Huang, Hsing-Hua; Lee, Han-Hsing - In: Journal of Banking & Finance 37 (2013) 2, pp. 324-340
This study theoretically and empirically investigates effects of product market competition on credit risk. We first … to the number of firms in an industry. The disparity of firm size in an industry is relevant to both product market … competition and credit risk, and we therefore extend the model to an asymmetric duopoly case. In particular, we demonstrate that …