The Borrower's Curse
Optimism, Finance and Entrepreneurship
Datos Bibliográficos
| ID | 9703633 |
|---|---|
| Autores | David de Meza (0000-0002-5638-8310, University of Exeter), Clive Southey (University of Guelph) |
| Año | 1996 |
| Volumen | 106 |
| Número | 435 |
| Páginas | 375 |
| Fecha de publicación | 1996-03-01 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.2307/2235253 |
| OpenAlex | W1547558188 |
| Idioma | EN |
| Citas recibidas | 33 |
| Referencias citadas | 10 |
This paper argues that most of the facts characterising small-scale businesses, including high failure rates, reliance on bank credit rather than equity finance, relatively low interest rate margins, and credit rationing, can be explained by a tendency for those who are excessively optimistic to dominate new entrants. Drawing on findings in psychology, we model entrants as relatively naive optimisers. Banks on the other hand are viewed as well informed and efficient processors of information
Credit rationing · Curse · Economics · Entrepreneurial finance · Entrepreneurship · Equity (law · Financial economics · Interest rate · Optimism · Political science · Corporate Finance and Governance · Economic theories and models · Finance · Financial Markets and Investment Strategies · Psychology
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| Obras citantes distintas | 33 |
|---|---|
| Citas por año | 1,18 |
| Intervalo de citas | 1998 - 2024 (27) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 33 |