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Capital structure determinants in German SMEs : panel analysis and policy recommendations

Shugliashvili, Teona; Pirveli, Erekle; Munjishvili, Tea; … - In: Credit and capital markets : Kredit und Kapital 56 (2023) 3/4, pp. 313-351

non-debt tax shields affect SME leverage; 2) Policies addressing the term spread and economic uncertainty influence debt … the importance of factors such as the non-debt tax shield, firm size, interest rate spread, and the economic policy … Panel Fractional (DPF) estimator to identify the key variables influencing the debt-to-equity ratio. The findings underscore …

Persistent link: https://www.econbiz.de/10015188165

Innovation and investment funding in the post-crisis period : have financing patterns and financial constraints of German firms changed?

Schäfer, Dorothea; Stephan, Andreas - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 1, pp. 129-142

This study examines the actual funding behavior of German innovative firms in the pre- and post-crisis period. Specifically, we investigate if and how the funding patterns and financial constraints of German small and medium enterprises (SME) changed during and since the financial crisis. The...

Persistent link: https://www.econbiz.de/10011916059

Firming up the capital base of the Austrian business sector : consolidating Austria's business sector strengths and its social role in the face of new challenges

Dlugosch, Dennis; Gönenç, Rauf; Kim, Eun Jung; … - 2020

performance levels. The capital structure of Austrian SMEs are biased towards debt-financing and stronger equity, growth and …

Persistent link: https://www.econbiz.de/10012203255

On the dynamics of small and medium-sized enterprises : evidence from Japan

Yamada, Kazuo; El Kalak, Izidin; Takahashi, Hidenori - 2018

The main objective of this paper is to understand how the changes in the macroeconomic conditions (the global financial crisis) relate to the investment and financial decision-making for each of the different size categories of SMEs. To do so, we use a large dataset of 764,963 observations in...

Persistent link: https://www.econbiz.de/10011804488

Bank credit and market-based finance for corporations : the effects of minibond issuances

Ongena, Steven; Pinoli, Sara; Rossi, Paola; Scopelliti, … - 2020

their leverage …

Persistent link: https://www.econbiz.de/10012419623

Bank credit and market-based finance for corporations : the effects of minibond issuances

Ongena, Steven; Pinoli, Sara; Rossi, Paola; Scopelliti, … - 2020

-post performance, we find that issuer firms expand their total assets and fixed assets, and also raise their leverage. …

Persistent link: https://www.econbiz.de/10012390449

Leveraging SME finance through value chains in Kazakhstan

Kapparov, Kassymkhan - 2019

One of the major issues for SME development has been access to finance. This paper examines the current state of SME development and financing in Kazakhstan. It also examines the current state of the development of value chains and discusses barriers for agriculture value chain financing. The...

Persistent link: https://www.econbiz.de/10012113904

Bank credit and market-based finance for corporations : the effects of minibond issuances

Ongena, Steven; Pinoli, Sara; Rossi, Paola; Scopelliti, … - 2021

issuer firms expand their total assets and fixed assets, and also raise their leverage …

Persistent link: https://www.econbiz.de/10012614108

External financing and firm growth : evidence from Micro, Small, and Medium Enterprises in Iran

Cheratian, Iman; Goltabar, Saleh; Fereidouni, Hassan … - 2023

This study examines the relationship between access to finance and growth in sales for Micro, Small, and Medium Enterprises (MSMEs) in Iran. Using data from 486 firms in five provinces, our findings indicate that external financing positively impacts sales growth for MSMEs. The results suggest...

Persistent link: https://www.econbiz.de/10014245441

EPU and SMEs' financial performance : industry vs. service sector

Orden-Cruz, Carmen; Paule-Vianez, Jessica; Cruz … - In: Journal of open innovation : technology, market, and … 10 (2024) 3, pp. 1-9

The objective of this paper is to analyze the Economic Policy Uncertainty impact on Small and Medium Enterprises' financial performance, considering the role that sector plays and firm characteristics. Thus, a data sample of 80,620 Spanish SMEs was selected for 2012-2020. Using system...

Persistent link: https://www.econbiz.de/10015071482