The purpose of this paper is to verify recovery risk management capabilities by lessors. It tests several hypotheses and finds out interesting specific results for lessors. The approach is empirical: two different database of leasing contracts are analysed with econometric methodologies. Findings: there is clear evidence that: lessors are ex ante able to balance the probability of default and the loss given default case by case, using proper contract structures; and they carefully manage recovery procedures and strategies according to operations’ characteristics.
Lessors' recovery risk management capability
DE LAURENTIS, GIACOMO;MATTEI, JACOPO
2009
Abstract
The purpose of this paper is to verify recovery risk management capabilities by lessors. It tests several hypotheses and finds out interesting specific results for lessors. The approach is empirical: two different database of leasing contracts are analysed with econometric methodologies. Findings: there is clear evidence that: lessors are ex ante able to balance the probability of default and the loss given default case by case, using proper contract structures; and they carefully manage recovery procedures and strategies according to operations’ characteristics.
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