During the Covid-19 crisis, the Portuguese government has provided a plethora of different support measures for firms. These included state-guaranteed loans and a public moratorium for existing loans. This paper examines the access to and uptake of these measures. What were the characteristics...

Purpose This paper reviews the literature on zombie firms to provide a holistic view by delineating their formation, impact, widespread nature, prevention and policy implications. Design/methodology/approach This paper uses a systematic literature review methodology, in which 76 papers published...

An entrepreneur chooses a relationship bank or market finance. The advantage of bank finance is that the quality of the entrepreneur's project is identified early, allowing to liquidate low-quality projects. The loan contract induces an efficient continuation decision if the entrepreneur has...

An entrepreneur chooses a relationship bank or market finance. The advantage of bank finance is that the quality of the entrepreneur’s project is identified early, allowing to liquidate low-quality projects. The loan contract induces an efficient continuation decision if the entrepreneur has...