%0 Journal Article
%@ 0026-9611
%A Calcagnini, Giorgio
%A Iacobucci, Donato
%A Ticchi, Davide
%D 1998
%F eprints:781
%I Associazione Paolo Sylos Labini
%J Moneta e credito
%N 51
%P 197-214
%T Razionamento del credito e dimensioni di impresa
%U http://eprints.imtlucca.it/781/
%V 202
%X 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.
%Z Associazione PSL ©1998