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Group Lending Model under Sequential Moves
http://hdl.handle.net/10069/32455
http://hdl.handle.net/10069/32455188466e3-8f13-48cc-9c0c-cd3e2250aaa4
名前 / ファイル | ライセンス | アクション |
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IJEF4_146.pdf (223.4 kB)
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Item type | 学術雑誌論文 / Journal Article(1) | |||||
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公開日 | 2013-06-25 | |||||
タイトル | ||||||
タイトル | Group Lending Model under Sequential Moves | |||||
言語 | ||||||
言語 | eng | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Group lending | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Ex-ante moral hazard | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Sequential moves | |||||
資源タイプ | ||||||
資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
資源タイプ | journal article | |||||
著者 |
Okura, Mahito
× Okura, Mahito× Zhang, Wei |
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抄録 | ||||||
内容記述タイプ | Abstract | |||||
内容記述 | We build a simple dynamic model to investigate the sequential group lending's ability to resolve the ex-ante moral hazard and under-monitoring problems among group members in comparison with simultaneous group lending. We found that the interest rates proposed by the lender are critical to the analytical results. If the interest rate is under certain parameter conditions, both the leader member and the follower member in sequential lending choose higher working effort levels even with the presence of lower peer monitoring in the second period. In this case, the arrangement of sequential lending is beneficial for mitigating the ex-ante moral hazard and under-monitoring problems. If the interest rate is higher than a level with certain parameter configurations, the leader member chooses higher working and monitoring effort levels, whereas the follower member chooses lower working and monitoring effort levels. We also found that the repayment rate in the sequential lending model is higher than that in the simultaneous lending model. | |||||
書誌情報 |
International Journal of Economics and Finance 巻 4, 号 5, p. 146-155, 発行日 2012-05-01 |
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出版者 | ||||||
出版者 | Canadian Center of Science and Education | |||||
ISSN | ||||||
収録物識別子タイプ | ISSN | |||||
収録物識別子 | 1916971X | |||||
EISSN | ||||||
収録物識別子タイプ | ISSN | |||||
収録物識別子 | 19169728 | |||||
DOI | ||||||
関連タイプ | isIdenticalTo | |||||
識別子タイプ | DOI | |||||
関連識別子 | 10.5539/ijef.v4n5p146 | |||||
権利 | ||||||
権利情報 | © Canadian Center of Science and Education | |||||
権利 | ||||||
権利情報 | This work is licensed under a Creative Commons Attribution 3.0 License. | |||||
著者版フラグ | ||||||
出版タイプ | VoR | |||||
出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
引用 | ||||||
内容記述タイプ | Other | |||||
内容記述 | International Journal of Economics and Finance, 4(5), pp.146-155; 2012 |