and sources of financing. On the other hand, privately held firms (particularly small ones) and public firms with below …

and sources of financing. On the other hand, privately held firms (particularly small ones) and public firms with below …

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 …

systems provide constrained firms with easier access to external financing. -- Financial constraints ; financial system ; cash …