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| The Effect of Collateral Security Condition on Small and Micro Enterprise Loan Interest Rate:Empirical Study Based on the Two-tier Stochastic Frontier Model |
| HUO Yuanyuan, FENG Zongxian, LIU Chun
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| School of Economics and Finance / Jinhe Center for Economic Research, Xi'an Jiaotong University |
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Abstract The paper builds up econometric model by two-tier stochastic frontier method which could measure the deviation degree of lending rate dominant power and its impact on banks and small and micro enterprise in collateral security loan market. The empirical analysis shows that enterprises meeting the demand of collateral make the actual rate lower than the benchmark price of 9.46%. The paper implies that banks rely on security too much to judge the quality of the enterprise, which are not only conductive to banks to prevent the credit risk of enterprise but also unfavorable to enterprises raise the availability of funds.
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Received: 12 May 2015
Published: 19 April 2018
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| Cite this article: |
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HUO Yuanyuan,FENG Zongxian,LIU Chun. The Effect of Collateral Security Condition on Small and Micro Enterprise Loan Interest Rate:Empirical Study Based on the Two-tier Stochastic Frontier Model[J]. Journal of Financial Research,
2015, 423(9): 112-127.
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| URL: |
| http://www.jryj.org.cn/EN/ OR http://www.jryj.org.cn/EN/Y2015/V423/I9/112 |
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