摘要：The goal of this paper is to evaluate the determinants of collateral requirement by the lender in the formal entrepreneurial sector of the Brazilian economy in the short-run horizon. The results indicate that the probability of using collateral is higher among borrowers with lower credit quality and borrowers who fulfill past financial promises. In addition, higher competition and rivalry in the credit market increase the probability of collateral utilization in short-run loans. Such evidence corroborates recent findings of the literature in the sense that the determinants of collateral requirement in financial loans might be distinct among different credit markets.
其他摘要：The goal of this paper is to evaluate the determinants of collateral requirement by the lender in the formal entrepreneurial sector of the Brazilian economy in the short-run horizon. The results indicate that the probability of using collateral is higher among borrowers with lower credit quality and borrowers who fulfill past financial promises. In addition, higher competition and rivalry in the credit market increase the probability of collateral utilization in short-run loans. Such evidence corroborates recent findings of the literature in the sense that the determinants of collateral requirement in financial loans might be distinct among different credit markets.
关键词：Collateral;Commercial loans;Financial sector;Panel data;Colateral;Empréstimos comerciais;Setor financeiro;Dados em Painel
其他关键词：Collateral; Commercial loans; Financial sector; Panel data
