How Law & Institutions Shape Financial Contracts : The Case of Bank Loans *

@inproceedings{Qian2004HowL,
  title={How Law & Institutions Shape Financial Contracts : The Case of Bank Loans *},
  author={Jun Qian and Philip E. Strahan},
  year={2004}
}
  • Jun Qian, Philip E. Strahan
  • Published 2004
We examine empirically how legal origins, creditor and property rights provided by the legal system, and quality of institutions including government, courts, bankruptcy procedure, and accounting systems affect the design of bank loan contracts. Our results support the law and finance view that private contracts reflect differences in legal protection of creditors and properties, as well as the efficiency in the enforcement of contracts and the quality of information. The results also provide… CONTINUE READING
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