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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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Determinants of corporate financing decisions: A survey evidence from Czech firms
Jindřichovská, Irena; Körner, Pavel - 2008
This paper investigates the empirical evidence on determinants of financing decisions on the pool of respondents among financial managers of Czech firms. The theoretical section provides an overview of prominent contemporary theories on capital structure. Employing Chi-square Sign Test and Logit...
Persistent link: https://www.econbiz.de/10010322315
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Financing of technology-intensive small businesses: Some evidence on the uniqueness of the ICT industry
Hyytinen, Ari; Pajarinen, Mika - 2002
Using recently collected data on Finnish small businesses, we provide evidence that the debt capacity of growth options, defined as the amount of debt that firms optimally raise for an incremental project, is negative, especially in the information and communications technology (ICT) sector. We...
Persistent link: https://www.econbiz.de/10010284897
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Financing SMEs in Europe
Ayadi, Rym; Bernet, Beat; Westerfeld, Simone; Franck, Tom; … - 2009
Small and medium-sized enterprises are a centrepiece of Europe?s economy. Due to their limited size and their generally lower creditworthiness, their access to financial market instruments is more limited than for large enterprises, which benefit from more elaborate Treasury operations,...
Persistent link: https://www.econbiz.de/10011689939
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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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Bank mergers and lending relationships
Montoriol-Garriga, Judit - 2008
This paper analyzes the effects of bank mergers on bank firm relationships. Using matched bank-firm level data, I find that mergers disrupt lending relationships, specially to small borrowers of target banks. However, I find significant positive effects of mergers for borrowers that continue the...
Persistent link: https://www.econbiz.de/10011604980
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Finanzierung von kleinen und mittleren Unternehmen in der Corona-Pandemie
Pahnke, André; Nielen, Sebastian; Dienes, Christian; … - 2023
Unternehmen (KMU). Zu Beginn der Corona-Pandemie ist die Anzahl der KMU mit Finanzierungsproblemen gestiegen, sowohl in … Deutschland als auch in weiteren Ländern des Euroraums. KMU in Deutschland waren jedoch etwas stärker betroffen. Ein wesentlicher … Möglichkeiten der Finanzierung über Eigenmittel. Zusätzlich ist für die betroffenen KMU auch der Zugang zu Fremdkapital schwieriger …
Persistent link: https://www.econbiz.de/10014340153
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Family control and financing decisions
Crocci, Ettore; Doukas, John A.; Gonenc, Halit - 2010
Empirical studies examining the financing decisions of the firm focus exclusively on publicly held firms, not family-controlled firms despite their economic importance. This study investigates the external financing behavior of family-controlled firms, using a comprehensive sample of 777 large...
Persistent link: https://www.econbiz.de/10010273646
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The Determinants of Capital Structure: Some Evidence from Banks
Heider, Florian; Gropp, Reint E. - 2008
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have...
Persistent link: https://www.econbiz.de/10010298024
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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