کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5056657 1371652 2010 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Default rates in the loan market for SMEs: Evidence from Slovakia
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Default rates in the loan market for SMEs: Evidence from Slovakia
چکیده انگلیسی

Financial markets in emerging economies are often perceived as more risky than those in developed countries. We investigate whether this is true for loans to SMEs using a unique unbalanced panel of nearly 700 loans made to SMEs in Slovakia between 2000 and 2005. Several probit and panel probit models show that liquidity and profitability factors are important determinants of SME defaults. Moreover, we find that indebtedness significantly increases the probability of default. Liability as proxied by the legal form of SMEs has important incentive effects. Finally, there exist significant differences between sectors. We show that default rates and factors converged to values found in developed financial markets.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Systems - Volume 34, Issue 2, June 2010, Pages 133-147
نویسندگان
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