A supply chain consists of many stakeholders such as suppliers, carriers and customers. It is
often complex due to the rapid development of economic globalization and the intense …

This paper surveys existing explanations for the pervasive use of collateral in credit markets
and relates them to the empirical evidence on the subject. Collateral may be used as a …

We study an incentive model of financial intermediation in which firms as well as
intermediaries are capital constrained. We analyze how the distribution of wealth across …

Originally published in 1994, this text analyses the key issues that influence the growth and
development of small businesses. Looking at the concept in which they operate, the book …

The second edition of an essential text on the microeconomic foundations of banking
surveys the latest research in banking theory, with new material that covers recent …

In this paper, we analyze empirically the relation between the growth of new technology-
based firms and the human capital of founders, with the aim of teasing out the “wealth” and …

Highly variable returns, asymmetric information and a lack of collateral should cause small
high‐tech firms to have poor access to debt. New equity financing has several advantages …

The cost of enforcing contracts is a key determinant of market performance. We document
this point with reference to the credit market in a model of opportunistic debtors and …

We analyze contract choices, loan-repayment behavior, and welfare in a model of a
competitive credit market when borrowers have a taste for immediate gratification …

Blockchain is an emerging decentralized architecture and distributed computing paradigm
and has recently attracted intensive attention from all sectors of society. This paper sets up a …