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Financing Obstacles Among Euro Area Firms : Who Suffers the Most?

Ferrando, Annalisa; Griesshaber, Nicolas - 2021

In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age,...

Persistent link: https://www.econbiz.de/10013316096

Determinants of Firms’ Efficiency : Do Innovations and Finance Constraints Matter? The Case of European Smes

Bonanno, Graziella - 2020

This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation … efficiency in order to increase profitability. Among firms that have embarked in product innovation, those in the industry and … help to better understand the link between innovation, financial constraints and efficiency, which goes beyond the idea …

Persistent link: https://www.econbiz.de/10012831402

Financial Constraints and Productivity : Evidence from Euro Area Companies

Ferrando, Annalisa - 2015

We study the relation between firms financial structure, access to external finance and labor productivity using a unique dataset of firm-level data for several euro area countries during the period 1995-2011. The empirical strategy is twofold. First we build a synthetic indicator of financial...

Persistent link: https://www.econbiz.de/10013019618

The Real Effects of Credit Constraints : Evidence from Discouraged Borrowers in the Euro Area

Ferrando, Annalisa - 2015

This paper uses a new survey-based data set and a model with strong theoretical under-pinnings to explain the characteristics and behaviour of discouraged borrowers in the euro area. The results show that more borrowers are discouraged when the average interest rate charged by banks in a country...

Persistent link: https://www.econbiz.de/10013016941

Procurement centralization in the EU : the case of Italy

Decarolis, Francesco - 2018

Persistent link: https://www.econbiz.de/10011860165

Sovereign Stress, Unconventional Monetary Policy, and SME Access to Finance

Ferrando, Annalisa - 2015

We investigate the effect of sovereign stress and of unconventional monetary policy on small firms' financing patterns during the euro area debt crisis. We find that after the crisis started, firms in stressed countries were more likely to be credit rationed, both in the quantity and in the...

Persistent link: https://www.econbiz.de/10013019629

Sources of the Small Firm Financing Premium : Evidence from Euro Area Banks

Holton, Sarah - 2017

The post-2008 period in the euro area was characterised by sharp dispersion in borrowing costs faced by firms, across both countries and firm types. This dispersion was an important manifestation of the "financial fragmentation" which hampered the smooth transmission of accommodative monetary...

Persistent link: https://www.econbiz.de/10012949926

Does Private Equity Investment Spur Innovation? Evidence from Europe

Popov, Alexander A. - 2012

We provide the first cross-country evidence of the effect of investment by private equity firms on innovation, focusing … funds and insurance companies across countries and over time. We also control for the standard determinants of innovation … aggregate (private equity plus R&D) industrial spending, PE accounts for as much as 12% of industrial innovation. We also …

Persistent link: https://www.econbiz.de/10013117009

Bank Efficiency and Regional Growth in Europe : New Evidence from Micro-Data

Belke, Ansgar Hubertus - 2017

This paper examines whether European regions which incorporate banks with a higher intermediation quality grow faster and are more resilient to negative shocks than its less efficient peers. For this purpose, we measure a bank's intermediation quality by estimating its profit and cost efficiency...

Persistent link: https://www.econbiz.de/10012963950

Gender Diversity in Bank Boardrooms and Green Lending : Evidence from Euro Area Credit Register Data

Gambacorta, Leonardo; Pancotto, Livia; Reghezza, Alessio; … - 2022

Do female directors on banks’ boards influence lending decisions toward less polluting firms? By using granular credit register data matched with information on firm-level greenhouse gas (GHG) emission intensities, we isolate credit supply shifts and find that banks with more gender-diverse...

Persistent link: https://www.econbiz.de/10014239208

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