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Le rôle des garanties dans les prêts des banques françaises

  • Régis Blazy
  • Laurent Weill

This 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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Article provided by Dalloz in its journal Revue d'économie politique.

Volume (Year): 116 (2006)
Issue (Month): 4 ()
Pages: 501-522

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Handle: RePEc:cai:repdal:redp_164_0501
Contact details of provider: Web page: http://www.cairn.info/revue-d-economie-politique.htm

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