Artikel
The Pricing of Small Business Loans
A major difficulty in determining the appropriate risk premium for lending to small businesses is the lack of market value information. This paper develops a mean-variance model that uses available failure rate data to establish a benchmark risk premium for lending to firms in specific industries. This model incorporates the benefits of diversifying across firms and industries. This paper also presents evidence that a random walk model provides the best forecast of future failure rates.
- Sprache
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Englisch
- Erschienen in
-
Journal: Journal of Small Business Finance ; ISSN: 1057-2287 ; Volume: 3 ; Year: 1994 ; Issue: 3 ; Pages: 249-260 ; Greenwich, CT: JAI Press
- Klassifikation
-
Management
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Firm Performance: Size, Diversification, and Scope
Bankruptcy; Liquidation
- Thema
-
Small Business
Loan Pricing
Interest rates
Borrowing
- Ereignis
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Geistige Schöpfung
- (wer)
-
Ford, John K.
- Ereignis
-
Veröffentlichung
- (wer)
-
JAI Press
- (wo)
-
Greenwich, CT
- (wann)
-
1994
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Ford, John K.
- JAI Press
Entstanden
- 1994
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