Creditor Rights, Bank-Borrower Relationships and Bank Power

The authors thank Bo Becker (department editor), one anonymous associate editor, and two anonymous referees for invaluable suggestions. The authors are obliged to the bank, its Chief Executive Officer, Chief Risk Officer, and their teams for invaluable help in making the data available. This study has benefited from comments from Michela Altieri, Eli Amir, Tancredi Bianchi, Emilio Ficarra, René Garcia, Elisa Gazzani, Nicola Gennaioli, Georgios Kouretas, Rafael La Porta, Pia Helbing, Luigi Pellegrino, Vincenzo Pezone, Breno Sampaio, Armando Santus, Nicolas Serrano-Velarde, Andrei Shleifer, Andrea Sironi, Gregory Udell, Raman Uppal, Tom Vanacker, and seminar and conference participants at the American Finance Association meetings, Cambridge University, Copenhagen Business School, Edhec Business School, the European Finance Association meetings, London Business School, HEC Paris, NOVA Business School, Padua University, SKEMA Business School, University of Amsterdam, University of Naples–Federico II, and Tel Aviv University. Any mistakes are the sole responsibility of the authors.