Commercial lending in different corporate governance systems

This thesis is concerned with corporate governance, or more accurately, about one of its many aspects. This thesis is about banks that finance firms and it is about the commercial loans that enterprises use to finance investments. It is not about shareholders, managerial remuneration or about the take-over market, some of the more topical aspects of corporate governance. Instead, this thesis focuses on an aspect of corporate governance that is remarkable for both its importance and the seemingly scant attention it attracts.