The Optimal Concentration of Creditors

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Are good or bad borrowers discouraged from applying for loans? Evidence from US small business credit markets (2009, background): “Concentrated relationships may signal higher borrower quality (Bris and Welch, 2005) and help to overcome the free-rider problem (Holmstrom, 1982; Márquez, 2002).”
Creditor Concentration: An Empirical Investigation (2012, unknown): “Bris and Welch (2005) argue that due to free-riding and coordination problems dispersed creditors face difficulties collecting their claims during bankruptcy.”
The Costs of Bankruptcy: Chapter 7 Liquidation versus Chapter 11 Reorganization (2006, background): “Still, this may point to coordination problems (e.g., Bris and Welch (2005)).”
Public Information and Coordination: Evidence from a Credit Registry Expansion (2011, unknown): “The results also suggest that limiting lender coordination failures is a rst order force in the trade-o¤ rms face when choosing the concentration of creditors (Dewatripont and Maskin (1995), Bolton and Scharfstein (1996), and Bris and Welch (2005)).”