Riesgo de crédito : un análisis desde las firmas
Temas de Estabilidad Financiera ; No. 13
Fecha de publicación2005-12
Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Evalúa las estimaciones sobre la probabilidad de quiebra de las empresas y sus implicaciones para la estabilidad financiera en Colombia.
Bankruptcy is a threat to financial stability, if a company fails to meet its financial obligations. Obviously, the risk to financial stability increases with the number of liquidated corporations and the size of the debt each has acquired. Moreover, in a scenario characterized by a significant number of liquidations, other corporations might experience financial difficulties that place additional pressure on the financial system. In these circumstances, there are obvious systemic risks that can lead to financial crisis and its usual consequences. The extent of the potential risk to financial stability that comes from business failure depends on the likelihood of bankruptcy and the size of the debt at potential risk of default. This paper pretends to assess the various aggregate risks to financial stability. It uses company account data to construct a model for gauging the risks to financial stability posed by the corporate sector in Colombia. The objective is to analyze risks at the company level and their distribution.