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We show that small firms using syndicated loans for their mid- and long-term financial needs have significantly higher leverage than firms that do not borrow in this market. This difference cannot be attributed to firm characteristics like the availability of growth opportunities, asset...
Persistent link: https://www.econbiz.de/10012890569
Traditionally, the cost of debt is seen as solely dependent on firm or debt characteristics. However, a firm's cost of debt might also be impacted by the informational environment, thereby offering a link between security transparency, asset pricing, and corporate finance. This paper measures...
Persistent link: https://www.econbiz.de/10013113872
This paper investigates two aspects of the demand side determinants of bank lending for a sample of Australian SMEs. Using data from the Growing Australian Business Survey we document the results on why a sample of Australian SMEs seek bank finance and bank credit rationing of loan applications....
Persistent link: https://www.econbiz.de/10013058883
the tool-set for SME finance, also against the background of market weaknesses for SME lending. It explains the mechanics … and logic of SME leasing and provides latest available market information. Furthermore, the paper explains in the form of … three case studies how SME leasing can be supported via credit enhancement techniques. These examples, taken from recent EIF …
Persistent link: https://www.econbiz.de/10011862387
This paper analyzes how bank regulation that promotes greater access to credit impacts the financing of targeted small firms. It develops a model where banks compete with trade creditors to fund small firms and applies it to study the effects of the Community Reinvestment Act (CRA). The...
Persistent link: https://www.econbiz.de/10013300270
This article uses European Central Bank (ECB) survey data to assess whether gender matters in the small firms’ financial structure and access to credit. Firms owned or managed by women (female firms) use smaller amounts and less heterogeneous sources of external finance than their male...
Persistent link: https://www.econbiz.de/10011397650
Small and medium enterprises (SMEs) represent a large percentage of the corporate tissue of developed countries, but they do not have adequate attention. In fact, various researchers have focused their studies on larger and well-known companies. This paper aims to investigate the impact of...
Persistent link: https://www.econbiz.de/10011435848
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Persistent link: https://www.econbiz.de/10011703872