Empirical analysis of corporate credit lines

Gabriel Jimenez, Jose Lopez and Jesús Saurina ()

No 2007-14, Working Paper Series from Federal Reserve Bank of San Francisco

Abstract: Since bank credit lines are a major source of corporate funding and liquidity, we examine the determinants of credit line usage with a database of Spanish corporate credit lines. A line's default status is the primary factor driving its usage, which increases as a firm approaches default. Several lender characteristics suggest an important role for bank monitoring in firms' usage decisions. Credit line usage is found to be inversely related to macroeconomic conditions. Overall, while several factors influence corporate credit line usage, our analysis suggests that default and supply-side variables are the most important.

Keywords: Bank loans; Credit; Default (Finance) (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-ban
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
http://www.frbsf.org/publications/economics/papers/2007/wp07-14bk.pdf (application/pdf)

Related works:
Journal Article: Empirical Analysis of Corporate Credit Lines (2009)
Working Paper: Empirical analysis of corporate credit lines (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfwp:2007-14

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Working Paper Series from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().