Credit Rationing with Symmetric Information

Without denying the importance of asymmetric information, this article purports the view that credit rationing may also originate from a lender's inability to classify loan applicants in proper risk categories. This effect is particularly strong when novel technologies are involved. Furthermore, its relevance may increase with the importance assigned to internal rating systems by the Basel accord. This article presents a measure of the inadequacy of a lender's classification criteria to the qualitative features of prospective borrowers. Even without information asymmetries, credit rationing may occur if this quantity reaches too high a value. Furthermore, some general principles are outlined, that may be used by lenders in order to change their classification criteria

Conversatorio con él profesor Andrew Zacharakis del Batson College. (Conversatorio Aula Máxima)

El conversatorio trato del emprendimiento empresarial y su participación en el mercado, en el que participaron profesores y estudiantes. (Conversatorio Aula Máxima

Entrepreneurship

613.;xviii.;25 c

Entrepreneurship

xii, 593 p. ; 26 cm