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The real effects of EU loan guarantee schemes for SMEs: a pan-European assessment
Brault, Julien; Signore, Simone - 2019
This paper provides a pan-European assessment of EU credit guarantees to SMEs. Synthesizing past research, it investigates the firm-level economic impact of over 360,000 guaranteed loans under the EU MAP and CIP programmes from 2002 to 2016. These loans represented a total amount of EUR 22bn...
Persistent link: https://www.econbiz.de/10012021696
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Financing micro firms in Europe : an empirical analysis
Masiak, Christian; Block, Jörn; Moritz, Alexandra; … - 2017
The vast majority of firms in Europe are micro firms. Still, we know little about their financing patterns. Our paper aims to close this gap. Based on a large European firm-level data set, we find that micro firms differ in their financing patterns from small and medium-sized companies. Our...
Persistent link: https://www.econbiz.de/10011859838
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Long-term finance and investment with frictional asset markets
Kozlowski, Julian - 2017
Trading frictions in financial markets affect more long- than short-term bonds generating an upward sloping yield curve. Long-term financing is more expensive in economies with higher trading frictions so firms choose to borrow and invest in shorter horizons and lower productivity projects. The...
Persistent link: https://www.econbiz.de/10011911516
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Econometric study on the impact of EU loan guarantee financial instruments on growth and jobs of SMEs
Bertoni, Fabio; Brault, Julien; Colombo, Massimo G.; … - 2019
This working paper investigates the economic effects of guaranteed loans granted under the EU programmes MAP and CIP on SMEs' growth in Italy, the Benelux and the Nordic countries (Denmark, Finland, Norway and Sweden) from 2002 to 2016. In these macro-regions, the facilities supported 174,107...
Persistent link: https://www.econbiz.de/10011963850
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The effects of EU-funded guarantee instruments of the performance of small and medium enterprises : evidence from France
Bertoni, Fabio; Colombo, Massimo G.; Quas, Anita - 2018
rates. The study also estimates the effects of guaranteed loans on SME productivity. Consistent with earlier works, the …
Persistent link: https://www.econbiz.de/10011939685
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European small business finance outlook ; 2020, September
Kraemer-Eis, Helmut; Botsari, Antonia; Gvetadze, Salome; … - 2020
the markets for SME debt products and, finally, it highlights important aspects of microfinance in Europe. A chapter on …
Persistent link: https://www.econbiz.de/10012285561
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European small business finance outlook ; 2019, June
Kraemer-Eis, Helmut; Botsari, Antonia; Gvetadze, Salome; … - 2019
environment, then looks at the main aspects of equity finance and the guarantee and SME securitisation markets. It also highlights …
Persistent link: https://www.econbiz.de/10012036904
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European small business finance outlook ; 2017, June
Kraemer-Eis, Helmut; Lang, Frank; Torfs, Wouter; … - 2017
environment, then look at the main aspects of equity finance and guarantees/SME Securitisation (SMESec). Finally, before we …
Persistent link: https://www.econbiz.de/10011859845
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Credit guarantee schemes for SME lending in Western Europe
Chatzouz, Moustafa; Gereben, Áron; Lang, Frank; Torfs, … - 2017
), which provides a comprehensive overview on the use of CGSs for Small- and Medium-sized Enterprise (SME) lending in Central …
Persistent link: https://www.econbiz.de/10011859849
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Financing patterns of European SMEs revisited : an updated empirical taxonomy and determinants of SME financing clusters
Masiak, Christian; Moritz, Alexandra; Lang, Frank - 2017
empirical taxonomy of SME financing patterns in Europe, applying cluster analyses. In order to investigate the cluster stability … of SMEs. Our results confirm the results of Moritz et al. (2016) and show that European SME financing is not homogenous …, but that different financing patterns exist. Our cluster analysis identifies seven distinct SME financing types based on …
Persistent link: https://www.econbiz.de/10011861055