Le rôle des garanties dans les prêts des banques françaises
AbstractThis paper provides new empirical evidence on the reasons why French banks use collateral. We test the relevance of the reduction of loan loss in the event of default and the resolution of adverse selection problems as satisfactory reasons for this use. We use a dataset of 564 bank loans on French firms, which contains the full information on type and value of collaterals. We then show that collateral reduces loan loss in the event of default with major differences between collaterals in terms of magnitude of the reduction. Furthermore our results reject the view that collateral would help to solve adverse selection problems.
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Bibliographic InfoArticle provided by Dalloz in its journal Revue d'économie politique.
Volume (Year): Volume 116 (2006)
Issue (Month): 4 ()
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Web page: http://www.cairn.info/revue-d-economie-politique.htm
bank; collateral; information asymmetries;
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- Cyril Pouvelle, 2012. "Bank credit, asset prices and financial stability: Evidence from French banks," IMF Working Papers 12/103, International Monetary Fund.
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