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An analysis of loan default determinants: the Spanish case

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An analysis of loan default determinants: the Spanish case

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dc.contributor.author Climent Serrano, Salvador
dc.contributor.author Pavía Miralles, José Manuel
dc.contributor.author
dc.date.accessioned 2015-03-02T12:16:58Z
dc.date.available 2015-03-02T12:16:58Z
dc.date.issued 2014
dc.identifier.citation Climent Serrano, Salvador Pavía Mirralles, José Manuel 2014 An analysis of loan default determinants: the Spanish case Banks and bank systems 9 4 116 123
dc.identifier.uri http://hdl.handle.net/10550/42560
dc.description.abstract The Spanish financial system is experiencing a very turbulent economic period in which loan defaults has lived an unprecedented increasing period, going from being less than 1% in 2004 to levels of above 13% in 2013. The impact of this, along with other circumstances, has led to the greatest financial restructuring ever made to date in Spain, with important macroeconomic and microeconomic consequences. This paper studies the determinants of delinquency (loan default) in Spanish credit institutions for the period of 2004-2011 and introduces new variables that have been disclosed as relevant in the current financial crisis as well as others non-previously considered internal variables, such as hedging derivatives (which are having an increasingly greater importance in accounts of Spanish credit institutions). Among the most prominent variables that have had a significant impact on the increase of delinquency are, among external variables, house prices, unemployment rates and the number of companies declaring bankruptcy and, among internal variables, property investment, customer credits over active, interest rate, participated companies and solvency rates. The analysis also shows significant differences in delinquency¿s behavior between savings banks and banks and between credit institutions that needed recapitalization and those that did not.
dc.language.iso eng
dc.relation.ispartof Banks and bank systems, 2014, vol. 9, num. 4, p. 116-123
dc.subject Empreses
dc.title An analysis of loan default determinants: the Spanish case
dc.type journal article es_ES
dc.date.updated 2015-03-02T12:16:58Z
dc.identifier.idgrec 101729
dc.rights.accessRights open access es_ES

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