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When arm's length is too far : relationship banking over the business cycle
Beck, Thorsten; Degryse, Hans; Haas, Ralph de; Horen, … - 2014
Using a novel way to identify relationship and transaction banks, we study how banks' lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms' credit constraints at two...
Persistent link: https://www.econbiz.de/10010375321
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European SMEs and resource efficiency measures : firm characteristics and contextual factors
Caporale, Guglielmo Maria; Donati, Cristiana; Spagnolo, … - 2023
This paper investigates how access to finance and skilled workforce endowments affect the propensity of European small and medium sized enterprises (SMEs) to adopt different types of resource efficiency measures (REMs), possibly simultaneously. For this purpose, a Multinomial Logit model is...
Persistent link: https://www.econbiz.de/10014435290
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Small and medium sized European firms and energy efficiency measures : a probit analysis
Caporale, Guglielmo Maria; Donati, Cristiana; Spagnolo, … - 2022
This paper investigates the factors (such as different sources of financing, energy audits and internal monitoring … performance index (EPI) and on the level of economic development in turn. The results indicate that internal financing always has … a positive effect on a firm’s propensity to adopt EEMs. Private external sources of financing appear to be more …
Persistent link: https://www.econbiz.de/10013440418
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Small firms and domestic bank dependence in Europe's Great Recession
Hoffmann, Mathias; Maslov, Egor; Sørensen, Bent E. - 2019
Small businesses (SMEs) depend on banks for credit. We show that the severity of the Eurozone crisis was worse in countries where firms borrowed more from domestic banks ("domestic bank dependence") than in countries where firms borrowed more from international banks. Eurozone banking...
Persistent link: https://www.econbiz.de/10012119808
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Local capital scarcity and small firm growth : evidence from real estate booms in China
Hau, Harald; Ouyang, Difei - 2019
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/10012120233
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Gender, access to finance, occupational choice, and business performance
Gazanchyan, Nelli S.; Hashimzade, Nigar; Rodionova, Yulia; … - 2017
We present a theoretical and empirical analysis of the links between the gender of an entrepreneur, access to finance, occupational choice, and business performance. Our theoretical model predicts that, when lenders discriminate against women entrepreneurs, the average entrepreneurial skill of...
Persistent link: https://www.econbiz.de/10011610923
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Drivers and obstacles to banking SMEs : the role of competition and the institutional framework
Torre, Augusto de la; Martínez Pería, María Soledad; … - 2009
lack adequate financing, which hampers their growth. As a consequence, governments have implemented a number of programs to … factors they perceive as drivers and obstacles to financing SMEs. We also study to what degree competition and the … financing, especially long-term lending. -- small and medium enterprises, bank finance, financial constraints, banking market …
Persistent link: https://www.econbiz.de/10003850504
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Complementing business training with access to finance : evidence from SMEs in Kenya
Ashraf, Anik; Lyons, Elizabeth - 2023
This paper investigates the complementarity between business training and access to financial capital for small and medium enterprises (SMEs) in Kenya. All participants in a business training program are offered training. One-third of participants are offered loans immediately after training...
Persistent link: https://www.econbiz.de/10014332125
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Racial disparities in access to small business credit : evidence from the paycheck protection program
Howell, Sabrina T.; Kuchler, Theresa; Snitkof, David; … - 2021
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/10012643529
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All you need is cash : corporate cash holdings and investment after the global financial crisis
Joseph, Andreas; Kneer, Christiane; Horen, Neeltje van - 2021
Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while cash-poor rivals reduced theirs. This gave...
Persistent link: https://www.econbiz.de/10012509557