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La décision de prêt bancaire comme signal imparfait sur l'emprunteur

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  • Laurent Vilanova

Abstract

[eng] Deciding on loan granting, an imperfect signal of the borrower's creditworthiness . This article deals with the apparent paradox between financial literature highlighting the role of information transmission on banking decisions and court decisions that underline the weaknesses of such a signal. Many surveys show that decisions on loan granting send new information about the borrower and have an influence on the strategy adopted by other company partners (shareholders, other creditors, business partners, etc.). However, in some cases, information given is imperfect. It is therefore necessary to question the degree of control performed by banks as well as the criteria chosen for loan granting decisions. We thus show that decisions on loan granting do not depend exclusively on the borrower's quality. This alternate explanation helps to understand court decisions condemning banks which had overtly supported companies obviously deemed to failure. [fre] Cet article traite du paradoxe apparent entre une littérature financière stigmatisant le rôle de transmission d'information des décisions bancaires et une jurisprudence qui met en lumière les faiblesses de ce signal. De nombreuses études montrent que les décisions de crédit bancaire transmettent une information nouvelle sur l'emprunteur et influencent la stratégie adoptée par les autres partenaires de l'entreprise (actionnaires, autres créanciers, partenaires commerciaux...). Néanmoins, dans certains cas, l'information transmise est imparfaite. Il faut alors s'interroger sur l'intensité du contrôle exercé par les banques mais aussi sur les critères fondant la décision de crédit. Nous montrons ainsi que les décisions de prêt ne dépendent pas uniquement de la qualité de l'emprunteur. Cette explication alternative permet de comprendre la jurisprudence condamnant des banques ayant sciemment soutenu des entreprises irrémédiablement condamnées.

Suggested Citation

  • Laurent Vilanova, 1997. "La décision de prêt bancaire comme signal imparfait sur l'emprunteur," Revue d'Économie Financière, Programme National Persée, vol. 42(4), pages 217-244.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_1997_num_42_4_2365
    DOI: 10.3406/ecofi.1997.2365
    Note: DOI:10.3406/ecofi.1997.2365
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    1. Laurent Vilanova, 2000. "« Les déterminants du soutien abusif : une première approche empirique » Article paru dans Banque & Marchés n°47 Mai-Juin 2000 pp.42-56," Post-Print halshs-02418818, HAL.
    2. Jean-Daniel Guigou & Laurent Vilanova, 1999. "Les vertus du financement bancaire: fondements et limites," Revue Finance Contrôle Stratégie, revues.org, vol. 2(2), pages 97-133, June.
    3. Christine Pochet, 2001. "Le gouvernement de l'entreprise défaillante: étude de trente plans de continuation," Revue Finance Contrôle Stratégie, revues.org, vol. 4(2), pages 149-181, March.
    4. Yves Mard, 2005. "Vers Une Information Comptable Plus Transparente : L'Apport Des Recherches Portant Sur La Gestion Des Résultats Comptables," Post-Print halshs-00581229, HAL.
    5. Philippe Frouté, 2007. "Theoretical foundation for a debtor friendly bankruptcy law in favour of creditors," European Journal of Law and Economics, Springer, vol. 24(3), pages 201-214, December.
    6. Catherine Refait, 2005. "Soutien financier ou mise en faillite de l'entreprise? Comprendre la décision de la banque," Revue Finance Contrôle Stratégie, revues.org, vol. 8(1), pages 131-157, March.

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