초록 열기/닫기 버튼
The non-performing loan ratio of small and medium-sized enterprises is expected to be more sensitive to changes in domestic and foreign financial conditions than the one of large companies, however there is a lack of related research. Therefore this study analyzed the difference in determinants of non-performing loan ratios by credit categories based on the Louzis, Vouldis and Metaxas (2012). The analysis demonstrated that the non-performing loan ratio of domestic financial institutions is in negative relation to the real GDP growth rate, stock price index and foreign debt, in positive relation to the real estate interest rate, unemployment and exchange rate. In analyzing with the bank-specific variables, it founds that the non-performing loan ratio is positively related with the profitability of the financial institutions, negatively related with the cost efficiency and equity ratio. According to results by the credit categories, the non-performing loan ratio of small businesses is more responsive to macroeconomic variables and bank-specific variables as we expected.
