Empirical Analysis of Corporate Credit Lines (Jimenez G., Lopez J., Saurina J.)

Bank Lending Bank-Borrower Relationships

Abstract Since bank credit lines are a major source of corporate funding, we examine the determinants of credit line usage with a comprehensive database of Spanish corporate credit lines. A line's default status is a key factor driving its usage, which increases as a firm's financial condition worsens. Line usage decreases by roughly 10% for each year of its life. Lender characteristics, such as the number and length of a firm's banking relationships, are found to affect a firm's usage decisions, and credit line usage is found to be inversely related to macroeconomic conditions.
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Libref/ Jimenez G., Lopez J., Saurina J. (2008) “Empirical Analysis of Corporate Credit Lines”, Banco de Espana Working Paper No. 0821, pp. 1-35
© Программирование — Александр Красильников, 2008
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