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present some facts on the situation of SMEs in Europe and especially Hungary, in order to see what type of governmental …
Persistent link: https://www.econbiz.de/10008904618
Small and medium-sized enterprises are a centrepiece of Europe's economy. Due to their limited size and their generally …, a conference on "Financing SMEs in Europe" was jointly organised by SUERF and the Banque de France on 11 and 12 …
Persistent link: https://www.econbiz.de/10011705468
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/10008669982
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/10009731787
The issue of capital structure of companies is one of the most debated problems of financial management. According to economic theory, capital structure determines the stock market value of firms and therefore their viability, while one of the most negative result of the crash of 2008 and the...
Persistent link: https://www.econbiz.de/10009716831
This paper reviews the state of the banking sector in Europe. At the aggregate level, the empirical data suggest that … market thus gives a lower value to these banks. Our findings provide prima facie evidence of a credit crunch in Europe …
Persistent link: https://www.econbiz.de/10010231412
We explore the impact of concentration in the banking markets on the capital structure of publicly quoted non-financial firms in the EU15 over the period 1997- 2005, an era marked by intensive merger activity in the banking sector. Our main finding is a negative and significant relationship...
Persistent link: https://www.econbiz.de/10011384212
This article aims to analyse the evolution over the recent years of LBO funds, in terms of valuation (asset prices) and the role that leverage and corporate governance played in its evolution.Leverage is one of the positive factors that is supposed to contribute to the success of private equity,...
Persistent link: https://www.econbiz.de/10013123032
The issue of capital structure of companies is one of the most debated problems of financial management. According to economic theory, capital structure determines the stock market value of firms and therefore their viability, while one of the most negative result of the crash of 2008 and the...
Persistent link: https://www.econbiz.de/10013088172
The aim of this paper is to empirically investigate the determinants of creditor concentration in the use of bank loans by firms in a European cross-country framework. We analyze the influence of loan and borrower characteristics but also banking market structure and legal enforcement variables...
Persistent link: https://www.econbiz.de/10013157547