This paper provides an in-depth analysis of small and medium enterprise (SME) access to capital markets across Eurozone countries. First, we determine which factors-at firm and country level-influence the likelihood of SME access to market-based finance. Second, we construct an index of market suitability to indicate the percentage of firms potentially fit for market-based finance. Our results suggest that while several Eurozone countries have realised SMEs' 'potential' for capital market financing, a large number of firms fit for market-based finance remain unexploited. We also find that overall business conditions-measured by GDP growth, the development degree of domestic financial markets and the quality of the legal and judicial enforcement system-considerably influence a firm's market suitability. In the studied period (2009-2014), macro-economic and institutional factors tended to reduce the likelihood of SMEs accessing market-based finance in most countries in our sample
Bongini, P., Ferrando, A., Rossi, E., & Rossolini, M. (2021). SME access to market-based finance across Eurozone countries. SMALL BUSINESS ECONOMICS, 56(4), 1667-1697 [10.1007/s11187-019-00285-z].
Citazione: | Bongini, P., Ferrando, A., Rossi, E., & Rossolini, M. (2021). SME access to market-based finance across Eurozone countries. SMALL BUSINESS ECONOMICS, 56(4), 1667-1697 [10.1007/s11187-019-00285-z]. | |
Tipo: | Articolo in rivista - Articolo scientifico | |
Carattere della pubblicazione: | Scientifica | |
Presenza di un coautore afferente ad Istituzioni straniere: | Si | |
Titolo: | SME access to market-based finance across Eurozone countries | |
Autori: | Bongini, P; Ferrando, A; Rossi, E; Rossolini, M | |
Autori: | ||
Data di pubblicazione: | 2021 | |
Lingua: | English | |
Rivista: | SMALL BUSINESS ECONOMICS | |
Digital Object Identifier (DOI): | http://dx.doi.org/10.1007/s11187-019-00285-z | |
Appare nelle tipologie: | 01 - Articolo su rivista |
File in questo prodotto:
File | Descrizione | Tipologia | Licenza | |
---|---|---|---|---|
BFRR_SBE_DefOnlinePDF.pdf | Publisher's version | Administrator Richiedi una copia | ||
BFRR_SBJ_3rdrevFinal_with_author_names.pdf | Postprint | Open Access Visualizza/Apri |