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Defaults in bank loans to SMEs during the financial crisis

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Table 1 Descriptive statistics for variables used in the study
Table 4 Probit regression for the baseline model Y = Default Baseline Probit estimate coefficient Marginaleffects SME characteristics
Table 4 (continued) Y = Default Baseline Probit estimate coefficient Marginaleffects Intercept 0.790*** (0.218) Time-specific effects Yes Predicted probability of default 23.80%
Table 5 Probit regressions for Collateral × Credit Scores Y = default
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