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Financing obstacles among euro area firms : who suffers the most?
Ferrando, Annalisa; Griesshaber, Nicolas - 2011
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/10008901467
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Identifying financial constraints
Cherchye, Laurens; Rock, Bram de; Ferrando, Annalisa; … - 2020
We propose a new methodology to recover firm-time varying financial constraints from firms' production behavior. We model financial constraints as the profitability that firms forgo when budget constraints on production inputs bind, impeding them from using the optimal level of inputs and...
Persistent link: https://www.econbiz.de/10012241106
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Determinants of firms' efficiency: do innovations and finance constraints matter? : the case of European SMEs
Bonanno, Graziella; Ferrando, Annalisa; Rossi, Stefania - 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/10012241105
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Financing the low-carbon transition in Europe
Carradori, Olimpia; Giuzio, Margherita; Kapadia, Sujit; … - 2023
Using evidence from the EU emissions trading system, we collect verified emissions of close to 4000 highly polluting and mostly non-listed firms responsible for 26% of EU's emissions. Over the period 2013-2019, we find a non-linear relationship between leverage and emissions. A firm with higher...
Persistent link: https://www.econbiz.de/10014315149
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Lending relationships in loan renegotiation : evidence from corporate loans
Plessen-Mátyás, Katharina - 2021
This paper presents evidence that personal relationships between corporate borrowers and bank loan officers improve the outcomes of loan renegotiation. Analysing a bank reorganization in Greece in the mid-2010s, I find that firms that experience an exogenous interruption in their loan officer...
Persistent link: https://www.econbiz.de/10012519342
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Banks credit and productivity growth
Hassan, Fadi; Di Mauro, Filippo; Ottaviano, Gianmarco I. P. - 2017
Financial institutions are key to allocate capital to its most productive uses. In order to examine the relationship between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping generations of entrepreneurs under complete and...
Persistent link: https://www.econbiz.de/10011636916
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Financing obstacles among euro area firms
Ferrando, Annalisa; Griesshaber, Nicolas - 2011
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/10009640626
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Credit constraints, firm investment and growth : evidence from survey data
García-Posada, Miguel - 2018
We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a large panel of small and medium-sized enterprises from 12 European countries for the period 2014-2016. The data come from the Survey on the access to finance of enterprises...
Persistent link: https://www.econbiz.de/10011792068
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Spare tyres with a hole : investment funds under stress and credit to firms
Nicoletti, Giulio; Rariga, Judit; D'Acri, Costanza Rodriguez - 2024
We study the impact of a liquidity shock affecting investment funds on the financing conditions of firms. The abrupt liquidity needs of investment funds, triggered by the outbreak of the Covid-19 pandemic, prompted a retrenchment from bond purchases of firms and a withdrawal of short term funds...
Persistent link: https://www.econbiz.de/10014490474
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The real effects of FinTech lending on SMEs : evidence from loan applications
Eça, Afonso; Ferreira, Miguel A.; Prado, Melissa Porras; … - 2022
We show that FinTech lending affects credit markets and real economic activity using a unique data set of a Peer-to-Business platform for which we have the universe of loan applications. We find that FinTech serves high quality and creditworthy small businesses who already have access to bank...
Persistent link: https://www.econbiz.de/10012818733