This paper utilizes Brazilian data to investigate interest-rate sensitivity and informational issues associated with the credit demand of the middle-income class in a large emerging economy. This study's data were collected ...

All things equal, interest rates should increase with the borrower's risk. And yet, Klapper, Laeven, and Rajan (2012) cannot find such a positive relation in a broad sample of trade credit contracts. We shed some light on ...

Credit ratings play an important role in the bond market, as the regulatory framework of this sector is based on ratings. A critical assumption is that the ratings of all the rating agencies are equivalent, ie, they exhibit ...

This study analyzes the impact of imminent reclassification of credit rating on the decision-making regarding capital structure of non-financial corporations listed in Latin America. Despite the importance attributed by ...

Consumer credit regulations usually require that lenders disclose interest rates. However, in the absence of specific prominence requirements, lenders can conceal the interest rate in the fine print while still complying ...

O presente trabalho analisa os determinantes do rating de crédito de emissor de longo prazo (long term issuer rating), em escala nacional, atribuídos pelas Agências Classificadoras Fitch, Moody’s e S&P (“CRAs”), a partir ...

This paper studies the effects of gender interactions on the supply of and demand for credit using data from a large Albanian lender. We document that first-time borrowers assigned to officers of the opposite sex are less ...

We investigate how public and private information affects corporate CDS spreads prior to rating announcements. First, CDS spreads of firms with high news intensity change significantly earlier and more strongly prior to ...