Showing 1 - 10 of 69
We investigate the effect of sovereign stress and of unconventional monetary policy on small firms’ financing patterns during the euro area debt crisis. We find that after the crisis started, firms in stressed countries were more likely to be credit rationed, both in the quantity and in the...
Persistent link: https://www.econbiz.de/10011605865
SME investment opportunities depend on the level of financing constraints that firms face. Earlier research has mainly focused on the controversial argument that cash flow-investment correlations increase with the level of these constraints. We focus on bank loans rather than cash flow. Our...
Persistent link: https://www.econbiz.de/10010292178
Persistent link: https://www.econbiz.de/10000986012
Persistent link: https://www.econbiz.de/10001210479
Persistent link: https://www.econbiz.de/10001249357
Persistent link: https://www.econbiz.de/10011602626
enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national … a homogeneous group, unsuitable for serving informationally opaque SMEs, and a frequent misleading conclusion is that … large institutions are disadvantaged in lending to opaque SMEs. "--World Bank web site …
Persistent link: https://www.econbiz.de/10010522405
Persistent link: https://www.econbiz.de/10010522992
Large and foreign-owned institutions may have difficulty extending relationship loans to informationally opaque small firms. Bank distress does not appear to affect small business lending, although even small firms may react to bank distress by borrowing from multiple banks
Persistent link: https://www.econbiz.de/10010523978
Persistent link: https://www.econbiz.de/10011793241