We analyze the dynamics of price jumps and the impact of the European debt crisis using the high-frequency data reported by selected stock exchanges on the European continent during the period January 2008 to June 2012. We employ two methods to identify price jumps: Method 1 minimizes the...

We explore how the type of owner affects private enterprise investment decisions in Europe. In contrast to the literature, we analyze firms with concentrated (more than 95%) ownership stakes to reduce the potential that agency problems contaminate our results. We consider four types of...

Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate efficiency, and (iii) high competition is less...

This EIF Working Paper investigates financing patterns of European SMEs by looking at a large number of different financing instruments and their complementary and substitutive effects, using the SAFE dataset collected in 2015. We develop an empirical taxonomy of SME financing patterns in...

In November 2009, EIF issued a working paper on the European microfinance market. In this study, we found that there are wide spectra of final beneficiaries and intermediaries and concluded that there is no common microfinance business model in Europe. While our findings suggested that the...

Securitisation has, after a period of significant growth throughout the last 10-15 years, become the finance area which has fallen the most from its peak – both in terms of new volumes as well as its image as an innovative and efficient financing tool. While market insiders, including...

This study investigates the effects of microcredit in the European market. Based on the review of relevant literature and recent surveys, this research explores the general meaning of microcredit before addressing the European SME landscape with a special focus on micro enterprises and...