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Overlapping Networks of Credit and Control

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dc.contributor.gruplacFacultad de Economía spa
dc.creatorBuchuk, David
dc.creatorLarrain, Borja
dc.creatorPrem, Mounu
dc.creatorUrzua I., Francisco
dc.date.accessioned2017-12-12T19:04:11Z
dc.date.available2017-12-12T19:04:11Z
dc.date.created2017-10
dc.date.issued2017
dc.description.abstractBusiness groups are networks of firms connected by ownership links. We study the reaction of these networks to the 2008-9 crisis using a unique dataset of Chilean intra-group loans. Internal credit increases swiftly during the crisis. Firms that are more central in the ownership network simultaneously increase lending and borrowing. Like pure intermediaries, central firms keep net lending relatively constant. Central firms do not experience a significant fall in profitability relative to the average group firm, although receivers of intra-group loans perform significantly better. Our results show that control rights are essential for credit intermediation at times of distress.eng
dc.format.extent58spa
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.48713/10336_14160
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/14160
dc.language.isoengspa
dc.relation.citationTitleSerie Documentos de trabajo. Economía
dc.relation.urihttps://ideas.repec.org/p/col/000092/015891.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto completo)spa
dc.source.instnameinstname:Universidad del Rosario
dc.source.reponamereponame:Repositorio Institucional EdocUR
dc.subjectGrupos de negociosspa
dc.subjectRedesspa
dc.subjectMercados internos de capitalspa
dc.subject.ddcFinanzas públicas
dc.subject.jelG32
dc.subject.keywordBusiness groupseng
dc.subject.keywordNetworkseng
dc.subject.keywordCentralityeng
dc.subject.keywordInternal capital marketseng
dc.subject.lembRelaciones industrialesspa
dc.subject.lembDeuda públicaspa
dc.subject.lembCrisis económica, 2008 -- Chilespa
dc.subject.lembIntermediación financieraspa
dc.titleOverlapping Networks of Credit and Controlspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaDocumento de trabajospa
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