The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Financial Intermediation, Loanable Funds, and The Real Sector
Open accessAbstract
We study an incentive model of financial intermediation in which firms as well as intermediaries are capital constrained. We analyze how the distribution of wealth across firms, intermediaries, and uninformed investors affects investment, interest rates, and the intensity of monitoring. We show that all forms of capital tightening (a credit crunch, a collateral squeeze, or a savings squeeze) hit poorly capitalized firms the hardest, but that interest rate effects and the intensity of monitoring will depend on relative changes in the various components of capital. The predictions of the model are broadly consistent with the lending patterns observed during the recent financial crises.
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Citations
Cites
Financial intermediation and delegated monitoring
Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476
Monetary policy, business cycles, and the behavior of small manufacturing firms
Gertler, M., & Gilchrist, S. (1994) · The Quarterly Journal of Economics · doi:10.2307/2118465 · Cited by 2,547
The role of venture capital in the creation of public companies
Barry, C. B., Muscarella, C. J., Peavy, J. W., & Vetsuypens, M. R. (1990) · Journal of Financial Economics · doi:10.1016/0304-405x(90)90064-7 · Cited by 1,167
Cited by
Private and Public Supply of Liquidity
Holmström, B., & Tirole, J. (1998) · Journal of Political Economy · doi:10.1086/250001 · Cited by 1,822
Self-citationFinTech and banking: What do we know?
Thakor, A. V. (2020) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2019.100833 · Cited by 1,378
Liquidity Shortages and Banking Crises
DIAMOND, D. W., & RAJAN, R. G. (2005) · The Journal of Finance · doi:10.1111/j.1540-6261.2005.00741.x · Cited by 874
Does Credit Competition Affect Small‐Firm Finance?
RICE, T., & STRAHAN, P. E. (2010) · The Journal of Finance · doi:10.1111/j.1540-6261.2010.01555.x · Cited by 684
Corporate ESG Profiles and Banking Relationships
Houston, J. F., & Shan, H. (2022) · The Review of Financial Studies · doi:10.1093/rfs/hhab125 · Cited by 560
Metadata
- Authors
- Holmstrom, B., & Tirole, J.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1997-08-01
- Volume
- 112
- Issue
- 3
- Pages
- 663-691
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2047582865
- Cited by
- 3,889
- References
- 3
- FWCI
- 48.43
- Type
- journal article
- Language
- en
- Open access
- green
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
