Collateral-based in SME lending: The role of business collateral and personal collateral in less-developed countries
| Autor: | José Esperança, Ana Paula Matias Gama, Fábio Duarte |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
Less-developed countries
Collateral education Central asia Developing country Financial system Personal collateral 0502 economics and business Empirical evidence Private information retrieval health care economics and organizations Finance Business collateral 050208 finance business.industry Level of personal and business collateral 05 social sciences 1. No poverty Market concentration Collateral management Ciências Sociais::Economia e Gestão [Domínio/Área Científica] Loan Business Management and Accounting (miscellaneous) business 050203 business & management SMEs lending |
| Zdroj: | Repositório Científico de Acesso Aberto de Portugal Repositório Científico de Acesso Aberto de Portugal (RCAAP) instacron:RCAAP |
| ISSN: | 0275-5319 |
| DOI: | 10.1016/j.ribaf.2016.07.005 |
| Popis: | Using a database of banking credit approvals for small and medium-sized enterprises (SMEs) operating in less-developed countries throughout Eastern Europe and Central Asia, this paper extends empirical evidence on the determinants of the incidence and the levels of business and personal collateral, reporting first-hand results regarding the impact of the recently reformed credit environment on collateral requirements. The findings endorse the importance of producing and sharing private information between lenders to reduce informational asymmetries and, consequently, the need to provide collateral to receive a loan. The results also suggest that market concentration increases “lazy” behavior on behalf of banks in the form of asking for collateral not to mitigate observable risk but rather to reduce screening efforts. info:eu-repo/semantics/publishedVersion |
| Databáze: | OpenAIRE |
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