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Finanzierung von kleinen und mittleren Unternehmen in der Corona-Pandemie
Pahnke, André; Nielen, Sebastian; Dienes, Christian; … - 2023
Möglichkeiten der Finanzierung über Eigenmittel. Zusätzlich ist für die betroffenen KMU auch der Zugang zu Fremdkapital schwieriger … 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 …
Persistent link: https://www.econbiz.de/10014340153
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Why has Japan's massive government debt not wreaked havoc (yet)?
Horioka, Charles Yuji; Nomoto, Takaaki; … - 2013
In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends. We find that Japanese government securities were held primarily by domestic holders until...
Persistent link: https://www.econbiz.de/10010332404
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Why has Japan's massive government debt not wreaked havoc (yet)?
Horioka, Charles Yuji - 2013
In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends. We find that Japanese government securities were held primarily by domestic holders until...
Persistent link: https://www.econbiz.de/10010333541
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The Dynamics of External Financing
Jansson, Joakim - 2000
A dynamic process underlying firms' discrete financial choices has previously been found, but without controlling for unobserved heterogeneity, this dependence can either be of a true nature or an effect of firm-specific characteristics that we cannot observe. This study extends previous...
Persistent link: https://www.econbiz.de/10010321743
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Do financial constraints hold back innovation and growth? Evidence on the role of public policy
Hyytinen, Ari; Toivanen, Otto - 2003
This paper provides evidence that capital market imperfections hold back innovation and growth, and that public policy can complement capital markets. We deliver the evidence by studying the effects of government funding on the behavior of SMEs in Finland. By adapting the methodology recently...
Persistent link: https://www.econbiz.de/10010285181
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Dívida pública e passivo externo: Onde está a ameaça?
Gentil, Denise Lobato; Araúja, Victor Leonardo de - 2012
This work aims to analyze if the trajectory and composition of net and gross, public debt and external liabilities can hinder the growth of Brazilian GDP. The work concludes that fiscal indicators are more comfortable that external indicators. The net public debt is falling and less linked to...
Persistent link: https://www.econbiz.de/10010330718
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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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Managing debt stability
Bacchiocchi, Emanuele; Missale, Alessandro - 2005
This paper presents a simple model in which debt management stabilizes the debt-to-GDP ratio in face of shocks to real returns and output growth and thus supports fiscal restraint in ensuring sustainability. The optimal composition of public debt is derived by looking at the relative impact of...
Persistent link: https://www.econbiz.de/10010261130
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Do direct R&D subsidies lead to the monopolization of R&D in the economy?
Czarnitzki, Dirk; Ebersberger, Bernd - 2010
that the larger companies benefit from a higher likelihood of a subsidy receipt is offset by the phenomenon that smaller …
Persistent link: https://www.econbiz.de/10010303005
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Venture capital versus bank financing in innovative German firms
Schäfer, Dorothea; Talavera, Oleksandr; Zimmermann, Volker - 2007
The paper investigates young firms' choice of capital source. Our theoretical model hypothesizes a positive (negative) relation between riskiness of the project (price of venture capital) and receiving informed equity. We test our predictions by employing a unique data set collected by KfW...
Persistent link: https://www.econbiz.de/10010264956