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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
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A New Approach to Early Warning Systems for Small European Banks
Bräuning, Michael - 2019
This paper describes a machine learning technique to timely identify cases of individual bank financial distress. Our work represents the first attempt in the literature to develop an early warning system specifically for small European banks. We employ a machine learning technique, and build a...
Persistent link: https://www.econbiz.de/10012857756
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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
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Global Models for a Global Pandemic : The Impact of COVID-19 on Small Euro Area Economies
Garcia, Pablo; Jacquinot, Pascal; Lenarčič, Črt; … - 2021
This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we focus on the size and the direction of...
Persistent link: https://www.econbiz.de/10013323904
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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
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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
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On the Real Effects of Private Equity Investment : Evidence from New Business Creation
Popov, Alexander A. - 2010
Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...
Persistent link: https://www.econbiz.de/10013152176
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Financial Reforms and Innovation : A Micro-Macro Perspective
Boikos, Spyridon; Bournakis, Ioannis; Christopoulos, … - 2021
suggests that whilst micro reforms boost innovation, macro reforms may appear negative. We test and find empirical support for …
Persistent link: https://www.econbiz.de/10013229692
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Does private equity investment spur innovation? Evidence from Europe
Popov, Alexander; Roosenboom, Peter - 2009
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/10011605109
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The Employment Consequences of SMEs’ Credit Constraints in the Wake of the Great Recession
Cornille, David - 2017
This article takes advantage of access to confidential matched bank-firm data relative to the Belgian economy to investigate how employment decisions of small- and medium-sized enterprises (SMEs) have been affected by credit constraints in the wake of the Great Recession. Variability in banks'...
Persistent link: https://www.econbiz.de/10012940882