I am a Ph.D. candidate in Finance at the Stern School of Business, New York University.
I am a Ph.D. candidate in Finance at the Stern School of Business, New York University. |
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"Banking Relationships and Supply-Chain Relationships" (Job market paper)
Abstract:
The paper examines the impact of banking relationships on the formation of supply-chain relationships among
bank borrowers. Common banks might reduce the holdup risk associated with buyer-supplier relationships
due to their role as monitors, or they might mitigate search frictions as a result of their private information
about and attachment to their borrowers. At the same time, banks' role as information intermediaries can
exacerbate holdup risk, impeding the formation of vertical relationships. Moreover, the formation of supply-chain
networks, as opposed to arm's length transactions, results in a potential loss of diversi cation bene ts
for the bank. Using data on customer-supplier relationships from the Compustat segment files, I find that
common lending relationhips increase the probability of a supplier being selected to form a new supply-chain
relationship.
"Conflicts in Bankruptcy and the Sequence of Debt Issues" (with A. Bris, A. Ravid and R. Sverdlove)
Email: gcoicule 'at' stern.nyu.edu
Office Phone: 212-998-0380
Cell: 212-518-4345