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INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION
The Journal of Finance · 1977 · Vol. 32(2) · pp. 371–387
Abstract
NUMEROUS MARKETS ARE characterized by informational differences between buyers and sellers. In financial markets, informational asymmetries are particularly pronounced. Borrowers typically know their collateral, industriousness, and moral rectitude better than do lenders; entrepreneurs possess "inside" information about their own projects for which they seek financing.
Fiscal Policy and Economic GrowthHousing Market and EconomicsFinancial Literacy, Pension, Retirement AnalysisFinancial intermediaryBusinessFinancial systemFinanceInformation asymmetryEconomics
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