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Credit rationing and capital structure: a survey of empirical studies

Valentini, L. (1999) Credit rationing and capital structure: a survey of empirical studies , Southampton, UK Economics Division, School of Social Sciences, University of Southampton (Discussion Papers in Economics and Econometrics, 9905).

Record type: Monograph (Discussion Paper)


This survey is part of a project on The Financial Implications of Environmental Legislation. The purpose of it is to see how the problem of credit rationing, according to borrowers' characteristics, has been empirically estimated in some literature. The survey considers first allocation of credit from the lenders' side, and second demand of credit from the borrowers' side. Both commercial and consumers' loan markets have been considered. For commercial loan the availability of data made it possible to build up more appropriate models, providing a positive answer to the question whether borrowers are discriminated according to their characteristics. The same has not been possible for the commercial loan market, mainly because data on this are scarce. This made modelling of firms' and banks' behaviour more unsatisfactory.

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Published date: 1999


Local EPrints ID: 33140
PURE UUID: 78733bbd-5b4d-45f8-908c-e93231b88e95

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Date deposited: 10 May 2007
Last modified: 17 Jul 2017 15:53

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Author: L. Valentini

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