Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/18605 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorAugurzky, Borisen
dc.contributor.authorEngel, Dirken
dc.contributor.authorSchwierz, Christophen
dc.date.accessioned2009-01-28T15:48:56Z-
dc.date.available2009-01-28T15:48:56Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/18605-
dc.description.abstractHuge underinvestment increases the need for private borrowing in the German hospital sector, the access to which is partly determined by the probability of default (PD) of individual hospitals. Using ordinary least squares and quantile regression techniques this paper provides first empirical evidence of its kind to evaluate the PD in the hospital sector and its constituent determinants. Based on annual account and medical data from 17% of all German hospitals we find that the current average probability of default amounts to approximately 1.7%, which is slightly higher than the average probability for all German firms. Among other determinants, we find that public ownership significantly increases the risk of default, while private for-profit and private not-for-profit hospitals do not differ. Moreover, demographic change in the form of population growth is confirmed to be relevant for the PD.en
dc.language.isoengen
dc.publisher|aRheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI) |cEssenen
dc.relation.ispartofseries|aRWI Discussion Papers |x54en
dc.subject.jelI11en
dc.subject.jelL31en
dc.subject.ddc330en
dc.subject.keywordHospital profitabilityen
dc.subject.keywordquantile regressionen
dc.subject.keywordprobability of defaulten
dc.subject.keywordownership type theoriesen
dc.titleWho gets the Credit? Determinants of the Probability of Default in the German Hospital Sector-
dc.typeWorking Paperen
dc.identifier.ppn522077684en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:rwidps:54en

Files in This Item:
File
Size
162.81 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.