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The Role of Banks in Monitoring Firms

The Case of the Credit Mobilier

The Role of Banks in Monitoring Firms by Elisabeth Paulet
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This book addresses issues in the current literature on corporate finance using historical evidence. In particular it looks at the role of universal banks in relaxing the credit constraints of firms, supervising managers and stabilizing share prices. The key issues is whether the Anglo-American asset based financing is more efective than the main-bank approach used in Germany and Japan. Earlier studies have found that firms with a close relationship with a major bank have high market value compared to book value, although it is difficult to determine whether this is cause or effect
Taylor and Francis; January 2002
193 pages; ISBN 9781134646210
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Title: The Role of Banks in Monitoring Firms
Author: Elisabeth Paulet