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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2108/203
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Full metadata record
| DC Field | Value | Language |
|---|
| contributor.author | Hainz, Christa | - |
| contributor.author | Kleimeier, Stefanie | - |
| coverage.temporal | 1980-2003 | en |
| date.accessioned | 2006-02-07T12:26:32Z | - |
| date.available | 2006-02-07T12:26:32Z | - |
| date.issued | 2004-01-13 | - |
| identifier.uri | http://hdl.handle.net/2108/203 | - |
| description.abstract | Why do bank grant project finance loans to borrowers in risky countries? Our double moral hazard model predicts that project finance is optimal if the degree of moral hazard of the firm’s manager is high and either the project faces high levels of political risk or the bank has influence
over the political risk exposure of the project. Using a global and a transition economy sample of project finance loans from 1980 to 2003, we find empirical support of our predictions regarding firm moral hazard and political risk. Regarding the bank’s role only the influence of the IFC is significant. | en |
| format.extent | 568090 bytes | - |
| format.mimetype | application/pdf | - |
| language.iso | en | en |
| publisher | CEIS | en |
| relation.ispartofseries | Quaderni CEIS; 197 | - |
| subject | project finance | en |
| subject | syndicated loans | en |
| subject | political risk | en |
| subject | international finance | en |
| subject | double moral hazard | en |
| subject | transition economies | en |
| subject.classification | SECS-P/11; Economia degli intermediari finanziari | en |
| title | Political risk in syndicated lending: theory and empirical evidence regarding the use of project finance | en |
| type | Article | en |
| subject.jel | D82; Asymmetric and private information | en |
| subject.jel | F34; International lending and debt problems | en |
| subject.jel | G21; Banks, other depository institutions, mortgages | en |
| subject.jel | G32; Financing policy, capital and ownership structure | en |
| title.release | 2nd. rev. ed. | - |
| Appears in Collections: | Quaderni
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Files in This Item:
| File |
Description |
Size | Format |
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| 197 Hainz_Kleimeier_CEIS_13jan04.pdf | | 554Kb | Adobe PDF | View/Open |
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