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Determinants of firms' efficiency: do innovations and finance constraints matter? : the case of European SMEs

Bonanno, Graziella; Ferrando, Annalisa; Rossi, Stefania - 2020

This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation … efficiency in order to increase profitability. Among firms that have embarked in product innovation, those in the industry and … help to better understand the link between innovation, financial constraints and efficiency, which goes beyond the idea …

Persistent link: https://www.econbiz.de/10012241105

Did Good Corporate Governance Improve Bank Performance During the Financial Crisis?

Vähämaa, Emilia - 2012

This paper focuses on the effects of corporate governance on bank performance during the financial crisis of 2008. Using data on large publicly-traded U.S. banks, we examine whether banks with stronger corporate governance mechanisms were associated with higher profitability and better stock...

Persistent link: https://www.econbiz.de/10013115321

Corporate Governance and Stock Price Performance During the Financial Crisis : Evidence from Japan

Nogata, Daisuke - 2010

Previous studies have investigated the argument that corporate governance structures in emerging markets affected firms' stock price performance during the East Asian economic crisis. In this chapter, we analyze how corporate governance structures in an industrial country (Japan) affect firms'...

Persistent link: https://www.econbiz.de/10013150370

Access to finance and firm performance : evidence from African countries

Fowowe, Babajide - In: Review of development finance 7 (2017) 1, pp. 6-17

This study conducts an empirical investigation of the effects of access to finance on the growth of firms in African countries. In order to achieve this, we made use of a new rich enterprise-level data set from the World Bank's Enterprise Surveys and employ both subjective and objective measures...

Persistent link: https://www.econbiz.de/10011714406

Effect of financial constraints on the growth of family and nonfamily firms in Turkey

Ergün, Bahadır; Doruk, Ömer Tuğsal - In: Financial innovation : FIN 6 (2020) 28, pp. 1-24

This study examined whether family-owned firms have advantages for accessing external financial sources for growth. Especially in developing countries with imperfect markets, firms can face difficulties accessing external financing sources; however, family-owned firms might have some advantages...

Persistent link: https://www.econbiz.de/10012268930

Aggregate consequences of credit subsidy policies : firm dynamics and misallocation

Jo, Hwan; Senga, Tatsuro - 2017

Government policies that attempt to alleviate credit constraints faced by small and young firms are widely adopted across countries. We study the aggregate impact of such targeted credit subsidies in a heterogeneous firm model with collateral constraints and endogenous entry and exit. A defining...

Persistent link: https://www.econbiz.de/10011756140

The effects of EU-funded guarantee instruments of the performance of small and medium enterprises : evidence from France

Bertoni, Fabio; Colombo, Massimo G.; Quas, Anita - 2018

This paper provides a policy-oriented summary of the econometric study commissioned by the European Court of Auditors, in the context of its audit of EU-funded loan guarantee instruments.2 The study assesses the real performance effects of EU-guaranteed loans to SMEs disbursed in France during...

Persistent link: https://www.econbiz.de/10011939685

Financial Constraints, Firm Growth and the Dynamics of U.S. Firm Size Distribution

Tan, Elaine S. - 2011

Using data drawn from the universe of firms to avoid sample censoring problems, this paper finds financial constraints to be binding on mid-sized firms and those in construction and services sectors only. Growth of the majority of firms is unaffected by financial burdens. Firm size distribution...

Persistent link: https://www.econbiz.de/10013118141

The Impact of Cross-Delisting From the U.S. on Firms’ Financial Constraints

Loureiro, Gilberto R. - 2019

We investigate the impact of cross-delisting on firms' financial constraints. We find that firms that cross-delisted from a U.S. stock exchange face stronger post-delisting financial constraints than their cross-listed counterparts, as measured by investment-to-cash flow and cash-to-cash flow...

Persistent link: https://www.econbiz.de/10012858822

Financial Constraints and Firm Dynamics

Bottazzi, Giulio; Secchi, Angelo; Tamagni, Federico - 2021

This study analyzes the effect of financial constraints (FCs) on firm dynamics. We measure FCs with an official credit rating, which captures availability and cost of external resources. We find that FCs undermine average firm growth, induce anti-correlation in growth patterns and reduce the...

Persistent link: https://www.econbiz.de/10013313621

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