This paper provides a quantitative comparison of the financial patterns of non-financial European firms for seven Continental European countries and the period 1991-2001. Our analytical framework departs from the common one as we consider that long-term and short-term sources of funds have to be...

This paper investigates empirically the use of short-term bank loans by firms. We face two analytical frameworks. According to the corporate finance theory, short-term and long-term ebts are substitutes, while in the credit channel literature they are distinct and complementary vehicles. We...

This study examines the financial structures and the performances of small and medium-sized enterprises (SMEs) as opposed to large enterprises (LEs) on the basis of the BACH database, which is the most advanced publicly available database for comparisons in this field. It covers the period...