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of funding, the results show that bank borrowings are still the most important source of debt financing. However …, retention of earnings gains in importance for German SMEs in comparison to debt financing. …
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of funding, the results show that bank borrowings are still the most important source of debt financing. However …, retention of earnings gains in importance for German SMEs in comparison to debt financing. …
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This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study of the universe of over 200 recession episodes in 14 advanced countries between 1870 and 2008, we document two key facts of the modern business cycle: financial-crisis...
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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 …
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