Stock image for illustration purposes only - book cover, edition or condition may vary.
Competition in Credit Markets
Michael Troge
€ 63.07
FREE Delivery in Ireland
Description for Competition in Credit Markets
Paperback. Series: Beitrage Zur Betriebswirtschaftlichen Forschung. Num Pages: 130 pages, 2 black & white illustrations, biography. BIC Classification: KFF; PBUD. Category: (P) Professional & Vocational. Dimension: 210 x 148 x 7. Weight in Grams: 210.
Since the 1960's, the foundations of finance have either been pure arbitrage or principal agent relationships. This study leaves the Modigliani -Miller world of pure arbitrage -but not the world of equilibria -and turns the principal-agent world upside down. Here the firrns become principals again and banks become agents in the original sense of the word: they act on an auction market. This new view of credit relationships yields a number of interesting insights. In my opinion the most important result is that too close relationships between banks and their borrowers will reduce credit market competition. Michael Tröge thus gives ... Read more
Since the 1960's, the foundations of finance have either been pure arbitrage or principal agent relationships. This study leaves the Modigliani -Miller world of pure arbitrage -but not the world of equilibria -and turns the principal-agent world upside down. Here the firrns become principals again and banks become agents in the original sense of the word: they act on an auction market. This new view of credit relationships yields a number of interesting insights. In my opinion the most important result is that too close relationships between banks and their borrowers will reduce credit market competition. Michael Tröge thus gives ... Read more
Product Details
Format
Paperback
Publication date
2001
Publisher
Deutscher Universitats-Verlag Germany
Number of pages
130
Condition
New
Series
Beitrage Zur Betriebswirtschaftlichen Forschung
Number of Pages
117
Place of Publication
Wiesbaden, Germany
ISBN
9783824490486
SKU
V9783824490486
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
About Michael Troge
Dr. Michael Tröge promovierte bei Prof. Dr. Dr. h.c. mult. Horst Albach am Institut für Unternehmenstheorien und -politik der Humboldt-Universität zu Berlin. Er ist derzeit als Dozent an der ESCP-EAP / European School of Management Paris tätig.
Reviews for Competition in Credit Markets