{"id":"https://openalex.org/W51452057","doi":"https://doi.org/10.1017/cbo9780511628610.009","title":"Credit rationing and collateral","display_name":"Credit rationing and collateral","publication_year":1986,"publication_date":"1986-09-11","ids":{"openalex":"https://openalex.org/W51452057","doi":"https://doi.org/10.1017/cbo9780511628610.009","mag":"51452057"},"language":"en","primary_location":{"id":"doi:10.1017/cbo9780511628610.009","doi":"https://doi.org/10.1017/cbo9780511628610.009","is_oa":false,"landing_page_url":"https://doi.org/10.1017/cbo9780511628610.009","pdf_url":null,"source":{"id":"https://openalex.org/S4306462995","display_name":"Cambridge University Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Recent Developments in Corporate Finance","raw_type":"book-chapter"},"volume":{"id":"https://openalex.org/W2104307021","display_name":"Recent Developments in Corporate Finance"},"type":"book-chapter","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5074218217","display_name":"Joseph Eug\u00e8ne Stiglitz","orcid":"https://orcid.org/0009-0002-5370-6798","observed_orcids":["https://orcid.org/0009-0002-5370-6798","https://orcid.org/0000-0001-6149-046X"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Joseph Stiglitz","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5103360489","display_name":"Andrew Weiss","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Andrew Weiss","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":25.7722,"has_fulltext":false,"cited_by_count":157,"citation_normalized_percentile":{"value":0.99409449,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":100},"biblio":{"volume":null,"issue":null,"first_page":"101","last_page":"135"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9086999893188477,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9086999893188477,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.04830000177025795,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.010599999688565731,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/credit-rationing","display_name":"credit rationing","score":1.0},{"id":"https://openalex.org/keywords/collateral","display_name":"collateral","score":0.9940000176429749},{"id":"https://openalex.org/keywords/capital-market-imperfections","display_name":"capital market imperfections","score":0.9559999704360962},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.902999997138977},{"id":"https://openalex.org/keywords/bank-lending","display_name":"bank lending","score":0.5249999761581421},{"id":"https://openalex.org/keywords/interest-rates","display_name":"interest rates","score":0.5580000281333923},{"id":"https://openalex.org/keywords/endogenous-market-structure","display_name":"endogenous market structure","score":0.42500001192092896},{"id":"https://openalex.org/keywords/institutional-economics","display_name":"institutional economics","score":0.5440000295639038},{"id":"https://openalex.org/keywords/information-costs","display_name":"information costs","score":0.49900001287460327}],"concepts":[{"id":"https://openalex.org/C2777910564","wikidata":"https://www.wikidata.org/wiki/Q694563","display_name":"Collateral","level":2,"score":0.7390122413635254},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7207716703414917},{"id":"https://openalex.org/C2778137473","wikidata":"https://www.wikidata.org/wiki/Q1787079","display_name":"Credit rationing","level":3,"score":0.7119762301445007},{"id":"https://openalex.org/C7991579","wikidata":"https://www.wikidata.org/wiki/Q17955","display_name":"Criticism","level":2,"score":0.6629006862640381},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.6080025434494019},{"id":"https://openalex.org/C2778661386","wikidata":"https://www.wikidata.org/wiki/Q5035708","display_name":"Capital market imperfections","level":3,"score":0.6046385765075684},{"id":"https://openalex.org/C158154518","wikidata":"https://www.wikidata.org/wiki/Q7310970","display_name":"Relevance (law)","level":2,"score":0.5752890706062317},{"id":"https://openalex.org/C2778137410","wikidata":"https://www.wikidata.org/wiki/Q2732820","display_name":"Government (linguistics)","level":2,"score":0.5273422002792358},{"id":"https://openalex.org/C133425853","wikidata":"https://www.wikidata.org/wiki/Q60571","display_name":"Neoclassical economics","level":1,"score":0.4539276957511902},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.41682565212249756},{"id":"https://openalex.org/C118084267","wikidata":"https://www.wikidata.org/wiki/Q26110","display_name":"Positive economics","level":1,"score":0.39541754126548767},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3733821511268616},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.3362537920475006},{"id":"https://openalex.org/C190253527","wikidata":"https://www.wikidata.org/wiki/Q295354","display_name":"Law and economics","level":1,"score":0.3303566575050354},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.22521352767944336},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.13399669528007507},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1307326853275299},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.09963488578796387},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C95457728","wikidata":"https://www.wikidata.org/wiki/Q309","display_name":"History","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1017/cbo9780511628610.009","doi":"https://doi.org/10.1017/cbo9780511628610.009","is_oa":false,"landing_page_url":"https://doi.org/10.1017/cbo9780511628610.009","pdf_url":null,"source":{"id":"https://openalex.org/S4306462995","display_name":"Cambridge University Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Recent Developments in Corporate Finance","raw_type":"book-chapter"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W4250133074","https://openalex.org/W6962299463","https://openalex.org/W658797364","https://openalex.org/W1574669946","https://openalex.org/W2059848767","https://openalex.org/W4413021842","https://openalex.org/W2021649382","https://openalex.org/W1546523058","https://openalex.org/W196577834","https://openalex.org/W2004469411"],"abstract_inverted_index":{"Introduction":[0],"For":[1],"generations,":[2],"economists":[3,21],"have":[4,22,152],"resorted":[5],"to":[6,165,183,224],"blaming":[7],"\u2018imperfections\u2019":[8],"in":[9,88,194,214],"the":[10,24,37,65,82,85,121,126,136,141,169,205,215,229],"capital":[11,41,122],"market":[12,69,131,171],"for":[13,163,221],"a":[14,111],"whole":[15],"host":[16],"of":[17,26,28,33,39,75,84,110,120,125,129,138,143,207,217],"phenomena,":[18],"and":[19,140,174,177,187,190],"institutional":[20,57],"criticized":[23],"relevance":[25],"much":[27],"traditional":[29],"neo\u2013classical":[30],"analysis":[31],"because":[32,223],"its":[34],"reliance":[35],"on":[36,64,168,211],"assumption":[38],"perfect":[40],"markets.":[42],"We":[43,48],"agree":[44],"with":[45],"that":[46,52,62,67,200],"criticism.":[47],"would":[49],"argue,":[50],"however,":[51],"economic":[53],"theory":[54],"should":[55],"\u2018explain\u2019":[56],"structures,":[58],"at":[59,115],"least":[60],"those":[61],"take":[63],"prominence":[66],"\u2018capital":[68],"imperfections\u2019":[70],"have.":[71],"These":[72],"are":[73,146],"matters":[74],"more":[76],"than":[77],"just":[78],"academic":[79],"interest:":[80],"if":[81],"nature":[83],"imperfections":[86,157],"are,":[87],"some":[89],"sense,":[90],"endogenous,":[91],"then":[92],"government":[93],"policies":[94],"may":[95,158,180],"well":[96],"affect":[97],"them;":[98],"they":[99,179,209,231],"cannot":[100],"simply":[101],"be":[102,133],"taken":[103,147],"as":[104],"given.":[105],"This":[106],"paper":[107],"is":[108],"part":[109],"research":[112],"program":[113],"aimed":[114],"explaining":[116],"certain":[117],"key":[118],"elements":[119],"market.":[123],"Many":[124],"central":[127],"aspects":[128],"this":[130],"can":[132],"understood":[134],"once":[135],"asymmetries":[137],"information,":[139],"costs":[142],"acquiring":[144],"information":[145],"into":[148],"account.":[149],"Earlier":[150],"studies":[151],"shown":[153],"how":[154],"these":[155],"informational":[156],"make":[159],"it":[160],"very":[161],"costly":[162],"firms":[164],"raise":[166,204],"funds":[167],"equity":[170],"(Greenwald,":[172],"Stiglitz":[173],"Weiss":[175,188],"(1984)),":[176],"why":[178],"give":[181],"rise":[182],"credit":[184],"rationing":[185],"(Stiglitz":[186],"(1981)":[189],"(1983)).":[191],"In":[192],"particular,":[193],"our":[195],"earlier":[196],"study,":[197],"we":[198],"argued":[199],"banks":[201],"might":[202,227],"not":[203],"rate":[206],"interest":[208],"charged":[210],"loans,":[212],"even":[213],"presence":[216],"an":[218],"excess":[219],"demand":[220],"credit,":[222],"do":[225],"so":[226],"lower":[228],"return":[230],"receive.":[232]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":43},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":8}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
