중동부유럽
연구정보
[경제] Movables as Collateral and Corporate Credit: Loan-Level Evidence from Legal Reforms across Europe
중동부유럽 일반 국외연구자료 연구보고서 - CEPR 발간일 : 2022-07-27 등록일 : 2022-08-31 원문링크
Does pledging movables as collateral alter corporate borrowing? To answer this question, we study the effect of collateral law reforms on syndicated bank loans granted across nine European countries that facilitated pledging movables between 1995 and 2019, comparing them to nineteen countries that did not. We find that although the reforms have enabled firms to issue more secured loans, the average cost of the loans and the number of covenants has also increased. Banks may demand more to compensate for both the potential wealth redistribution induced by newly issued secured credit and the extra monitoring involved to mitigate concerns about using movables as collateral.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
| 이전글 | [경제] Natural Gas in Europe: The Potential Impact of Disruptions to Supply | 2022-08-14 |
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| 다음글 | [정치] Historical Political Geography: Theory and Evidence for Europe 1000-1800 | 2022-08-31 |
