Credit markets under asymmetric information regarding the law

Niinimaki J-P.

首页> 外文期刊>The North American journal of economics and finance >Credit markets under asymmetric information regarding the law

【24h】

Credit markets under asymmetric information regarding the law

机译：关于法律的不对称信息下的信贷市场

获取原文

获取原文并翻译 | 示例

掌桥外文数据库（机构版） >>

开具论文收录证明 >>

文献代查 >>

页面导航

摘要
著录项
相似文献
相关主题

摘要

This theoretical paper shows that asymmetric information regarding the law generates the same problems as the standard form of asymmetric information: credit rationing, underinvestment, and overinvestment. Collateral or personal guarantees eliminate these problems efficiently under the standard form of asymmetric information, but they are rather inefficient under asymmetric information regarding the law. It is optimal to create a centralized financial intermediary, a bank, which procures legal expertise and evaluates the legal risks on behalf of depositors who lack this legal expertise. The bank provides fundamental asset transformation services to the economy by transforming complex loans (requiring legal expertise) into simple deposits (which do not require legal expertise).

机译：本文纸张表明，关于法律的不对称信息产生与非对称信息的标准形式相同的问题：信用配给，投资和过度投资。抵押品或个人保障在不对称信息的标准形式下有效地消除了这些问题，但在法律上的信息不对称下，它们在不对称的信息下相当效率。创建集中金融中介，银行是最佳的，该银行采购法律专业知识，并代表缺乏这种法律专业知识的存款人评估法律风险。本行通过将复杂的贷款（要求法律专业知识）转化为简单的存款（不需要法律专业知识），为经济提供基本资产转型服务。

著录项

来源
《The North American journal of economics and finance》 |2019年第1期|380-390|共11页
作者
Niinimaki J-P.;
展开▼
作者单位

Univ Turku Dept Econ Turku 20014 Finland;

展开▼
收录信息
原文格式 PDF
正文语种 eng
中图分类
关键词
Banking; Financial intermediation; Credit rationing; Collateral; Law and finance;

机译：银行业;金融中介;信贷配给;抵押品;法律和金融;

相似文献

外文文献
中文文献
专利

1. Credit markets under asymmetric information regarding the law [J] . Niinimaki J-P. The North American journal of economics and finance . 2019,第JANa期

机译：信息不对称的信贷市场
2. Credit Rationing in Medium-small Enterprises Credit Market under Asymmetric Information [J] . Jinke, Wu, Qingmei, 中国经济评论：英文版 . 2005,第002期

机译：信息不对称下中小企业信贷市场的信贷配给
3. Strategic credit sales to express retail under asymmetric default risk and stochastic market demand [J] . Wang Kai, Ding Peiqi, Zhao Ruiqing Omega . 2021,第Juna期

机译：在不对称违约风险和随机市场需求下表达零售业的战略信贷销售
4. Intra-Industry Credit Contagion Evidence from the Credit Default Swap Market and the Stock Market [C] . Gaiyan Zhang 2005 China International Conference in Finance (CICF 2005) . 2005

机译：信用违约掉期市场和股票市场的行业内信用传染证据
5. Ex-ante asymmetric information in credit markets and macroeconomic fluctuations. [D] . Ture, Hatice Elif. 2013

机译：信贷市场和宏观经济波动中的事前非对称信息。
6. A common risk factor in global credit and equity markets: An exploratory analysis of the subprime and the sovereign-debt crises [O] . Teresa Corzo, Laura Lazcano, Javier Márquez, 2020

机译：全球信贷和股票市场中的常见风险因素：对次贷和主权债务危机的探索性分析
7. Time varying and asymmetric effect between sovereign credit market and financial market: The asymmetric DCC model [O] . El Abed Riadh, Zardoub Amna 2017

机译：主权信用市场与金融市场之间的时变和非对称效应：非对称DCC模型
8. Asymmetric Information in Dynamic Contract Settings: Evidence from the Home Equity Credit Market. FDIC Center for Financial Research Working Paper, No. 2007-10 [R] . Agarwal, S., Ambrose, B. W., Chomsisengphet, S., 2007

机译：动态合约设置中的信息不对称：来自房屋净值信贷市场的证据。 FDIC金融研究中心工作文件，第2007-10号

Credit markets under asymmetric information regarding the law

摘要

著录项

相似文献

相关主题

期刊订阅