The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Loan Commitment Contracts, Terms of Lending, and Credit Allocation
Abstract
This paper analyzes the structure of loan commitment contracts and the interrelationships among their component parameters. Lenders offer borrowers a set of loan “packages,” from which the latter may choose that “package” found to be most appealing. Borrowers may “trade off” changes in any loan parameter in exchange for other adjustments. The borrower, at this time, may “purchase” a larger credit ration for a price. Supporting empirical evidence is presented.
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“Loan commitments provide protection for the borrower against credit rationing or credit crunches that are based on general market conditions, rather than speci®c, identi®able, legally defensible deteriorations in the individual borrower's condition (Melnik and Plaut, 1986;So®anos et al., 1990;Avery and Berger, 1991a;Berger and Udell, 1992;Morgan, 1994Morgan, , 1998)).”
From The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle (1998) · cites this paper as Melnik and Plaut, 1986
Citations
Cites
Credit Rationing in Markets with Imperfect Information
Stiglitz, J. E., & Weiss, A. (1981) · Columbia University · doi:10.7916/d8v12ft1 · Cited by 12,769
Flagged first, then by citations
Research works printed but not linked: 12
- Arzac Enrique R., 1981, A Theory and Test of Credit Rationing: Some Further Results, American Economic Review, 71, 735
- Azzi Corry F., 1976, A Theory and Test of Credit Rationing: Comment, American Economic Review, 66, 911
- 10.1016/0304-3932(82)90055-1 · DOI
- 10.1111/j.1540-6261.1982.tb03589.x · DOI
- 10.2307/1882705 · DOI
- 10.2307/1885327 · DOI
- 10.2307/2331057 · DOI
- 10.1016/0378-4266(83)90046-8 · DOI
- 10.1016/S0378-4266(81)80001-5 · DOI
- 10.2307/1992092 · DOI
- 10.1016/0378-4266(82)90022-X · DOI
- 10.1016/S0378-4266(81)80004-0 · DOI
Cited by
Sorted by citations
N. Berger, A., & F. Udell, G. (1998) · Journal of Banking & Finance · doi:10.1016/s0378-4266(98)00038-7 · Cited by 3,690
Some evidence on the empirical significance of credit rationing
Berger, A. N., & Udell, G. F. (1992) · Journal of Political Economy · doi:10.1086/261851 · Cited by 550
Metadata
- Authors
- MELNIK, A., & PLAUT, S.
- Affiliations
- Technion – Israel Institute of Technology (IL)
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1986-06
- Volume
- 41
- Issue
- 2
- Pages
- 425-435
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2131720621
- Cited by
- 161
- References
- 1
- Citations by year
- 2025: 2 · 2024: 2 · 2023: 9 · 2022: 5 · 2021: 4 · 2020: 4 · 2019: 5 · 2018: 6 · 2017: 6 · 2016: 6 · 2015: 6 · 2014: 8 · 2013: 5 · 2012: 12
- FWCI
- 3.04
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- The Journal of Finance (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Banking stability, regulation, efficiency
- Social Sciences › Economics, Econometrics and Finance › Finance › Credit Risk and Financial Regulations
- Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Keywords
- credit allocation, credit rationing, bank lending
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