The author finds evidence that lines of credit secured by accounts receivable are associated with business borrowers with a high risk of default. While an unsecured short-term loan is repaid from the borrower's future cash flow, a loan secured by accounts receivable (a unique form of "inside" collateral) is repaid from previously generated and observed sales (the borrower's trade credit terms to its customers). Consequently, lenders that secure accounts...
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تفاصيل
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2001/2/28
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ورقة عمل خاصة ببحوث السياسات
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WPS2544
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1
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1
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2010/7/01
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The uniqueness of short-term collateralization
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account receivable
تنزيل الملفات
تقرير كامل
نسخة رسمية من الوثيقة (قد تضم توقيعات، الخ)
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