facing financing obstacles. Our results indicate that, though based on few variables, this measure appears to be relevant in … faced by firms, such as cash flow (debt burden) are found to exert a positive (negative) impact on firm growth, while the … results for leverage are less clear-cut. -- Financing constraints ; firm growth, panel data …

The existing finance literature is inadequate with respect to its coverage of the debt structure of small and medi …-investigated. This paper presents a mathematical model for optimizing the debt structure of SMEs that, since SMEs are often equity … constrained, focuses on optimizing debt structure by minimizing its cost. The model is then extended by incorporating the level of …

This paper investigates the determinants of capital structure and use of financing for small and medium sized … of capital structure and financing. For asset structure the direction of the influence is reliant upon the capital … structure or financing measure employed. The results generally support static trade-off and pecking order arguments proposed by …

to test to what degree the financing patterns were steady during the observed period (2001-2012). Specifically, in … notion in Poland. Our results show that financing patterns changed importantly during the last 20 years, which manifests … itself mainly in gradual increase in debt ratios with a dominant role of short-term debt, along with the decrease in the …

importance of SMEs for national economies will be shown. After that the financing of SMEs in selected countries will be analysed …

This paper examines the financing structure of small and medium-sized enterprises (SMEs) in Germany and questions … whether an equity gap - or, more generally, a financing gap -exists. Reviewing the literature and available data sources, we … find that financing constraints seem to affect, if at all, only a very small subgroup among highly growth-oriented firms …

of financing sources may be limited by the supply-side financial endowment of the region. Small firms are known to be … heavily reliant on internal finance and the quantity and price channels are expected to drive usage of debt. Our findings on … in their region. These results point out that semi-local and national institutions tend to drive away usage of debt due …

This paper investigates how entrepreneur’s characteristics determine debt financing of small manufacturing firms. In … entrepreneur’s educational level on small firm debt financing. Research results show that small firm debt financing is determined …