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Finanzierungsstrukturen und -strategien kleiner und mittlerer Unternehmen: Eine Bestandsaufnahme
Pahnke, André; Schröder, Christian; Leonhardt, Fabian; … - 2015
Das Finanzierungsumfeld für kleine und mittlere Unternehmen (KMU) befindet sich im Wandel. Die Veränderungen des … auf die Finanzierungsstrukturen der KMU. So konnten KMU ihre Eigenkapitalquoten deutlich stärker als Großunternehmen … Fremdfinanzierungsinstrument für KMU ist, jedoch im Vergleich zur Innenfinanzierung durch einbehaltene Unternehmensgewinne deutlich an Bedeutung …
Persistent link: https://www.econbiz.de/10011420347
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Company Financing, Capital Structure, and Ownership: A Survey, and Implications for Developing Economies
Prasad, Sanjiva; Green, Christopher J.; Murinde, Victor - 2001
attempts to reconcile competing theories of capital structure and appraises recent models which use agency theory and …
Persistent link: https://www.econbiz.de/10011689896
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Managerial incentives and the efficiency of capital structure
Hughes, Joseph P.; Lang, William W.; Moon, Choon-Geol; … - 2001
We extend the literature on the effects of managerial entrenchment on capital structure to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded,...
Persistent link: https://www.econbiz.de/10010318364
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Capital structure decisions in family firms: empirical evidence from a bank-based economy
Ampenberger, Markus; Schmid, Thomas; Achleitner, Ann-Kristin - 2009
with agency theory, we can show that the leverage level is the lowest if the founding family is simultaneously a large …
Persistent link: https://www.econbiz.de/10010305690
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The interdependence of R&D activity and debt financing of young firms
Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - 2011
We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...
Persistent link: https://www.econbiz.de/10010286852
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Banking regulation and prompt corrective action
Freixas, Xavier; Parigi, Bruno Maria - 2007
We explore the rationale for regulatory rules that prohibit banks from developing some of their natural activities when their capital level is low, as epitomized by the US Prompt Corrective Action (PCA). This paper is built on two insights. First, in a moral hazard setting, capital requirement...
Persistent link: https://www.econbiz.de/10010264241
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A kis- és középvállalkozások növekedését meghatározó tényezők: A különböző finanszírozási formák hatása a vállalati növekedésre
Antal-Pomázi, Krisztina - 2011
The study provides a brief summary of the theoretical and empirical considerations related to the possible determinants of firm growth. With a special focus on small and medium-sized firms, we investigate the role of the availability of internal and external finance. After examining the key...
Persistent link: https://www.econbiz.de/10010494459
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The impact of exporting on SME capital structure and debt maturity choices
Maes, Elisabeth; Dewaelheyns, Nico; Fuss, Catherine; … - 2016
-sized enterprises (SME) between 1998 and 2013, this article examines the manner in which firms manage to finance their export activities … is likely to boost SME export activities by widening access to bank financing and reducing financial constraints. …
Persistent link: https://www.econbiz.de/10011786066
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Leasing by small enterprises
Neuberger, Doris; Räthke-Döppner, Solvig - 2012
Using internal data of a leasing company in Germany, we examine the determinants of the probability and use of leasing by small firms. We find that small and young firms are likely to be constrained on the leasing market but use leasing to increase their debt capacity. Beyond contract- and...
Persistent link: https://www.econbiz.de/10010319296
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Small business finance in Finland: A descriptive study
Hyytinen, Ari; Pajarinen, Mika - 2002
Using new data originating from a recently conducted survey, this paper examines the financing of small and medium-sized enterprises (SMEs) in private equity and debt markets in Finland. We find that the three most important sources of funds are the principal owner’s equity, trade credit...
Persistent link: https://www.econbiz.de/10010285020