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Models of Bank Financing of Czech Corporations and Credit Risk

In: CNB Financial Stability Report 2008/2009

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Author Info

  • Adam Gersl
  • Petr Jakubik

Abstract

This article presents the results of an analysis of data on individual bank loans of non-financial corporations in the Czech Republic taken from the CNB’s Central Register of Credits. It focuses on the question of how firms obtain financing from domestic banks. The results show that the vast majority of non-financial corporations use the services of just one relationship lender. Small and young firms in technology- and knowledge-intensive industries tend to concentrate their credit needs in a single bank, whereas less creditworthy firms and firms in cyclical industries tend to borrow from more than one bank. It also turns out that the level of credit risk at bank level decreases in line with the extent to which firms applying single relationship banking occur in the bank’s portfolio.

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Bibliographic Info

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This chapter was published in: Adam Gersl & Petr Jakubik CNB Financial Stability Report 2008/2009, , chapter Thematic Article 3, pages 92-101, 2009.

This item is provided by Czech National Bank, Research Department in its series Occasional Publications - Chapters in Edited Volumes with number fsr0809/3.

Handle: RePEc:cnb:ocpubc:fsr0809/3

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References

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  1. Bolton, Patrick & Scharfstein, David S, 1996. "Optimal Debt Structure and the Number of Creditors," Journal of Political Economy, University of Chicago Press, vol. 104(1), pages 1-25, February.
  2. Elsas, Ralf, 2005. "Empirical determinants of relationship lending," Journal of Financial Intermediation, Elsevier, vol. 14(1), pages 32-57, January.
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Cited by:
  1. Roman Horvath & Anca Maria Podpiera, 2009. "Heterogeneity in Bank Pricing Policies: The Czech Evidence," Working Papers 2009/8, Czech National Bank, Research Department.

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