The last few years have seen both a significant shift in EU state aid policy towards a more sophisticated economic approach and a great enrichment of the economic literature on state aid. This paper examines the control of state aid in the EU in the light of the new literature. It begins with a...

Following the massive impact of the Covid-19 pandemic on the global economy and on small and medium-sized enterprises (SMEs) in particular, the concept of resilience has experienced a renaissance. As an organizational concept, business model resilience describes the extent to which an...

Lockdown measures to contain COVID-19 put a strain on firms' liquidity. To support their cash flow some businesses issued dinner bonds to their clients, priced at a discount, redeemable when safe distance restrictions end. These contracts derived their value from a binary variable, in this case,...

Large banks derive a funding advantage from being too-big-to-fail, while small banks do not. To estimate the funding advantage we explain the CDS spreads of small banks in six major European countries during the crisis by market fundamentals and bank-specific characteristics. Next, we...

COVID-19 placed a special role to fiscal policy in rescuing companies short of liquidity from insolvency. In the first months of the crisis, SMEs as the backbone of Europe’s real economy benefited from large and mainly indiscriminate aid measures. Avoiding business failures in a whatever it...

This paper talks about impact of COVID-19 induced triple crisis (supply chain, demand chain and labor disruption) on India's Micro, Small, and Medium Enterprises, which is one of the key driver of Indian Economy. MSME's are the backbone of the economy employing more than 11.10 crore workers in...

COVID-19 placed a special role to fiscal policy in rescuing companies short of liquidity from insolvency. In the first months of the crisis, SMEs as the backbone of Europe’s real economy benefited from large and mainly indiscriminate aid measures. Avoiding business failures in a whatever it...

Over $500 billion in government-guaranteed loans were disbursed to small businesses through the Paycheck Protection Program (PPP), a key element of the federal government’s fiscal stimulus efforts during the coronavirus-induced recession. While much research has focused on the employment...

We investigate the impact of COVID-19 on 42,401 UK SMEs and how government interven-tion affect their capability to survive the pandemic. The results show that, without governmental miti-gation schemes, 59% of UK SMEs report negative earnings and that their residual life is reduced from 164 days...

COVID-19 placed a special role to fiscal policy in rescuing companies short of liquidity from insolvency. In the first months of the crisis, SMEs as the backbone of Europe’s real economy benefited from large and mainly indiscriminate aid measures. Avoiding business failures in a whatever it...