Análisis del fallido en la financiación del emprendimiento. Una perspectiva temporal desde las Sociedades de Garantía Recíproca.

  1. Concepción de la Fuente-Cabrero 1
  2. Pilar Laguna Sánchez 1
  3. Mónica de Castro 2
  4. Rosa Santero Sánchez 1
  1. 1 Universidad Rey Juan Carlos
    info

    Universidad Rey Juan Carlos

    Madrid, España

    ROR https://ror.org/01v5cv687

  2. 2 Universidad Complutense de Madrid
    info

    Universidad Complutense de Madrid

    Madrid, España

    ROR 02p0gd045

Proceedings:
XXXIII AEDEM Annual Meeting
  1. Concepción de la Fuente-Cabrero
  2. Mónica de Castro
  3. Rosa Santero Sánchez
  4. Pilar Laguna Sánchez

Publisher: European Academic Publisher

ISBN: 978-84-09-11934-9

Year of publication: 2019

Pages: 1-17

Type: Conference paper

GOOGLE SCHOLAR

Abstract

Spanish Mutual Guarantee Institutions (SMGIs) facilitate credit toentrepreneurs through long-term guaranteed loans in a similar wayto Mutual Guarantee Institutions in other European countries.However, the loss given default of the new business projectsguaranteed by the SMGIs have not been studied in depth in Spain.This paper analyzes the situation at the end of 2018 of the portfolioof guarantees formalized with newly created companies by the sectorin 2003-2012. This period includes expansion and economic stabilityyears with others of deep economic recession. The objective of thiswork is to identify its annual evolution and the global average cost ofthe bankrupt, as well as the differences in said portfolio according tothe destination of the credit, the corporate form, the size companyand the activity sector. The results provide relevant information formanagers and Public Administrations on the total default, usefuleven for a possible distribution of coverage between the SGR and thestate or autonomous re-guarantee. The analysis shows that there aredifferences in the distribution of the default in the different variablesanalyzed. This could have implications in the contribution to thefunds destined to cover the bankrupt in the operations ofentrepreneurs.

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