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European SMEs and resource efficiency measures : firm characteristics and contextual factors

Caporale, Guglielmo Maria; Donati, Cristiana; Spagnolo, … - 2023

This paper investigates how access to finance and skilled workforce endowments affect the propensity of European small and medium sized enterprises (SMEs) to adopt different types of resource efficiency measures (REMs), possibly simultaneously. For this purpose, a Multinomial Logit model is...

Persistent link: https://www.econbiz.de/10014435290

Gender, access to finance, occupational choice, and business performance

Gazanchyan, Nelli S.; Hashimzade, Nigar; Rodionova, Yulia; … - 2017

We present a theoretical and empirical analysis of the links between the gender of an entrepreneur, access to finance, occupational choice, and business performance. Our theoretical model predicts that, when lenders discriminate against women entrepreneurs, the average entrepreneurial skill of...

Persistent link: https://www.econbiz.de/10011610923

Institutions, financial development, and small business survival : evidence from European emerging markets

Iwasaki, Ichirō; Kočenda, Evžen; Shida, Yoshisada - 2020

In this paper, we traced the survival status of 94,401 small businesses in 17 European emerging markets from 2007–2017 and empirically examined the determinants of their survival, focusing on institutional quality and financial development. We found that institutional quality and the level of...

Persistent link: https://www.econbiz.de/10012304241

How do small firms respond to tax schedule discontinuities? : evidence from South African tax registers

Boonzaaier, Wian; Harju, Jarkko; Matikka, Tuomas; … - 2018

We study the responsiveness of small and medium-sized firms to a small-business corporate income tax schedule using population-wide administrative data from South Africa. We find sizeable bunching of firms at the corporate income thresholds where the corporate tax rate increases, implying active...

Persistent link: https://www.econbiz.de/10011922026

Equity crowdfunding in Germany and the UK : follow-up funding and firm survival

Hornuf, Lars; Schmitt, Matthias - 2017 - This version: August 17, 2017

Today, start-ups often obtain financing via the Internet through many small contributions of non-sophisticated investors. Yet little is known about whether these start-ups can ultimately build enduring businesses. In this paper, we hand-collected data from 38 different equity crowdfunding (ECF)...

Persistent link: https://www.econbiz.de/10011721567

The financial and non-financial performance of token-based crowdfunding : certification arbitrage, investor choice, and the optimal time of ICOs

Dombrowski, Niclas; Drobetz, Wolfgang; Hornuf, Lars; … - 2023

What role does the selection of an investor and the timing of financing play in initial coin offerings (ICOs)? We investigate the operating and financial performance of ventures conducting ICOs with different types of investors at different points in the ventures' life cycle. We find that,...

Persistent link: https://www.econbiz.de/10014252496

Fintech startups in Germany : firm failure, funding success, and innovation capacity

Hornuf, Lars; Mattusch, Matthias - 2024 - This version: August 18, 2024

Fintech startups have set out to revolutionize the financial world. However, little is known about how successful and innovative these firms actually are. This paper investigates firm failure, funding success, and innovation capacity using a hand-collected dataset of 892 German fintechs founded...

Persistent link: https://www.econbiz.de/10015051740

Divide and privatize : firm break-up and performance

Kočenda, Evžen; Hanousek, Jan - 2011

We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996-2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...

Persistent link: https://www.econbiz.de/10009130271

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

All you need is cash : corporate cash holdings and investment after the global financial crisis

Joseph, Andreas; Kneer, Christiane; Horen, Neeltje van - 2021

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...

Persistent link: https://www.econbiz.de/10012509557

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