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Year 2017, , 264 - 279, 30.09.2017

Arzu Sahin

https://doi.org/10.17261/Pressacademia.2017.686

Abstract

References

  • Atanasijević, J., & Božović, M. 2016, “Exchange rate as a determinant of corporate loan defaults in a euroized economy: Evidence from micro-level data”, Eastern European Economics, 54(3), 228-250. doi:10.1080/00128775.2015.1137198.
  • Beck, T., Lin, C., & Ma, Y. 2014, “Why Do Firms Evade Taxes? The Role Of Information Sharing And Financial Sector Outreach”, Journal of Finance, 69 (2), 763-817. doi:10.1111/jofi.12123.
  • Berge, T. O., & Boye, K. G. 2007, “An analysis of banks' problem loans”, Economic Bulletin, (2), 65. .http://static.norges- ank.no/pages/60660/an_analysis_of_bank's_problem_loans_Economic_Bulletin_2_2007-2.pdf
  • Berger, A., & DeYoung, R. 1997, “Problem loans and cost efficiency in commercial banks”, Journal of Banking and Finance, 21(6), 849-870. doi:10.1016/S0378-4266(97)00003-4.
  • Boss, M. 2002, A Macroeconomic credit risk model for stress testing the Austrian credit portfolio. In Oesterreichische Nationalbank (Eds.), Financail Stability Report 4 (pp. 64-82). Vienna: Oesterreichische Nationalbank, Printing Office
  • Brown, M., & Zehnder, C. 2007, “Credit Reporting, relationship banking, and loan repayment”, Journal of Money, Credit and Banking, (8). 1883-1918.
  • Brown, M., Jappelli, T., & Pagano, M. 2009, “Information sharing and credit: Firm-level evidence from transition countries”, Journal of Financial Intermediation, 18, 151-172. doi:10.1016/j.jfi.2008.04.002.
  • Büyükkarabacak, B., & Valev, N. 2012, “Credit information sharing and banking crises: An empirical investigation”, Journal of Macroeconomics, 34 (3), 788-800. doi:10.1016/j.jmacro.2012.03.002.
  • Cifter, A., Yilmazer, S., & Cifter, E. 2009, “Analysis of sectoral credit default cycle dependency with wavelet networks: Evidence from Turkey”, Economic Modelling, 26, 1382-1388.
  • Daly, K. & Vo, X.V. 2013, “The determinants of home bias puzzle in equity portfolio investment in Australia”, International Rewiew of Financial Analysis, 27, 34-42.
  • Dierkes, M., Erner, C., Langer, T., & Norden, L. 2013, “Business credit information sharing and default risk of private firms”, Journal of Banking and Finance, 37, 2867-2878. doi:10.1016/j.jbankfin.2013.03.018.
  • Djankov, S., McLiesh, C., & Shleifer, A. 2007, “Private credit in 129 countries”, Journal of Financial Economics, 84, 299-329. doi:10.1016/j.jfineco.2006.03.004.
  • Doblas, M. A., & Minetti, R. 2013, “Sharing information in the credit market: Contract-level evidence from US firms”, Journal of Financial Economics, 109(1), 198-223.
  • Doing Business. 2017, “Doing Business 2017, Getting Credit: Credit information. Casting a wide net to expand financial inclusion. 58-64”, http://www.doingbusiness.org/reports/case-studies/2016/gc-credit-info 31.01.2017.
  • Fofack, H. 2005, “Non-Performing loans in Sub-Saharan Africa: Causal analysis and macroeconomic implications”, World Bank Policy Research Working Paper No. 3769, World Bank, Washington.
  • Giannetti, C., & Jentzsch, N. 2013, “Credit reporting, financial intermediation and identification systems: International evidence”, Journal of International Money and Finance, 33, 60-80. doi:10.1016/j.jimonfin.2012.10.005.
  • Güriş, S., Çağlayan, E. & Güriş, B. 2013, Eviews ile temel ekonometri. İstanbul: Der Kitabevi. ISBN:978-975-353-370-6.
  • Houston, J. F., Lin, C., Lin, P., & Ma, Y. 2010, “Creditor rights, information sharing, and bank risk taking”, Journal of Finanial Economics, 96, 485-512. doi:10.1016/j.jfineco.2010.02.008.
  • International Finance Corporation. 2012, “Credit Reporting Knowledge Guide.1-120”, http://www.ifc.org, 14.02.2017.
  • Isik, O., & Bolat, S.2016, “Determinants of non-performing loans of deposit banks in Turkey”, Journal of Business, Economics and Finance, 5 (4), 341-350. ISSN: 2146 – 7943.
  • Jaffee, D. M., & Russell, T. 1976, “Imperfect information, Uucertainty and credit rationing”, The Quarterly Journal of Economics, 4, 651-666.
  • Jakubik, P., & C. Schmieder. 2008, “Stress testing credit risk: Comparison of the Czech Republic and Germany”, Working paper, Bank for International Settlements, Financial Stability Institute, Basel, Switzerland. http://www.bis.org, 15.02.2017.
  • Jappelli, T., & Pagano, M. 2002, “Information sharing, lending and defaults: Cross-country evidence”, Journal of Banking And Finance, 26, 2017-2045. doi:10.1016/S0378-4266(01)00185-6.
  • Jiménez, G., & J. Saurina. 2006, “Credit cycles, credit risk, and prudential regulation”, International Journal of Central Banking, 2 (2):65–98. http://www.ijcb.org/journal/ijcb06q2a3.pdf.
  • Kallberg, J. G., & Udell, G. F. 2003, “The value of private sector business credit information sharing: The US case”, Journal of Banking and Finance, 27, 449-469. doi:10.1016/S0378-4266(02)00387-4.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2003, “Governance matters III: Governance indicators for 1996-2002”. Washington: World Bank.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2008, “Governance matters VII: Aggregate and individual governance Indicators for 1996-2007”, Worldbank Policy Research Working Paper, No. 4654.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2009, “Governance Matters VIII: Aggregate and individual governance indicators for 1996-2008”, Worldbank Policy Research Working Paper, No. 4978.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2010, “The Worldwide Governance Indicators: A Summary of Methodology, Data and Analytical Issues”, World Bank Policy Research Working Paper, No. 5430.
  • La Porta, R., Lopez-De-Silanes, F., Shleifer, A. & Vishny, R. W. 1997, “Legal determinants of external finance”, Journal of Finance, 52 (3), 1131–1150.
  • Lyman, T., Lythgoe,T., Miller, M., Reille, M. & Sankaranarayan., S.2011, “Credit reporting at the base of the pyramid: Key Issues and Success Factors. FORUM 1”, Washington, D.C.: CGAP and IFC.
  • Long, J. S. & Ervin, L. H. 2000, “Using heteroscedasticity consistent standard errors in the linear regression model”, The American Statistician, 54 (3), 217-224.
  • Louzis, D. P., Vouldis, A. T., & Metaxas, V. L. 2012, “Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios” Journal of Banking & Finance, (4). 1012.
  • Miller, M. 2003, Credit reporting around the globe: the state of the art in public credit registries and private credit reporting firms. In: Miller, M. (Ed.), Credit Reporting Systems and International Economy. MIT Press, Cambridge, MA, pp. 25–80.
  • Padilla, A.J., & Pagano, M. 1997, “Endogenous communication among lenders and entrepreneurial incentives”, The Review of Financial Studies, 10 (1). 205-236.
  • Padilla, A.J., & Pagano, M. 2000, “Sharing default information as a borrower discipline device”, European Economic Review, 44(10), 19511980. doi:10.1016/S0014-2921(00)00055-6.
  • Pagano, M., & Jappelli, T. 1993, “Information sharing in credit markets”, Journal of Finance, 48(5), 1693-1718.
  • Peria, M.S.M., & Singh, S. 2014, “ The impact of credit information sharing reforms on firm financing”, Policy Research Working Paper;No. 7013. World Bank Group, Washington, DC. © World Bank.
  • Powell, A., Mylenko,N., Miller, M., & Majnoni G. 2004, “Improving credit ınformation, bank regulation and supervision: On the role and design of public credit registries”, World Bank Policy Research Working Paper 3443.
  • Ranjan, R., &S. C. Dhal. 2003, “Non-performing loans and terms of credit of public sector banks in India: An Empirical Assessment”, Occasional Papers 24, No. 3, Reserve Bank of India, Mumbai, India.
  • Rinaldi, L., & Sanchis, A. A. 2006, “Household debt sustainability: What explains household non-performing loans? An empirical analysis”, ECB Working Paper.
  • Salas, V., & Saurina, J. 2002, “Credit risk in two institutional regimes: Spanish commercial and savings banks”, Journal of Financial Services Research, (3), 203.
  • Stiglitz, J. E., & Weiss, A. 1981, “Credit rationing in markets with imperfect information”, The American Economic Review, 71 (3). 393-410.
  • Şahin, A., Doğukanlı, H., & Şengül, S. 2016, “Determinants of equity home bias in Turkey”, Journal of Accounting and Finance, 72, 163-186. ISSN: 2146-3042.
  • White, H. 1980, “A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity”, Econometrica, 48 (4), 817–838.
  • World Bank. 2011, “General principles for credit reporting”, Washington DC: World Bank. http://siteresources.worldbank.org/FINANCIALSECTOR/Resources/Credit_Reporting_text.pdf, 06.04.2017
  • Yağcılar, G.G. & Demir, S. 2015, “Determination of the factors effecting non-performing loans in Turkish banking sector”, International Journal of Alanya Faculty of Business, 7 (1), 221-229. Web references
  • http://www.doingbusiness.org, 23. 02.2017 http://www.doingbusiness.org/Methodology/Getting-Credit, 31.01.2017 http://www.doingbusiness.org/reports/case-studies/2016/gc-credit-info, 31.01.2017
  • http://www.doingbusiness.org/data/exploretopics/getting-credit, 23.02.2017
  • http://www.doingbusiness.org/reports/global-reports/doing-business-2017, 12.06.2017
  • http://data.worldbank.org, 23.02.2017
  • http://data.worldbank.org/indicator/FB.AST.NPER.ZS?view=chart, 23.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.PCAP.CD?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.MKTP.CD?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/SL.UEM.TOTL.ZS?view=chart, 12.06.2017
  • http://data.worldbank.org/indicator/FR.INR.RINR?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/FB.BNK.CAPA.ZS?view=chart, 24.02.2017
  • http://info.worldbank.org/governance/wgi/#home, 20.02.20017 http://info.worldbank.org/governance/wgi/#doc, 30.05.2017 www.govindicator.org, 30.05.2017
  • http://siteresources.worldbank.org/INTWBIGOVANTCOR/Resources/govmatters3_wber.pdf, 04.07.2017
  • https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/60613.pdf, 15.02.2017

NON-FINANCIAL CREDIT INFORMATION SHARING AND NON-PERFORMING LOANS: AN ANALYSIS USING DOING BUSINESS DATABASE

Year 2017, , 264 - 279, 30.09.2017

Arzu Sahin

https://doi.org/10.17261/Pressacademia.2017.686

Abstract

Purpose- This paper suggests that sharing of credit information from
non-financial information sources decrease the non-performing loan rate. To
analyze whether the differences in non-financial information sharing across
countries have any effect on the percentage of nonperforming loan, a sample of
55 countries from Doing Business 2017 is analyzed.

Methodology- Cross
section regressions on country level data for the year 2015 is estimated by
Ordinary Least Squares Method.

Findings- Analysis findings reveal that availability of non-financial
credit information from retails and utilities companies, as addition to
financial sources, in a credit reporting institution lower the bank
non-performing loan rates.

Conclusion- It can be concluded that the payment behavior
reported by non-financial information providers can cause to a reduction in
information asymmetries between lenders and borrowers.  

Keywords

Credit information sharing non-financial information comprehensive credit reporting non-performing loans

References

  • Atanasijević, J., & Božović, M. 2016, “Exchange rate as a determinant of corporate loan defaults in a euroized economy: Evidence from micro-level data”, Eastern European Economics, 54(3), 228-250. doi:10.1080/00128775.2015.1137198.
  • Beck, T., Lin, C., & Ma, Y. 2014, “Why Do Firms Evade Taxes? The Role Of Information Sharing And Financial Sector Outreach”, Journal of Finance, 69 (2), 763-817. doi:10.1111/jofi.12123.
  • Berge, T. O., & Boye, K. G. 2007, “An analysis of banks' problem loans”, Economic Bulletin, (2), 65. .http://static.norges- ank.no/pages/60660/an_analysis_of_bank's_problem_loans_Economic_Bulletin_2_2007-2.pdf
  • Berger, A., & DeYoung, R. 1997, “Problem loans and cost efficiency in commercial banks”, Journal of Banking and Finance, 21(6), 849-870. doi:10.1016/S0378-4266(97)00003-4.
  • Boss, M. 2002, A Macroeconomic credit risk model for stress testing the Austrian credit portfolio. In Oesterreichische Nationalbank (Eds.), Financail Stability Report 4 (pp. 64-82). Vienna: Oesterreichische Nationalbank, Printing Office
  • Brown, M., & Zehnder, C. 2007, “Credit Reporting, relationship banking, and loan repayment”, Journal of Money, Credit and Banking, (8). 1883-1918.
  • Brown, M., Jappelli, T., & Pagano, M. 2009, “Information sharing and credit: Firm-level evidence from transition countries”, Journal of Financial Intermediation, 18, 151-172. doi:10.1016/j.jfi.2008.04.002.
  • Büyükkarabacak, B., & Valev, N. 2012, “Credit information sharing and banking crises: An empirical investigation”, Journal of Macroeconomics, 34 (3), 788-800. doi:10.1016/j.jmacro.2012.03.002.
  • Cifter, A., Yilmazer, S., & Cifter, E. 2009, “Analysis of sectoral credit default cycle dependency with wavelet networks: Evidence from Turkey”, Economic Modelling, 26, 1382-1388.
  • Daly, K. & Vo, X.V. 2013, “The determinants of home bias puzzle in equity portfolio investment in Australia”, International Rewiew of Financial Analysis, 27, 34-42.
  • Dierkes, M., Erner, C., Langer, T., & Norden, L. 2013, “Business credit information sharing and default risk of private firms”, Journal of Banking and Finance, 37, 2867-2878. doi:10.1016/j.jbankfin.2013.03.018.
  • Djankov, S., McLiesh, C., & Shleifer, A. 2007, “Private credit in 129 countries”, Journal of Financial Economics, 84, 299-329. doi:10.1016/j.jfineco.2006.03.004.
  • Doblas, M. A., & Minetti, R. 2013, “Sharing information in the credit market: Contract-level evidence from US firms”, Journal of Financial Economics, 109(1), 198-223.
  • Doing Business. 2017, “Doing Business 2017, Getting Credit: Credit information. Casting a wide net to expand financial inclusion. 58-64”, http://www.doingbusiness.org/reports/case-studies/2016/gc-credit-info 31.01.2017.
  • Fofack, H. 2005, “Non-Performing loans in Sub-Saharan Africa: Causal analysis and macroeconomic implications”, World Bank Policy Research Working Paper No. 3769, World Bank, Washington.
  • Giannetti, C., & Jentzsch, N. 2013, “Credit reporting, financial intermediation and identification systems: International evidence”, Journal of International Money and Finance, 33, 60-80. doi:10.1016/j.jimonfin.2012.10.005.
  • Güriş, S., Çağlayan, E. & Güriş, B. 2013, Eviews ile temel ekonometri. İstanbul: Der Kitabevi. ISBN:978-975-353-370-6.
  • Houston, J. F., Lin, C., Lin, P., & Ma, Y. 2010, “Creditor rights, information sharing, and bank risk taking”, Journal of Finanial Economics, 96, 485-512. doi:10.1016/j.jfineco.2010.02.008.
  • International Finance Corporation. 2012, “Credit Reporting Knowledge Guide.1-120”, http://www.ifc.org, 14.02.2017.
  • Isik, O., & Bolat, S.2016, “Determinants of non-performing loans of deposit banks in Turkey”, Journal of Business, Economics and Finance, 5 (4), 341-350. ISSN: 2146 – 7943.
  • Jaffee, D. M., & Russell, T. 1976, “Imperfect information, Uucertainty and credit rationing”, The Quarterly Journal of Economics, 4, 651-666.
  • Jakubik, P., & C. Schmieder. 2008, “Stress testing credit risk: Comparison of the Czech Republic and Germany”, Working paper, Bank for International Settlements, Financial Stability Institute, Basel, Switzerland. http://www.bis.org, 15.02.2017.
  • Jappelli, T., & Pagano, M. 2002, “Information sharing, lending and defaults: Cross-country evidence”, Journal of Banking And Finance, 26, 2017-2045. doi:10.1016/S0378-4266(01)00185-6.
  • Jiménez, G., & J. Saurina. 2006, “Credit cycles, credit risk, and prudential regulation”, International Journal of Central Banking, 2 (2):65–98. http://www.ijcb.org/journal/ijcb06q2a3.pdf.
  • Kallberg, J. G., & Udell, G. F. 2003, “The value of private sector business credit information sharing: The US case”, Journal of Banking and Finance, 27, 449-469. doi:10.1016/S0378-4266(02)00387-4.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2003, “Governance matters III: Governance indicators for 1996-2002”. Washington: World Bank.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2008, “Governance matters VII: Aggregate and individual governance Indicators for 1996-2007”, Worldbank Policy Research Working Paper, No. 4654.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2009, “Governance Matters VIII: Aggregate and individual governance indicators for 1996-2008”, Worldbank Policy Research Working Paper, No. 4978.
  • Kaufman, D., Kraay, A. & Mastruzzi, M. 2010, “The Worldwide Governance Indicators: A Summary of Methodology, Data and Analytical Issues”, World Bank Policy Research Working Paper, No. 5430.
  • La Porta, R., Lopez-De-Silanes, F., Shleifer, A. & Vishny, R. W. 1997, “Legal determinants of external finance”, Journal of Finance, 52 (3), 1131–1150.
  • Lyman, T., Lythgoe,T., Miller, M., Reille, M. & Sankaranarayan., S.2011, “Credit reporting at the base of the pyramid: Key Issues and Success Factors. FORUM 1”, Washington, D.C.: CGAP and IFC.
  • Long, J. S. & Ervin, L. H. 2000, “Using heteroscedasticity consistent standard errors in the linear regression model”, The American Statistician, 54 (3), 217-224.
  • Louzis, D. P., Vouldis, A. T., & Metaxas, V. L. 2012, “Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios” Journal of Banking & Finance, (4). 1012.
  • Miller, M. 2003, Credit reporting around the globe: the state of the art in public credit registries and private credit reporting firms. In: Miller, M. (Ed.), Credit Reporting Systems and International Economy. MIT Press, Cambridge, MA, pp. 25–80.
  • Padilla, A.J., & Pagano, M. 1997, “Endogenous communication among lenders and entrepreneurial incentives”, The Review of Financial Studies, 10 (1). 205-236.
  • Padilla, A.J., & Pagano, M. 2000, “Sharing default information as a borrower discipline device”, European Economic Review, 44(10), 19511980. doi:10.1016/S0014-2921(00)00055-6.
  • Pagano, M., & Jappelli, T. 1993, “Information sharing in credit markets”, Journal of Finance, 48(5), 1693-1718.
  • Peria, M.S.M., & Singh, S. 2014, “ The impact of credit information sharing reforms on firm financing”, Policy Research Working Paper;No. 7013. World Bank Group, Washington, DC. © World Bank.
  • Powell, A., Mylenko,N., Miller, M., & Majnoni G. 2004, “Improving credit ınformation, bank regulation and supervision: On the role and design of public credit registries”, World Bank Policy Research Working Paper 3443.
  • Ranjan, R., &S. C. Dhal. 2003, “Non-performing loans and terms of credit of public sector banks in India: An Empirical Assessment”, Occasional Papers 24, No. 3, Reserve Bank of India, Mumbai, India.
  • Rinaldi, L., & Sanchis, A. A. 2006, “Household debt sustainability: What explains household non-performing loans? An empirical analysis”, ECB Working Paper.
  • Salas, V., & Saurina, J. 2002, “Credit risk in two institutional regimes: Spanish commercial and savings banks”, Journal of Financial Services Research, (3), 203.
  • Stiglitz, J. E., & Weiss, A. 1981, “Credit rationing in markets with imperfect information”, The American Economic Review, 71 (3). 393-410.
  • Şahin, A., Doğukanlı, H., & Şengül, S. 2016, “Determinants of equity home bias in Turkey”, Journal of Accounting and Finance, 72, 163-186. ISSN: 2146-3042.
  • White, H. 1980, “A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity”, Econometrica, 48 (4), 817–838.
  • World Bank. 2011, “General principles for credit reporting”, Washington DC: World Bank. http://siteresources.worldbank.org/FINANCIALSECTOR/Resources/Credit_Reporting_text.pdf, 06.04.2017
  • Yağcılar, G.G. & Demir, S. 2015, “Determination of the factors effecting non-performing loans in Turkish banking sector”, International Journal of Alanya Faculty of Business, 7 (1), 221-229. Web references
  • http://www.doingbusiness.org, 23. 02.2017 http://www.doingbusiness.org/Methodology/Getting-Credit, 31.01.2017 http://www.doingbusiness.org/reports/case-studies/2016/gc-credit-info, 31.01.2017
  • http://www.doingbusiness.org/data/exploretopics/getting-credit, 23.02.2017
  • http://www.doingbusiness.org/reports/global-reports/doing-business-2017, 12.06.2017
  • http://data.worldbank.org, 23.02.2017
  • http://data.worldbank.org/indicator/FB.AST.NPER.ZS?view=chart, 23.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.PCAP.CD?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.MKTP.CD?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/SL.UEM.TOTL.ZS?view=chart, 12.06.2017
  • http://data.worldbank.org/indicator/FR.INR.RINR?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG?view=chart, 24.02.2017
  • http://data.worldbank.org/indicator/FB.BNK.CAPA.ZS?view=chart, 24.02.2017
  • http://info.worldbank.org/governance/wgi/#home, 20.02.20017 http://info.worldbank.org/governance/wgi/#doc, 30.05.2017 www.govindicator.org, 30.05.2017
  • http://siteresources.worldbank.org/INTWBIGOVANTCOR/Resources/govmatters3_wber.pdf, 04.07.2017
  • https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/60613.pdf, 15.02.2017
There are 62 citations in total.

Details

Journal Section Articles
Authors

Arzu Sahin

Publication Date September 30, 2017
Published in Issue Year 2017

Cite

APA Sahin, A. (2017). NON-FINANCIAL CREDIT INFORMATION SHARING AND NON-PERFORMING LOANS: AN ANALYSIS USING DOING BUSINESS DATABASE. Journal of Business Economics and Finance, 6(3), 264-279. https://doi.org/10.17261/Pressacademia.2017.686

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