Crowdinvesting ist geprägt von einer Vielzahl von Partikularinteressen, wobei den Portalen eine Schnittstellenfunktion zukommt. Die Nutzung der durchaus vielversprechenden Potenziale dieser Finanzierungsform hängt maßgeblich davon ab, inwieweit es gelingt, den Informationsasymmetrien und...

We empirically examine whether a major government intervention in the small-firm credit market yields significantly better results in markets that are less financially developed. The government intervention that we investigate is SBA-guaranteed lending. The literature on financing small and...

Since small businesses typically rely on small banks as their primary source of financing, there are concerns that the wave of bank consolidation of the 1990s may have reduced the availability of loans to small businesses in the US. Using a panel of state-level banking information over...

Small corporations are the engine room whilst the forgotten corner of the Australian economy. Regulatory burdens are hampering the small corporations from performing to their optimal, which consequently impairs the economic growth of the nation. For policy decision makers, quantifying the...

The annually increasing firm churn has significant financial, legal and social impacts on productivity, employment and economic growth in Australia. However, evidence of the impacts of firm churn is sparse. This paper undertakes a first-ever study that empirically investigates the determinants...

Information problems in small enterprise credit markets can result in a market equilibrium characterized by credit rationing. These information problems are potentially more severe during sharp economic downturns such as the recent Great Recession. Government interventions to alleviate credit...

The current data from the Central Bureau of Statistics of Indonesia (BPS) regarding the number of small, medium enterprises (SMEs) and large enterprises (LEs) in Indonesia from year 1999 until 2008 indeed demonstrated a dynamic behavior. Thus, the paper has objectives to discuss and propose...

This paper examines board structure and the effect of board size and composition on firm value for firms in high technology industries for the period 1995-2008. I find that high-tech firms, generally characterized by asymmetric information and growth opportunities, have board sizes 2.9% smaller...

This study investigates the financial disclosure policy of small and medium-sized enterprises listed on a stock market with very low disclosure requirements: the Free Market of the Euronext Stock Exchange. In contrast to firms listed on a regulated stock market, firms on the Free Market do not...

In a typical "phoenix syndrome" scenario, a small business entrepreneur who controls the financially distressed Company A registers Company B, to which the assets of Company A are transferred in what appears to be fraudulent conveyance. Company B serves as a vehicle through which the business is...