relation: http://eprints.imtlucca.it/2223/
title: Credit rationing and firm size
creator: Calcagnini, Giorgio
creator: Iacobucci, Donato
creator: Ticchi, Davide
subject: HB Economic Theory
description: This paper examines the likelihood of credit rationing faced by firms of different size. Contrary to common thought, several recent contributions on this topic argue that, when rationing credit, size alone is not a sufficient condition for discriminating between firms. We show that this result can be predicted using a framework based on the Stiglitz-Weiss model. In particular, in an environment of asymmetric information, we highlight how the likelihood of credit rationing depends upon the shape of the distribution function of project returns, especially its asymmetry and Kurtosis. Our empirical results do not support the hypothesis that small firms face more credit rationing than larger firms.
publisher: Associazione Paolo Sylos Labini
date: 1998
type: Article
type: PeerReviewed
format: application/pdf
language: en
identifier: http://eprints.imtlucca.it/2223/1/Moneta%26Credito_1998.pdf
identifier:   Calcagnini, Giorgio and Iacobucci, Donato and Ticchi, Davide  Credit rationing and firm size.  Moneta e credito, 51 (202).  pp. 198-214.  ISSN 0026-9611      (1998)