Information production and lending market competition

Journal of Economics and Business

Volumn 55, Issue 3, 2003, Pages 233-253

  Hyytinen, Ari ^a  

^a Elinkeinoelaman Tutkimuslaitos   (Finland)

Author keywords

Banking; Horizontal differentiation; Screening

Indexed keywords

EID: 0038118424     PISSN: 00129933     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0148-6195(03)00024-9     Document Type: Article

References (49)

1. Altman E.I. Marco G. Varetto F. Corporate distress diagnosis: Comparison using linear discriminant analysis and neural networks (the Italian experience) Journal of Banking and Finance 18 1994 505-529
2. Bardos M. Detecting the risk of company failure at the Banque de France Journal of Banking and Finance 22 1998 1405-1419
3. Basle Committee on Banking Supervision. (1999). Credit risk modelling: Current practices and applications. Basle.
4. Berger A. Udell G. The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle Journal of Banking and Finance 22 1998 613-673
5. Besanko D. Thakor A.V. Banking deregulation: Allocational consequences of relaxing entry barriers Journal of Banking and Finance 16 1992 909-932
6. Broecker T. Credit-worthiness tests and interbank competition Econometrica 58 1990 429-452
7. Chan Y.-S. Greenbaum S.I. Thakor A.V. Information reusability, competition and bank asset quality Journal of Banking and Finance 10 1986 243-253
8. Chiappori P.-A. Perez-Castrillo D. Verdier T. Spatial competition in the banking system: Localization, cross subsidies and the regulation of deposit rates European Economic Review 39 1995 889-918
9. Chiesa G. Information production, banking industry structure and credit allocation Research in Economics 52 1998 409-430
10. Degryse, H., & Ongena, S. (2002). Distance, lending relationships, and competition. Tilburg University, mimeo.
11. de Meza D. Webb D.C. Credit market efficiency and tax policy in presence of screening costs Journal of Public Economics 36 1988 1-22
12. de Meza D. Southey C. The borrower's curse: Optimism, finance and entrepreneurship Economic Journal 106 1996 375-386
13. Fama E. What's different about banks? Journal of Monetary Economics 15 1985 29-39
14. Froot K.A. Stein J.C. Risk management, capital budgeting, and capital structure policy for financial institutions: An integrated approach Journal of Financial Economics 47 1998 55-82
15. Gehrig T. Screening, cross-border banking and the allocation of credit Research in Economics 52 1998 387-407
16. Gehrig, T., & Stenbacka, R. (2000). Information sharing in banking: A collusive device? Universität Freiburg and Swedish School of Economics, mimeo.
17. Gottardi, P., & Yanelle, M. O. (1997). Financial innovation and competition among intermediaries. DELTA, Working Paper.
18. Grossman G.M. Shapiro C. Informative advertising with differentiated products Review of Economics Studies 51 1984 63-81
19. Guiso, L., Sapienza, P., & Zingales, L. (2001). The real effects of local financial development. University of Chicago, mimeo.
20. Hauswald, R., & Marquez, R. (2002). Competition and strategic information acquisition in credit markets. University of Maryland, mimeo.
21. Hauswald, R., & Marquez, R. (in press). Information technology and financial services competition. Review of Financial Studies.
22. Jackson, P., Nickell, P., & Perraudin, W. (1999). Credit risk modelling. Bank of England Financial Stability Review.
23. Jaffee, D., & Stiglitz, J. (1990). Credit rationing. In B. M. Friedman & F. H. Hahn (Eds.), Handbook of monetary economics (Vol. II). Amsterdam: Elsevier.
24. Kanniainen, V., & Stenbacka, R. (2000). Lending market structure and monitoring investments. Swedish School of Economics, mimeo.
25. Keeton, W. (1999, Second Quarter). Does faster loan growth lead to higher loan losses? Federal Reserve Bank of Kansas City. Economic Review.
26. Manove M. Padilla J. Banking (conservatively) with optimists Rand Journal of Economics 30 1999 324-350
27. Manove M. Padilla A.J. Pagano M. Collateral versus project screening: A model of lazy banks Rand Journal of Economics 32 2001 724-744
28. Marquez R. Competition, adverse selection and information dispersion in the banking industry Review of Financial Studies 153 2002 901-926
29. Molyneux P. Lloyd-Williams D.M. Thornton J. Competitive conditions in European banking Journal of Banking and Finance 18 1994 445-459
30. Nakamura, L. I. (1993). Loan screening within and outside of customer relationships. Federal Reserve Bank of Philadelphia, Working Papers, No. 93-15.
31. Neven D. Röller L.-H. An aggregate structural model of competition in the European banking industry International Journal of Industrial Organization 17 1999 1059-1074
32. Padilla J.A. Pagano M. Endogenous communication among lenders and entrepreneurial incentives Review of Financial Studies 10 1997 205-236
33. Pagano M. Jappelli T. Information sharing in credit markets Journal of Finance 48 1993 1693-1718
34. Petersen M.A. Rajan R.G. The effect of credit market competition on lending relationships Quarterly Journal of Economics 110 1995 406-443
35. Petersen, M. A., & Rajan, R. G. (2001). Does distance still matter? The information revolution in small business lending, forthcoming. Journal of Finance.
36. Raith M. A general model of information sharing in oligopoly Journal of Economic Theory 71 1996 260-288
37. Rajan R.G. Why bank credit policies fluctuate: A theory and some evidence Quarterly Journal of Economics 109 1994 399-442
38. Riordan, M. (1993). Competition and bank performance: A theoretical perspective. In C. Mayer & X. Vives (Eds.), Capital markets and financial intermediation. Cambridge: Cambridge University Press.
39. Salop S. Monopolistic competition with outside goods Bell Journal of Economics 8 1979 378-393
40. Shaffer S. The winner's curse in banking Journal of Financial Intermediation 7 1998 359-392
41. Shaffer, S. (1999). Adverse selection, market structure, and competitive pricing in bank lending. University of Wyoming, mimeo.
42. Stiglitz, J., & Weiss, A. (1988). Banks as social accountants and screening devices for the allocation of credit. National Bureau of Economic Research, Working Paper, No. 2710.
43. Stole L. Nonlinear pricing and oligopoly Journal of Economics and Management Strategy 4 1995 529-562
44. Thakor A.V. Capital requirements, monetary policy and aggregate bank lending: Theory and empirical evidence Journal of Finance 51 1996 279-323
45. Villas-Boas J.M. Schmidt-Mohr U. Oligopoly with asymmetric information: Differentiation in credit markets Rand Journal of Economics 30 1999 375-396
46. von Thadden E.-L. Long-term contracts, short-term investment and monitoring Review of Economic Studies 62 624 1995 557-575
47. Wang C. Williamson S.D. Debt contracts and financial intermediation with costly screening Canadian Journal of Economics 31 1998 573-595
48. Weinberg, J. A. (1995, Summer). Cycles in lending standards? Federal Reserve Bank of Richmond. Economic Review.
49. Williamson S. Transaction costs, inflation and the variety of intermediation services Journal of Money, Credit and Banking 19 1987 484-498