Evidence of Collateral, Asymmetric Information, Credit Risk, and Banking Regulations from Firms

Autor:	Kevin James Daly, Jianchun Miao
Rok vydání:	2012
Předmět:	Secondary mortgage market Collateral business.industry Collateralized debt obligation education Financial system Collateralized loan obligation Regulatory law Loan Retail banking Business General Economics Econometrics and Finance health care economics and organizations Credit risk
Zdroj:	The Chinese Economy. 45:21-37
ISSN:	1558-0954 1097-1475
DOI:	10.2753/ces1097-1475450202
Popis:	This article examines the determinants of a firm's proportion of collateralized loans within the context of Chinese firms. In particular, focus is placed on the effect of a new bank regulatory system on the firm's proportion of collateralized loans. The study found that a firm's proportion of collateralized loans is positively related to its level of credit risk and asymmetric information, and that this in turn is increasingly and significantly a consequence of the new banking regulatory law and guidelines of 2004. The results suggest that the new banking regulatory system has changed the way in which banks structure loan contracts in China.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::a523629b23a7e5308de529c28f06c058 https://doi.org/10.2753/ces1097-1475450202 Zobrazit plný text záznamu Plný text ve formátu PDF