The current crisis raises the question whether loans to SMEs in emerging markets areinherently more risky. We use a … unique unbalanced panel of nearly 700 loans made toSMEs in Slovakia between 2000 and 2005. Several probit and panel probit … indebtedness significantly increases the probability of default.Finally, liability as proxied by the legal form of SMEs has …

unbalanced panel of nearly 700 short-term loans made to SMEs in Slovakia between January 2000 and June 2005. Of the loans granted …, on average 6.0 per cent of the firms defaulted. Several probit models and panel probit models show that liquidity and … profitability factors are important determinants of SMEs defaults, while debt factors are less robust. However, we find that above …

unbalanced panel of nearly 700 short-term loans made to SMEs in Slovakia between January 2000 and June 2005. Of the loans granted …, on average 6.0 per cent of the firms defaulted. Several probit models and panel probit models show that liquidity and … profitability factors are important determinants of SMEs defaults, while debt factors are less robust. However, we find that above …

unbalanced panel of nearly 700 short-term loans made to SMEs in Slovakia between January 2000 and June 2005. Of the loans granted …, on average 6.0 per cent of the firms defaulted. Several probit models and panel probit models show that liquidity and … profitability factors are important determinants of SMEs defaults, while debt factors are less robust. However, we find that above …

unbalanced panel of nearly 700 shortterm loans made to SMEs in Slovakia between January 2000 and June 2005. Of the loans granted …, on average 6.0 per cent of the firms defaulted. Several probit models and panel probit models show that liquidity and … profitability factors are important determinants of SMEs defaults, while debt factors are less robust. However, we find that above …

investigate whether this is true for loans to SMEs using a unique unbalanced panel of nearly 700 loans made to SMEs in Slovakia … between 2000 and 2005. Several probit and panel probit models show that liquidity and profitability factors are important … proxied by the legal form of SMEs has important incentive effects. Finally, there exist significant differences between …