What drives the time to resolution of defaulted bank loans?

被引：7

作者：

Betz, Jennifer ^{[1
]}

Kellner, Ralf ^{[1
]}

Roesch, Daniel ^{[1
]}

机构：

[1] Univ Regensburg, Chair Stat & Risk Management, Univ Str 31, D-93040 Regensburg, Germany

来源：

FINANCE RESEARCH LETTERS | 2016年 / 18卷

关键词：

credit risk; bankruptcy; resolution of financial distress; time to resolution; resolution bias; GIVEN-DEFAULT; REORGANIZATION; CHAPTER-11; BANKRUPTCY; DURATION; DISTRESS; FIRMS;

D O I：

10.1016/j.frl.2016.03.013

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Using a unique data base of Global Credit Data with individual loan information from small and medium sized entities in Germany, Great Britain and the United States, we evaluate the time to resolution of defaulted loans. A comparison across countries reveals country specific drivers for the resolution time which can be explained fairly well by differences in the regulatory and legal framework. Lenders seem to be aware of these differences and adjust their lending behavior in the limits set by these bankruptcy systems of the countries. (C) 2016 Elsevier Inc. All rights reserved.

引用

页码：7 / 31

页数：25

共 27 条

[1] Does industry-wide distress affect defaulted firms? Evidence from creditor recoveries [J].