The importance of being consulted

Alessandro Fedele () and Andrea Mantovani ()

Working Papers from University of Brescia, Department of Economics

Abstract: Does management consulting facilitate the access to credit for start-ups? This paper tries to answer the question by developing a moral hazard framework where a firm applies for a bank loan to implement a risky project. Conditions are derived under which credit is granted only if the bank hires a management consultant, even when the latter does not improve the business practice.

Date: 2010
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Journal Article: The Importance of Being Consulted (2010)
Working Paper: The Importance of Being Consulted (2010)
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Persistent link: http://EconPapers.repec.org/RePEc:ubs:wpaper:1010

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