single-name CDSCDS as a measure of credit riskMarket featuresFactors determining the credit spreadBond yield and CDS spreadPricing a CDSMultiname credit derivatives: basket products and CDS indicesCollateralized Debt ObligationCase StudiesForward-looking measures of default ...
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Sector spillovers in credit markets

Journal of Banking & Finance, 2017
Abstract Cross-sector volatility spillovers can both threaten the financial stability of credit markets and the diversification of a credit bond portfolio. In this article, we measure cross-sector volatility spillovers, casting light on their intensity in the US-denominated investment grade bond universe.
Jerome Collet, Florian Ielpo
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Value investing in credit markets

Review of Accounting Studies, 2011
We outline a parsimonious empirical model to assess the relative usefulness of accounting- and equity market-based information to explain corporate credit spreads. The primary determinant of corporate credit spreads is the physical default probability. We compare existing accounting-based and market-based models to forecast default.
Correia, M M, Richardson, S A, Tuna, I
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Credit Markets and Financial Information

SSRN Electronic Journal, 2011
The last decade has seen rapid growth in trading of credit instruments on secondary markets. The ensuing availability of a rich set of credit market data has created a novel environment for testing a variety of financial economic theories. In this discussion, we provide a simple framework for linking asset pricing research using equity and credit ...
Stephen Lok, Scott Richardson
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Credit and Marketing

1994
Credit and marketing are too often seen as opposed to each other, which they are not. Marketing information is among the most valuable forms of credit information there is; credit, properly used, is a key marketing tool for any lending bank, and even for some that do not lend.
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