Karolin Kirschenmann's Article Credit Rationing in Small Business Bank Relationships Accepted for Journal of Financial Intermediation
The article "Credit rationing in small firm-bank relationships" is published at the Journal of Financial Intermediation
The article "" focuses on credit rationing in small firm-bank relationships by using a unique data set of matched loan applications and contracts. The author establishes the degree of credit rationing by relating a firm's requested loan amount to the bank's granted amount. In line with theoretical predictions, credit rationing is higher for opaque than transparent firms at the beginning of their bank relationships and decreases over time for both. After testing for several alternative explanations, the results suggest that information and incentive problems explain the observed credit rationing and its dynamics.
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New Academy Research Fellows and Academy Projects
A total of 44 Aalto researchers received Academy Research Fellowship and Academy Project funding from the Research Council of Finland – congratulations to all!
Aalto University's Wood Studio's future visions of Finland's most valuable wood are presented at the Finnish Forest Museum Lusto
Curly birch – the tree pressed by the devil – exhibition will be on display in Lusto until March 15, 2026.
Spring term open science highlight: Aalto Open Science Award Ceremony
We gathered at A Grid to celebrate the awardees of the Aalto Open Science Award 2024 and discuss open science topics with the Aalto community.