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Entrepreneurship and Credit Rationing: How to Screen Successful Projects in this Current Crisis Period

In: Entrepreneurship, Innovation and Economic Crisis

Author

Listed:
  • C. Mónica Capra

    (Emory University)

  • Irene Comeig

    (University of Valencia)

  • Matilde O. Fernández-Blanco

    (University of Valencia)

Abstract

The current credit rationing heavily influences entrepreneurship and, more dramatically, the viability of innovation projects. In this context, mechanisms to screen successful projects are of paramount importance for both lenders and entrepreneurs. We present an experiment to test the collateral-interest mechanism of credit screening. Our results confirm that incentive-compatible pairs of collateral-interest rate can distinguish between projects of different success probability, even in moral hazard settings.

Suggested Citation

  • C. Mónica Capra & Irene Comeig & Matilde O. Fernández-Blanco, 2014. "Entrepreneurship and Credit Rationing: How to Screen Successful Projects in this Current Crisis Period," Springer Books, in: Klaus Rüdiger & Marta Peris Ortiz & Alicia Blanco González (ed.), Entrepreneurship, Innovation and Economic Crisis, edition 127, chapter 0, pages 139-147, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-02384-7_15
    DOI: 10.1007/978-3-319-02384-7_15
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    Cited by:

    1. Comeig, Irene & Fernández-Blanco, Matilde O. & Ramírez, Federico, 2015. "Information acquisition in SME's relationship lending and the cost of loans," Journal of Business Research, Elsevier, vol. 68(7), pages 1650-1652.

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