Wybrane teorie umów kredytowych - przegląd badań
Theory of Loan Agreement: Overview of Studies

Summary/Abstract: The article reviews theoretical studies on the loan agreement. First, the results of researches in the area of the costly state verification models proving optimality of the standard debt contract in conditions of information asymmetry and existence of costs of verification of the debtor's outcomes were analysed. Followed by analysis of the models included in the mainstream of the incomplete contract theory, which assume unpredictability of nature and the need to take into account the role of collateral and the liquidation value on the loan repayment. The focus was also placed on researches taking into account the impact of debt renegotiation and long lender-borrower relationship on the behaviour of the borrower during the repayment of the debt.

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