DETERMINANTS OF COLLATERAL

@inproceedings{Jimenez2004DETERMINANTSOC,
  title={DETERMINANTS OF COLLATERAL},
  author={Gabriel Jimenez and Vicente Salas and Jes{\'u}s Saurina},
  year={2004}
}
This paper investigates the factors that determine the use of collateral in time series and cross-section data on the population of banks’ loans to Spanish firms every year from 1984 to 2002 (over two million loans). Using the record of actual loan defaults of borrowers as a measure of credit quality, we find that the use of collateral is higher in loans to low credit quality borrowers. The likelihood of collateral is also higher when the lender is a small bank, when the lender is a savings… CONTINUE READING

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