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Les déterminants du taux débiteur exigé par le crédit-bailleur : une étude empirique sur le marché français

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  • Marie-Christine Filareto

Abstract

[eng] Factors Determining Lending Rates in Leasing : an Empirical Study of the French Market . . In leasing , the lessor ’ s lending policy is based on a combined analysis of the lessee credit risk and the risk associated with the financed equipment . The absence of equipment risk may allow a lender to offer financing to a borrower whose financial situation is less solid , thus providing a solution for firms without access to traditional bank loans . Although the factors determining lessors ’ decisions to lend have been identified , their influence on lending rates has not been studied to the same extent . Our research , based on an empirical study of 70 leasing agreements , assesses the influence of equipment risk and lessee credit risk on the lessor ’ s lending rate . Key-words : leasing , interest rate , credit rationing [fre] Dans le cadre d ’ un financement par crédit-bail , la politique d ’ offre du crédit-bailleur repose sur une analyse conjointe du risque de signature du crédit-preneur et du risque associé au matériel financé . L ’ absence de «risque matériel » peut alors tempérer une moins bonne solidité financière du débiteur et permet le financement d ’ entreprises écartées du crédit bancaire traditionnel . Si les déterminants de la politique d ’ octroi du crédit-bail sont bien identifiés , leur influence dans la composition du taux débiteur est peu étudiée . Notre recherche évalue , dans le cadre d ’ une étude empirique conduite sur un échantillon de 70 contrats de crédit-bail , l ’ influence sur l ’ ampleur du taux débiteur exigé par le crédit-bailleur des deux dimensions risque «matériel » et risque de signature du crédit-preneur . Mots-clés : crédit-bail , taux débiteur , rationnement du crédit

Suggested Citation

  • Marie-Christine Filareto, 2004. "Les déterminants du taux débiteur exigé par le crédit-bailleur : une étude empirique sur le marché français," Économie et Prévision, Programme National Persée, vol. 162(1), pages 111-128.
    • Handle: RePEc:prs:ecoprv:ecop_0249-4744_2004_num_162_1_6936
    DOI: 10.3406/ecop.2004.6936
    Note: DOI:10.3406/ecop.2004.6936
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