Present studies show you to dual people-that’s, associations you to definitely while doing so hold collateral and you will loans of the same organization-internalize the shareholder-creditor argument and you will bring about extra alignment between them functions (Jiang mais aussi al. However, mitigation of your stockholder-collector dispute will come at the cost of releasing a unique disagreement one of financial institutions. Loan providers carrying high collateral bet within the borrower businesses might have most different incentives than just loan providers holding really small or no collateral limits. That it dispute between financial institutions is ergo apply at ex boyfriend-ante debt contracting and you may ex-blog post obligations renegotiation. Within current paper, we strive to analyze brand new impression of your conflict away from welfare certainly one of syndicate participants induced by dual carrying. 继续阅读 →