Bergthaler, Wolfgang; Kang, Kenneth; Liu, Yan; … - International Monetary Fund (IMF) - 2015
(NPLs) in several European countries. Small and medium-size enterprises (SMEs) represent a significant and weak segment of … the nonfinancial corporate sector. SMEs face a number of legal, financial, and regulatory challenges to restructuring that … differ from those of larger corporates, such as a rigid and costly insolvency regime, a higher fixed cost to loan …