Default Risk and Product Market Competition (notice n° 546548)
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|---|---|
| fixed length control field | 01210cam a2200157 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121114137.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Le Pape, Nicolas |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Default Risk and Product Market Competition |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2015.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 10 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The strategic impact of debt on the firms’ behavior in the product market was originally investigated by Brander and Lewis [1986]. They have shown that debt increases the level of competition in the industry. However, the lending policy of an increasing number of banks is based on an assessment of the borrower’s ability to repay the loan (scoring methods). The objective of this paper is to revisit models developed in Industrial Organization which focus on the strategic function of debt by recognizing a strategic function to the risk of default. We show that the strategic use of a default risk (instead of a level of debt) makes the firm more aggressive in the product market.Classification JEL : G32, L13, L22. |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue économique | 66 | 6 | 2015-10-21 | p. 1089-1104 | 0035-2764 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-economique-2015-6-page-1089?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-revue-economique-2015-6-page-1089?lang=en&redirect-ssocas=7080</a> |
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