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The Role of Group Size and Correlated Project Outcomes in Group Lending

URN to cite this document:
urn:nbn:de:bvb:355-epub-365544
DOI to cite this document:
10.5283/epub.36554
Markheim, Marina
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License: Creative Commons Attribution 4.0
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Date of publication of this fulltext: 22 Jan 2018 17:49



Abstract

This paper analyzes contract efficiency with regard to correlated project realization and the size of the borrowers in group lending. Firstly, I show that under the standard assumption of independent project payoffs, the expected group cost of default decreases with group size. Secondly, I show that small groups can also optimize group efficiency if individual payoffs and credit risks are ...

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