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"The authors propose a more complete conceptual framework for analysis of credit availability for small and medium enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national financial structures affect credit availability. They...
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Das Werk gibt einen theoretisch und empirisch fundierten Überblick zur Finanzierung im Mittelstand. Vor dem Hintergrund … zufolge ist die Finanzierung mittelständischer Unternehmen im Gegensatz zu Großunternehmen deutlich schwieriger, da sich EU …
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This review evaluates the four major theories of corporate financing: (1) the Modigliani–Miller theory of capital …-structure irrelevance, in which firm values and real investment decisions are unaffected by financing; (2) the trade-off theory, in which … financing responds to managers’ personal incentives; and (4) the pecking-order theory, in which financing adapts to mitigate …
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Large and foreign-owned institutions may have difficulty extending relationship loans to informationally opaque small firms. Bank distress does not appear to affect small business lending, although even small firms may react to bank distress by borrowing from multiple banks
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