工商管理外文翻译---贷款担保的违约成本和对小企业的利处-工商管理(编辑修改稿)

工商管理外文翻译---贷款担保的违约成本和对小企业的利处-工商管理(编辑修改稿)内容摘要：

ous attempts to conduct costbenefit analyses of loan guarantee finds wide variation, internationally, in default rates. Published data suggests default rates １ vary from less than 5% (Germany) to more than 40% (.). The empirical analysis reported here focuses on the Canadian implementation of loan guarantees, the Small Business Loans Act (SBLA). Findings include (1) loan guarantees granted under the terms of the SBLA provide an extremely efficient means of job creation, with very low estimated costs per job。 (2) default rates are higher for newer firms, increase with the amount of funds borrowed, and vary widely by sector (borrowers in the retail and acmodation, and food and beverage sectors were significantly more likely to default than borrowers in other sectors)。 and (3) the widening eligibility to larger firms and to larger loans may not be well advised and is inconsistent with the goals of the program. Moreover, reducing the loan ceiling would arguably discourage fraudulent applica。