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role in determining the age-debt relationship. Finally, we find that the age-debt relationship depends on the country level … financial structure with more stock market financing reducing firm leverage disproportionately for young firms while foreign … bank lending and bank concentration both increase firm leverage across the lifecycle. …
Persistent link: https://www.econbiz.de/10011975098
In this paper, we use firm-level survey data to explore the determinants of SME investment activity and the extent to which observed investment is in line with that suggested by economic fundamentals. In contrast to previous literature which has focused on whether investment gaps exist at a more...
Persistent link: https://www.econbiz.de/10011805629
Persistent link: https://www.econbiz.de/10009572237
Persistent link: https://www.econbiz.de/10009419802
Small and medium enterprises have been shown to rely mainly on banks for funding and, unlike larger firms, rarely have direct access to capital markets. This paper looks at the extent to which SMEs avail of a wider range of funding options and how their use differs across firms and countries....
Persistent link: https://www.econbiz.de/10010406779
In this paper, we explore the link between SME investment, firm economic characteristics, and the presence of financing constraints during the post-2008 crisis recovery period in Ireland. We use novel survey data between 2016 and 2018, which disaggregates investment by asset type and allows a...
Persistent link: https://www.econbiz.de/10012510299