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The diffusion of internal rating systems changes the scenario of the financial strategy adopted by firms. The objective of the work consists of understanding how firms can respond to increasingly complex strategies that require an operative and managerial maturity, by building an optimum...
Persistent link: https://www.econbiz.de/10011157742
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. We do not detect any structural problems in average SME's capital structure. Rather, German Mittelstand firms appear to … ; financing gap ; financing structure ; SME …
Persistent link: https://www.econbiz.de/10003785483
This paper reviews the evidence on financing technology-based small firms (TBSFs) in Europe. The main findings in the …
Persistent link: https://www.econbiz.de/10008729547
This paper examines the role of trade credit in a comprehensive panel of 290,301 SMEs across 15 European countries over the period 2003-2012. The results show that trade credit served as an important source of finance for credit constrained firms, and that the financial position of firms...
Persistent link: https://www.econbiz.de/10012904371
This paper investigates the determining factors of bank monitoring in small business lending. Unlike previous studies that have relied on proxies of a bank's monitoring effort, we use a large and unique data set that includes the number of monitoring contacts per year between a European bank and...
Persistent link: https://www.econbiz.de/10012937271
relationship is particularly strong in southern Europe (Italy and Spain), where financial frictions are larger and the use of …
Persistent link: https://www.econbiz.de/10012984484
We examine the use of trade credit in Western Europe by relying on a sample of 182,296 small firms for the period 2003 … that countries’ cultural norms play a key role in explaining trade credit differences in Europe. We find that in countries …
Persistent link: https://www.econbiz.de/10013219575
empirical taxonomy of SME financing patterns in Europe, applying cluster analyses. In order to investigate the cluster stability … of SMEs. Our results confirm the results of Moritz et al. (2016) and show that European SME financing is not homogenous …, but that different financing patterns exist. Our cluster analysis identifies seven distinct SME financing types based on …
Persistent link: https://www.econbiz.de/10011861055
The main purpose of this paper is to evaluate corporate debt ratios by size classes in Continental Europe. Evidence is …
Persistent link: https://www.econbiz.de/10008633403