전세자금대출 채무불이행 결정요인에 관한 연구

Abstract

This paper investigates three broad attributes of Chonsei loan borrowers in terms of social and demographic characteristics of individual borrowers, types of collateral and residential property, and terms and conditions of guarantee and loan contracts based on a large dataset provided by a financial institution. Next, determinants of Chonsei loan defaults are analyzed through Binary Logistic Regression Analysis. Finally the costs and benefits of exercising loan default options are discussed. This study finds that the following variables are statistically significant at 1% level: gender, marital status, number of people in the household, borrower credit rating, regional unemployment rate, geographic location, Chonsei deposit amount, housing type, size of rented residence, loan amount, amortization method, and status of joint and several liability. The variables Borrower Age, Ratio of Chonsei loan amount to Chonsei deposit amount, and interest rates are statistically significant at the 10% level. Lastly, the number of children, annual household income, and profession type variables are not statistically significant.