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    Default resolution and access to fresh credit in an emerging market

    250815.pdf (468.2Kb)
    Access Status
    Open access
    Authors
    Hussain, Inayat
    Durand, Robert
    Harris, Mark N.
    Date
    2016
    Type
    Journal Article
    
    Metadata
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    Citation
    Hussain, I. and Durand, R. and Harris, M.N. 2016. Default resolution and access to fresh credit in an emerging market. Pacific Basin Finance Journal. 39: pp. 256-274.
    Source Title
    Pacific Basin Finance Journal
    DOI
    10.1016/j.pacfin.2016.06.009
    ISSN
    0927-538X
    School
    Department of Finance and Banking
    URI
    http://hdl.handle.net/20.500.11937/51473
    Collection
    • Curtin Research Publications
    Abstract

    We examine loan defaults by firms and identify the factors that influence both the default resolution process and firms' access to fresh credit after firms exit default. Using a dataset of all commercial loans made in Pakistan from 2006 to 2013, we find an important role for collateral. Collateral expedites both the default resolution process and access to fresh credit after exiting default. Higher interest rates increase the default duration. Relationships with multiple lenders as well as those with multiple branches of one lender are associated with obtaining fresh credit at the post default stage.

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