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When arm's length is too far : relationship banking over the business cycle

Beck, Thorsten; Degryse, Hans; Haas, Ralph de; Horen, … - 2014

Using a novel way to identify relationship and transaction banks, we study how banks' lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms' credit constraints at two...

Persistent link: https://www.econbiz.de/10010375321

Consumption risk sharing over the business cycle : the role of small firms' access to credit markets

Hoffmann, Mathias; Stewen, Iryna - 2009

Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small firms' access to credit markets plays an important role in explaining this stylized fact: business cycle fluctuations in aggregate risk sharing are more pronounced in states in...

Persistent link: https://www.econbiz.de/10003807913

Rescue policies for small businesses in the Covid-19 recession

Di Nola, Alessandro; Kaas, Leo; Wang, Haomin - 2022

While the COVID-19 pandemic had a large and asymmetric impact on firms, many countries quickly enacted massive business rescue programs which are specifically targeted to smaller firms. Little is known about the effects of such policies on business entry and exit, factor reallocation, and...

Persistent link: https://www.econbiz.de/10013166369

Is the German Mittelstand more resistant to crises? : empirical evidence from the great recession

Berlemann, Michael; Jahn, Vera; Lehmann, Robert - 2020

significantly better than SMEs and owner-managed large enterprises. Thus, it is rather the combination of firm-size and owner-management …

Persistent link: https://www.econbiz.de/10012388222

Income mobility of owners of small businesses when boundaries between occupations are vague

Thoresen, Thor Olav - 2009

Ownership of small businesses can facilitate upward mobility through the income hierarchy and help individuals maintain a place at the higher end of the income distribution hierarchy. This paper compares the positional stability of owners of small businesses with that of wage earners, arguing...

Persistent link: https://www.econbiz.de/10003850142

Drivers and obstacles to banking SMEs : the role of competition and the institutional framework

Torre, Augusto de la; Martínez Pería, María Soledad; … - 2009

foster SME lending and attention has focused on improving the institutional environment, such that the financial system is … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what … and retail sectors. They perceive the SME market as highly profitable, large, and with good prospects. Moreover, banks are …

Persistent link: https://www.econbiz.de/10003850504

Endogenous monopsony and the perverse effect of the minimum wage in small firms

Danziger, Leif - 2009

The minimum wage rate has been introduced in many countries as a means of alleviating the poverty of the working poor. This paper shows, however, that an imperfectly enforced minimum wage rate causes small firms to face an upward-sloping labor supply schedule. Since this turns these firms into...

Persistent link: https://www.econbiz.de/10003872293

The impact of dividend taxation on dividends and investment : new evidence based on a natural experiment

Kari, Seppo; Karikallio, Hanna; Pirttilä, Jukka - 2009

There is a lack of clear evidence of the ways in which dividend taxation affects dividend distributions and investment since the evidence is based mainly on the behaviour of large listed companies. This paper utilises a large register-based panel data set, where the vast majority of firms are...

Persistent link: https://www.econbiz.de/10003872811

Shifts in organizational form under a dual income tax system

Thoresen, Thor Olav (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003674407

Integrating with their feet : cross-border lending at the German-Austrian border

Fidrmuc, Jarko (contributor); Hainz, Christa (contributor) - 2008

Persistent link: https://www.econbiz.de/10003688885

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