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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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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
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Capital structure, corporate taxation and firm age
Pfaffermayr, Michael; Stöckl, Matthias; Winner, Hannes - 2008
This paper analyzes the relationship between capital structure, corporate taxation and firm age. We adapt a standard model of optimal capital structure choice under corporate taxation, focusing on the financing and investment decisions a young firm is typically faced with. Our model allows to...
Persistent link: https://www.econbiz.de/10010293406
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How Does Owners' Exposure to Idiosyncratic Risk Influence the Capital Structure of Private Companies?
Müller, Elisabeth - 2005
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the capital structure of private companies. The exposure to idiosyncratic risk is approximated by the share of personal net worth invested in one company (SNWI). Exposure to idiosyncratic risk...
Persistent link: https://www.econbiz.de/10010297423
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Benefits of Control, Capital Structure and Company Growth
Mueller, Elisabeth - 2005
This paper studies the influence of the private benefits of control on the capital structure and the growth of private companies. It is argued that companies in which existing owners would lose more control if they expanded, have smaller equity increases, are more highly levered and grow more...
Persistent link: https://www.econbiz.de/10010297463
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Benefits of Control, capital structure and company growth
Mueller, Elisabeth - 2005
This paper studies the influence of the benefits of control on the capital structure and the growth of private companies for a sample of 8,964 UK companies with limited liability observed for up to 5 years. It is hypothesised that companies in which existing owners would lose more control if...
Persistent link: https://www.econbiz.de/10010297810
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How Does Owners' Exposure to Idiosyncratic Risk Influence the Capital Structure of Private Companies?
Müller, Elisabeth - 2006
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the demand for loans and the capital structure. The analysis is based on a sample of small and medium-sized private companies from the United States. The exposure to idiosyncratic risk is...
Persistent link: https://www.econbiz.de/10010298013