and bank headquarters). However, during the crisis, we find that SMEs with in their vicinity banks that have stronger …We study the sensitivity of banks' credit supply to small and medium size enterprises (SMEs) in the UK to banks …' financial condition before and during the financial crisis. Employing unique data on the geographical location of all bank …

The unbundling of trade across regions offers unique opportunities for SMEs to integrate into global trade notably … challenge for SMEs to accessing financing remains an important one; in many developing and emerging market economies, the … capacity of the local financial sector to support new traders is limited. Moreover, after the financial crisis, several global …

Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis … but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis …, while cash-poor rivals reduced theirs. This gave cash-rich SMEs a competitive advantage during the recovery, resulting in a …

young, confirming the fact that SMEs tend to suffer more when credit standards are tightened. -- financial crisis …During the recent financial crisis, euro area firms, and especially Small and Medium-sized Enterprises, have been … reporting acute problems of access to external finance. Using firm-level replies to the SME survey on access to finance, we use …

Mittelstand enterprises, defined as owner-managed SMEs. We present supporting evidence for the hypothesis that Mittelstand firms … performed more stable throughout the Great Recession than non-Mittelstand firms. We also show that owner-managed SMEs performed … significantly better than SMEs and owner-managed large enterprises. Thus, it is rather the combination of firm-size and owner …

Small businesses (SMEs) depend on banks for credit. We show that the severity of the Eurozone crisis was worse in … banks while foreign banks' lending to the real sector stayed flat. Hence, SMEs remained dependent on domestic banks and were … sectors and countries with many SMEs vulnerable to global banking shocks. …

We empirically investigate whether the persistence of politicians in political institutions affects the innovation …' innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …

-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale … desire of governments to foster risky 'breakthrough' innovations. -- business taxation ; innovation ; market entry …

this analysis, we use patent citations as a proxy for the innovation effort by the acquirer. Our main result is to show … that acquisition increases the innovation effort of the acquirer but only temporarily. After 1.5 year, there is no longer a … significant impact of the acquisition on the acquirer’s innovation effort. This decline is relatively larger when the acquired …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … crisis countries (Greece, Portugal, Ireland, Cyprus, Spain) based on over 200 past macroeconomic adjustment episodes between …