Creditor Coordination with Social Learning and Endogenous Timing of Credit Decisions

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dc.contributor.author Schüle, Tobias de_DE
dc.date.accessioned 2007-01-16 de_DE
dc.date.accessioned 2014-03-18T10:02:38Z
dc.date.available 2007-01-16 de_DE
dc.date.available 2014-03-18T10:02:38Z
dc.date.issued 2006 de_DE
dc.identifier.other 284938726 de_DE
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-opus-27244 de_DE
dc.identifier.uri http://hdl.handle.net/10900/47520
dc.description.abstract In case of multiple source lending even solvent firms may be forced into bankruptcy due to uncoordinated credit withdrawals of their lenders. This paper analyzes whether a debtor firm can thwart such inefficient liquidations by offering creditors the option to delay their foreclosure decision rather than obliging them to simultaneous actions as suggested by Morris and Shin (2004). With this option, lenders can endogenously determine the timing of their credit decisions, trading off the informational benefit from waiting against the associated cost of delay. Our results state that the option to delay diminishes creditor coordination failure whenever the firm is expected to be in distress. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.classification Bankrott de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Global Games , Creditor Coordination Failure , Option to Delay , Social Learning en
dc.title Creditor Coordination with Social Learning and Endogenous Timing of Credit Decisions en
dc.type ResearchPaper de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
dcterms.DCMIType Text de_DE
utue.publikation.typ workingPaper de_DE
utue.opus.id 2724 de_DE
utue.opus.portal wiwidisk de_DE
utue.opus.portalzaehlung 307.00000 de_DE
utue.publikation.source Tübinger Diskussionsbeiträge der Wirtschaftswissenschaftlichen Fakultät ; 307 de_DE
utue.publikation.reihenname Tübinger Diskussionsbeitrag de_DE
utue.publikation.zsausgabe 307
utue.publikation.erstkatid 2136475-8

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