relation: http://eprints.imtlucca.it/781/
title: Razionamento del credito e dimensioni di impresa
creator: Calcagnini, Giorgio
creator: Iacobucci, Donato
creator: Ticchi, Davide
subject: HB Economic Theory
subject: HD61 Risk Management
description: This paper examines the likelihood of credit rationing faced by firms of dif­ferent size. Cantrary 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/781/1/Ticchi_1998.pdf
identifier:   Calcagnini, Giorgio and Iacobucci, Donato and Ticchi, Davide  Razionamento del credito e dimensioni di impresa.  Moneta e credito, 202 (51).  pp. 197-214.  ISSN 0026-9611      (1998)