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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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The importance of leasing for SME finance
Kraemer-Eis, Helmut; Lang, Frank - 2012
the tool-set for SME finance, also against the background of market weaknesses for SME lending. It explains the mechanics … and logic of SME leasing and provides latest available market information. Furthermore, the paper explains in the form of … three case studies how SME leasing can be supported via credit enhancement techniques. These examples, taken from recent EIF …
Persistent link: https://www.econbiz.de/10011862387
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Bank financing to SMEs in the Republic of North Macedonia : evidence from survey data
Jakimova, Tanja; Popovska-Kamnar, Neda - 2019
This paper presents the main findings of the Survey for bank financing to small and medium enterprises (SMEs). The key objective was to capture the main features of the "supply side" of SMEs financing in the Republic of North Macedonia and to identify institutional and policy constraints of...
Persistent link: https://www.econbiz.de/10012124584
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Generosity versus duration trade-off and the optimization ability of the unemployed
Khoury, Laura - 2019
Persistent link: https://www.econbiz.de/10012001840
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Multiple unit auctions and short squeezes
Nyborg, Kjell G.; Strebulaev, Ilya A. - 2003
This paper develops a theory of multiple unit auctions with short squeezes in the post- auction market. This is …
Persistent link: https://www.econbiz.de/10011590998
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Competitive Markets without Commitment
Netzer, Nick; Scheuer, Florian - 2008
In the presence of a time-inconsistency problem with optimal agency contracts, we show that competitive markets implement allocations that Pareto dominate those achieved by a benevolent planner, they induce strictly more effort, and they sometimes make the commitment problem disappear entirely....
Persistent link: https://www.econbiz.de/10003894094
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A theory of firm decline
Sabatini, Fabio - 2010
This paper carries out an investigation into the socio-economic determinants of couples’ childbearing decisions in Italy. Since having children is in most cases a “couple matter”, the analysis accounts for the characteristics of both the possible parents. Our results do not support...
Persistent link: https://www.econbiz.de/10008732064
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A theory of firm decline
Clementi, Gian Luca; Cooley, Thomas F.; Di Giannatale, Sonia - 2010 - This version: July 20, 2009
We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter’s operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of...
Persistent link: https://www.econbiz.de/10008732070
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Moral hazard and lack of commitment in dynamic economies
Karajvanov, Alexander K.; Martin, Fernando M. - 2011
We revisit the role of limited commitment in a dynamic risk-sharing setting with private information. We show that a Markov-perfect equilibrium, in which agent and insurer cannot commit beyond the current period, and an infinitely-long contract to which only the insurer can commit, implement...
Persistent link: https://www.econbiz.de/10009312805
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Student loans and repayment : theory, evidence and policy
Lochner, Lance; Monge-Naranjo, Alexander - 2014
Persistent link: https://www.econbiz.de/10010423519