Reexamining the empirical relation between loan risk and collateral:the roles of collateral liquidity and types

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Berger, Allen N.; Frame, W. Scott; Ioannidou, Vasso;

This paper offers a possible explanation for the conflicting results in the literature concerning the empirical relation between collateral and loan risk. We posit that differences in collateral characteristics, such as liquidity, may be associated with the empirical do... View more
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