Showing 1 - 10 of 14
In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small manufacturing firms and undermine their competitiveness. Using exogenous variation in the administrative land supply across 172 Chinese cities, we show that higher predicted real...
Persistent link: https://www.econbiz.de/10012859607
Small businesses (SMEs) depend on banks for credit. We show that the severity of the Eurozone crisis was worse in … banks while foreign banks' lending to the real sector stayed flat. Hence, SMEs remained dependent on domestic banks and were … sectors and countries with many SMEs vulnerable to global banking shocks …
Persistent link: https://www.econbiz.de/10012860572
-sized enterprises (SMEs). We conjecture that easy-to-understand risk ratings conveyed by the platform play a pronounced role in … influencing the borrowing success of SMEs and that more sophisticated financial information and adverse selection are largely …
Persistent link: https://www.econbiz.de/10012841146
We study the responsiveness of small and medium-sized firms to a small-business corporate income tax schedule using population-wide administrative data from South Africa. We find sizeable bunching of firms at the corporate income thresholds where the corporate tax rate increases, implying active...
Persistent link: https://www.econbiz.de/10012892299
We investigate the impact of peer-to-peer lending on the small business loans originated by US depository institutions that are subject to the Community Reinvestment Act. We present a model where a borrower can choose between a traditional bank and a crowdlending platform and show that the entry...
Persistent link: https://www.econbiz.de/10012834364
What do small firms do when given an income tax cut? We address this question by examining the consequences of a sharp reduction in the corporate income tax rate for small- and micro-profit enterprises (SMPE) in China based on confidential tax returns. Utilizing the gradual increases in the...
Persistent link: https://www.econbiz.de/10013322019
We explore the sources of racial disparities in small business lending by studying the $806 billion Paycheck Protection Program (PPP), which was designed to support small business jobs during the COVID-19 pandemic. PPP loans were administered by private lenders but federally guaranteed, largely...
Persistent link: https://www.econbiz.de/10013323971
activities) affecting the propensity of European small and medium sized enterprises (SMEs) to adopt energy efficiency measures …
Persistent link: https://www.econbiz.de/10014242027
While the COVID-19 pandemic had a large and asymmetric impact on firms, many countries quickly enacted massive business rescue programs which are specifically targeted to smaller firms. Little is known about the effects of such policies on business entry and exit, factor reallocation, and...
Persistent link: https://www.econbiz.de/10013293851
Mittelstand enterprises, defined as owner-managed SMEs. We present supporting evidence for the hypothesis that Mittelstand firms … performed more stable throughout the Great Recession than non-Mittelstand firms. We also show that owner-managed SMEs performed … significantly better than SMEs and owner-managed large enterprises. Thus, it is rather the combination of firm-size and owner …
Persistent link: https://www.econbiz.de/10013314765