The uniqueness of short-term collateralization / Leora Klapper
A secured letter-of-credit loan allows a lender to make larger loans than would be permissible on an unsecured basis, maximizing a risky borrower's investment capital. Empirical evidence shows that secured letters of credit are used by borrowers who are informationally opaque and have higher ob...
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| Main Authors: | Klapper, Leora |
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| Corporate Authors: | World Bank |
| Format: | Online-Resource |
| Language: | English |
| Published: | Washington, D.C : World Bank, Development Research Group, Finance, 2001 |
| Series: | Policy research working paper
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| Subjects: | |
| Online Access: | URL des Erstveröffentlichers |
| Summary: | A secured letter-of-credit loan allows a lender to make larger loans than would be permissible on an unsecured basis, maximizing a risky borrower's investment capital. Empirical evidence shows that secured letters of credit are used by borrowers who are informationally opaque and have higher observable risk. Such borrowers also have fewer growth opportunities and are less likely to pay dividends |
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| Item Description: | "February 2001"--Cover. - Includes bibliographical references (p. 32-33). - Title from title screen as viewed on Sept. 18, 2002 Erscheinungsjahr in Vorlageform:[2001] Weitere Ausgabe: Klapper, Leora : The uniqueness of short-term collateralization |
| Physical Description: | 1 Online-Ressource (44 Seiten) |
