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The paradox of progress : technological advancements in banking and the dual impact on SME bank borrowing

Hryckiewicz, Aneta; Korosteleva, Julia; Kozłowski, Łukasz - 2024

This study delves into the impact of technological bank innovations on small and medium-sized enterprise (SME) borrowing across the European Union. By analyzing a comprehensive dataset of 179,921 SME-bank lending relationships from 2009 to 2019, we explore the mechanisms through which...

Persistent link: https://www.econbiz.de/10015071855

Secured Credit and Partial Priority : Corporate Finance as a Creation or an Externalisation Practice?

de Weijs, Roelf Jakob - 2018

Four developments warrant revisiting the debate on full priority and taking steps to implement a partial priority system. The first development is that secured credit increasingly results in a complete lack of funds to cover the expenses of the insolvency procedure. The second development is...

Persistent link: https://www.econbiz.de/10012911409

Secured Transactions Law Reform in Japan : Japan Business Credit Project Assessment of Interviews and Tentative Policy Proposals

Hara, Megumi; Koens, Kumiko; Mooney, Charles W. - 2021

This article summarizes key findings from the Japan Business Credit Project (JBCP), which involved more than 30 semi-structured interviews conducted in Japan from 2016 through 2018. It was inspired by important and previously unexplored questions concerning secured financing of movables...

Persistent link: https://www.econbiz.de/10013234710

Capital Constraints, Capital Costs and Collateral in Chinese Family SMEs

Xiang, Dong; Zhang, Yuming; Worthington, Andrew C. - 2021

provision of greater collateral, and the reliance on internal finance. Family firms may also make better use of their advantage …

Persistent link: https://www.econbiz.de/10013219871

Collateral Constraints, Financial Constraints, and Risk Management : Evidence From Anti-Recharacterization Laws

Fairhurst, Douglas J.; Nam, Yoonsoo - 2021

securitizing collateral through Special Purpose Vehicles (SPVs) and test how collateral values impact corporate risk management … with exposure to these risks and that rely on SPVs. Supporting the collateral constraints literature, the effect is weaker … for firms that likely need the collateral for external financing, such as financially constrained firms. Our findings …

Persistent link: https://www.econbiz.de/10013224656

Financing from family and friends

Lee, Samuel; Persson, Petra - 2012

middle ; financing gap ; risk capital ; social collateral …

Persistent link: https://www.econbiz.de/10009737925

Collateral and the Choice Between Bank Debt and Public Debt

Lin, Leming - 2019

This paper tests how collateral value affects a firm's choice between bank debt and public debt by considering the … increase in collateral value causes bank debt as a fraction of total debt to increase by 6 percentage points …

Persistent link: https://www.econbiz.de/10012905379

The Relation between Reporting Quality and Financing and Investment : Evidence from Changes in Financing Capacity

Balakrishnan, Karthik - 2013

We use changes in the value of a firm's real estate assets as an exogenous change in a firm's financing capacity to examine (i) the relation between reporting quality and financing and investment conditional on this change, and (ii) firms' reporting quality responses to the change in financing...

Persistent link: https://www.econbiz.de/10013092376

Collateral Damage? On Collateral, Corporate Financing and Performance

Cerqueiro, Geraldo - 2016

In this paper, we investigate the economy-wide effects of the collateral channel by exploiting: (i) a legal reform in … Sweden in 2004 that reduced collateral values, and (ii) a dataset that covers all incorporated firms in Sweden over the … period 2000-2006. We find that the loss in collateral value reduces both the amount and the maturity of firm debt and leads …

Persistent link: https://www.econbiz.de/10012988601

Corporate Finance Under Safe Asset Scarcity

Kahn, R. Jay - 2020

How does government borrowing affect corporate financing and investment? This paper focuses on the role that government debt plays in providing a safe and liquid store of value to the private sector. In the data, I show that firms interact with the market for government debt in two ways: first,...

Persistent link: https://www.econbiz.de/10012850870