This paper explores the effects of bank lending shocks on export behavior of Spanish firms. For that purpose, we combine Balance of Payments data on exports at the firm product-destination level with a matched bank-firm dataset incorporating information on the universe of corporate loans from...

This article provides an overview of sources of finance and some patterns of financing for entrepreneurial firms in Canada. Based on Miglo (2018), we compare the predictions of major theories of entrepreneurial finance (flexibility theory of capital structure, asymmetric information, credit...

The aim of this paper is a systematic presentation of the European Commission's proposal for a Council Regulation “on the establishment of the European Monetary Fund” (EMF) of 6 December 2017, including the European Monetary Fund's Statute, annexed thereto. It is beyond the paper's scope to...

Articles 37(10) and 56-58 of Directive 2014/59/EU of the European Parliament and of the Council, of 15 May 2014, “establishing a framework for the recovery and resolution of credit institutions and investment firms (...)” (hereinafter the ‘BRRD') govern the provision of ‘extraordinary...

Flexibility theory of capital structure, asymmetric information, credit rationing, life cycle theory and market timing are consistent with many patterns of financing of entrepreneurial or small/medium size enterprises (SME) in Canada. Tax theory of capital structure does not seem to play a...

The rise in non-tariff protectionist measures has been associated to the weakness in global trade over the last few years. We investigate the effect of non-tariff barriers (NTBs) on exports growth over the period 2009-2013 using administrative data at the firm-product-destination level in Spain....

Flexibility theory of capital structure, credit rationing, and stage-financing theory are consistent with many patterns of financing of entrepreneurial or small/medium size enterprises (SME). Tax theory of capital structure does not seem to play a significant role for SMEs as opposite to large...