Credit Constraints, Heterogeneous Firms and Loan Defaults

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F13%3A43908639" target="_blank" >RIV/62156489:43110/13:43908639 - isvavai.cz</a>

Výsledek na webu

<a href="http://aeconf.com/Articles/May2013/aef140103.pdf" target="_blank" >http://aeconf.com/Articles/May2013/aef140103.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Credit Constraints, Heterogeneous Firms and Loan Defaults

Popis výsledku v původním jazyce

In light of the recent financial and economic crisis the present paper analyzes the determinants of loan default. We employ a unique firm-level panel data of 700 bank loans given to small and medium sized enterprises in Slovakia between 2000 and 2005 toinvestigate three loan default hypotheses. Testing the Sector-Risk Hypothesis, we find that agri-food industry does not exhibit a higher default rate than other sectors. Testing the Firm-Risk Hypothesis, we find that highly indebted firms. are more likely to default on their loan than other firms. Testing the EU Subsidy Hypothesis we find that the newly introduced subsidy system, which is decoupled from production, provides a secure source of income and hence reduces the probability of loan default.

Název v anglickém jazyce

Credit Constraints, Heterogeneous Firms and Loan Defaults

Popis výsledku anglicky

In light of the recent financial and economic crisis the present paper analyzes the determinants of loan default. We employ a unique firm-level panel data of 700 bank loans given to small and medium sized enterprises in Slovakia between 2000 and 2005 toinvestigate three loan default hypotheses. Testing the Sector-Risk Hypothesis, we find that agri-food industry does not exhibit a higher default rate than other sectors. Testing the Firm-Risk Hypothesis, we find that highly indebted firms. are more likely to default on their loan than other firms. Testing the EU Subsidy Hypothesis we find that the newly introduced subsidy system, which is decoupled from production, provides a secure source of income and hence reduces the probability of loan default.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2013

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Annals of Economics and Finance

ISSN

1529-7373

e-ISSN

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Svazek periodika

14

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

CN - Čínská lidová republika

Počet stran výsledku

16

Strana od-do

53-68

Kód UT WoS článku

000317535300003

EID výsledku v databázi Scopus

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