This paper analyzes the impact of the guarantee provided by mutual guarantee societies (MGSs) on the risk premium that banks should charge for small- and medium-sized enterprise (SME) loans under the new Basel Capital Accords (Basel II and III). We also examine whether the foreseeable decrease...

Metodología / Anahí Briozzo, M. Belén Guercio -- Características generales / Yanina Laumann , M. Belén Guercio, Juan I. Esandi -- ¿Cómo se financian las PyMEs? / Anahí Briozzo, Natalia Castillo, Valeria Scherger, Luciana Villar -- La decisión de estructura de capital en las PYMEs /...

The article analyzes the factors determining the capital structure of the Spanish small and medium enterprises [SMEs]. The analysis is grounded on the agency theory, the signalling approach and the pecking order theory. In particular, the article provides a qualitative and quantitative analysis...