Secured Lending and Borrowers' Riskiness

Secured Lending and Asset Prices

Personal bankruptcy makes ...nancial contracts hard to enforce puts because it weakens the punishment technologies available to creditors. I consider a generic endowment economy in which agents trade a complete set of contingent claims. As in Alvarez and Jermann (2000), these contracts are not enforceable. In this model, when households default, they cannot be excluded from ...nancial markets b...

A Strategic Market Game with Secured Lending

We study stationary Markov equilibria for strategic, competitive games, in a market-economy model with one non-durable commodity, at money, borrowing/lending through a central bank or a money market, and a continuum of agents. These use at money in order to ooset random uctuations in their endowments of the commodity, are not allowed to borrow more than they can pay back (secured lending), and ...

A Stochastic Infinite-horizon Economy with Secured Lending, or Unsecured Lending and Bankruptcy

Lenders and Borrowers’ Strategies in Online Peer-to-peer Lending Market: an Empirical Analysis of Ppdai.com

We investigate key factors affecting lenders’ bidding strategies using three measurements for the popularity of loans: funding success, number of bids, and funding time. Also, we analyze borrowers’ strategy in three groups according to the level of their expertise of online Peer-to-Peer lending: novice borrowers, pure borrowers, and mixed borrowers (as both borrower and lender). We use data fro...

Economic conditions, lending competition, and evaluation effect of credit line announcements on borrowers ¬リニ

Article history: Received 13 October 2011 Accepted 26 December 2011 Available online 3 January 2012 This paper examines the determinants of the signaling effect of acquiring lines of credit (LCs) on borrower stock returns by testing the economic conditions and lending competitionhypotheses. The economic conditions hypothesis is tested by examining the loan cyclicality and handpicking effects. T...