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Dilatoriness of the banking enterprise debt in Spain, 1992-2003
Ruano-Pardo, Sonia; Salas-Fumás, Vicente - Banco de España - 2006
This paper analyses the determinants of the default ratio associated to banking debt in Spanish non financial firms over the period 1992-2003. It studies the factors influencing firms' entering and exit processes in and out from the default status. Additionally, it explores the factors...
Persistent link: https://www.econbiz.de/10005590729
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Securization and banks´ capital structure
Almazan, Andres; Alfredo … - Banco de España - 2015
Asset securitization offers banks the possibility of altering their capital structures and the financial intermediation process. This study shows that the introduction of securitization is associated with fundamental changes in the funding policies of banks. In particular, we present evidence of...
Persistent link: https://www.econbiz.de/10011201724
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Collateral, type of lender and relationship banking as determinants of credit risk
Jiménez, Gabriel; Saurina, Jesús - Banco de España - 2004
role of a limited set of variables (collateral, type of lender and bank borrower relationship) while controlling for the …
Persistent link: https://www.econbiz.de/10005022225
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Credit market competition, collateral and firms' finance
Jiménez, Gabriel; Salas-Fumás, Vicente; Saurina, Jesús - Banco de España - 2006
firms of unobserved credit quality when firms pledge collateral to secure the loans. Loan data from the Spanish Credit … concentration (which is shown to be positively correlated with market power) and with the availability of collateral, although the … increase with the availability of collateral, but the increase is lower for banks operating in more concentrated credit markets …
Persistent link: https://www.econbiz.de/10005022289
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Credit cycles, credit risk, and prudential regulation
Jiménez, Gabriel; Saurina, Jesús - Banco de España - 2005
terms of screening of borrowers and in collateral requirements. Therefore, we confirm the predictions from theoretical …
Persistent link: https://www.econbiz.de/10005155236
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Organizational distance and use of collateral for business loans
Jiménez, Gabriel; Salas-Fumás, Vicente; Saurina, Jesús - Banco de España - 2008
grants a loan and the location of the borrower) on the use of collateral for business loans by Spanish banks on the basis of … the recent lender based theory of collateral [Inderst and Mueller (2007)]. We find that, for the average borrower, the use … of collateral is higher for loans granted by local lenders than by distant ones. We also show that the difference in the …
Persistent link: https://www.econbiz.de/10005155280
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When does cash matter? Evidence for private firms
Ehling, Paul; Haushalter, David - Banco de España - 2014
Using a database of more than 180,000 private companies from 2000 to 2009, we find that the benefits of holding more cash vary substantially with a firm’s size and the conditions it faces. Cash holdings matter most for small firms: when there are negative shocks to industry or macroeconomic...
Persistent link: https://www.econbiz.de/10010862263
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The impact of financial position on investment: an analysis for non-financial corporations in the euro area
Martínez-Carrascal, Carmen; Ferrando, Annalisa - Banco de España - 2008
This paper analyses the impact that firms' financial position has on investment decisions using panel data from a large sample of non-financial corporations (around 120,000 firms) in six euro area countries (Belgium, Germany, France, Italy, the Netherlands and Spain). The results indicate that...
Persistent link: https://www.econbiz.de/10005022228
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Delving into country risk
Iranzo, Silvia - Banco de España - 2008
Since the Latin American debt crisis of the early 80s, country risk analysis has accounted for a significant part of the work of research and risk management departments of banks, insurance companies, rating agencies, financial market regulators, and multinational companies. Country risk is a...
Persistent link: https://www.econbiz.de/10005022307
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Real exchange rates, dollarization and industrial employment in Latin America
Galindo, Arturo; Izquierdo, Alejandro; Montero, José M. - Banco de España - 2006
We use a panel dataset on industrial employment and trade for 9 Latin American countries for which liability dollarization data at the industrial level is available. We test whether real exchange rate fluctuations have a significant impact on employment, and analyze whether the impact varies...
Persistent link: https://www.econbiz.de/10005155245