Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants
Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked...
Ausführliche Beschreibung
Autor*in: |
Andrieu, Guillaume [verfasserIn] |
---|
Format: |
Artikel |
---|---|
Sprache: |
Englisch |
Erschienen: |
2017 |
---|
Schlagwörter: |
---|
Anmerkung: |
© Springer Science+Business Media, LLC 2017 |
---|
Übergeordnetes Werk: |
Enthalten in: Small business economics - Springer US, 1989, 51(2017), 1 vom: 19. Sept., Seite 245-264 |
---|---|
Übergeordnetes Werk: |
volume:51 ; year:2017 ; number:1 ; day:19 ; month:09 ; pages:245-264 |
Links: |
---|
DOI / URN: |
10.1007/s11187-017-9926-y |
---|
Katalog-ID: |
OLC2033131041 |
---|
LEADER | 01000caa a22002652 4500 | ||
---|---|---|---|
001 | OLC2033131041 | ||
003 | DE-627 | ||
005 | 20230504041128.0 | ||
007 | tu | ||
008 | 200819s2017 xx ||||| 00| ||eng c | ||
024 | 7 | |a 10.1007/s11187-017-9926-y |2 doi | |
035 | |a (DE-627)OLC2033131041 | ||
035 | |a (DE-He213)s11187-017-9926-y-p | ||
040 | |a DE-627 |b ger |c DE-627 |e rakwb | ||
041 | |a eng | ||
082 | 0 | 4 | |a 330 |q VZ |
084 | |a 3,2 |2 ssgn | ||
100 | 1 | |a Andrieu, Guillaume |e verfasserin |4 aut | |
245 | 1 | 0 | |a Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants |
264 | 1 | |c 2017 | |
336 | |a Text |b txt |2 rdacontent | ||
337 | |a ohne Hilfsmittel zu benutzen |b n |2 rdamedia | ||
338 | |a Band |b nc |2 rdacarrier | ||
500 | |a © Springer Science+Business Media, LLC 2017 | ||
520 | |a Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. | ||
650 | 4 | |a Bank loans | |
650 | 4 | |a Trade credit | |
650 | 4 | |a Information asymmetry | |
650 | 4 | |a SMEs | |
700 | 1 | |a Staglianò, Raffaele |4 aut | |
700 | 1 | |a van der Zwan, Peter |4 aut | |
773 | 0 | 8 | |i Enthalten in |t Small business economics |d Springer US, 1989 |g 51(2017), 1 vom: 19. Sept., Seite 245-264 |w (DE-627)170201392 |w (DE-600)1024560-1 |w (DE-576)025084968 |x 0921-898X |7 nnns |
773 | 1 | 8 | |g volume:51 |g year:2017 |g number:1 |g day:19 |g month:09 |g pages:245-264 |
856 | 4 | 1 | |u https://doi.org/10.1007/s11187-017-9926-y |z lizenzpflichtig |3 Volltext |
912 | |a GBV_USEFLAG_A | ||
912 | |a SYSFLAG_A | ||
912 | |a GBV_OLC | ||
912 | |a SSG-OLC-WIW | ||
912 | |a GBV_ILN_26 | ||
912 | |a GBV_ILN_110 | ||
912 | |a GBV_ILN_4012 | ||
951 | |a AR | ||
952 | |d 51 |j 2017 |e 1 |b 19 |c 09 |h 245-264 |
author_variant |
g a ga r s rs d z p v dzp dzpv |
---|---|
matchkey_str |
article:0921898X:2017----::aketntaerdtoseierpfridsradon |
hierarchy_sort_str |
2017 |
publishDate |
2017 |
allfields |
10.1007/s11187-017-9926-y doi (DE-627)OLC2033131041 (DE-He213)s11187-017-9926-y-p DE-627 ger DE-627 rakwb eng 330 VZ 3,2 ssgn Andrieu, Guillaume verfasserin aut Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants 2017 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2017 Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. Bank loans Trade credit Information asymmetry SMEs Staglianò, Raffaele aut van der Zwan, Peter aut Enthalten in Small business economics Springer US, 1989 51(2017), 1 vom: 19. Sept., Seite 245-264 (DE-627)170201392 (DE-600)1024560-1 (DE-576)025084968 0921-898X nnns volume:51 year:2017 number:1 day:19 month:09 pages:245-264 https://doi.org/10.1007/s11187-017-9926-y lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_110 GBV_ILN_4012 AR 51 2017 1 19 09 245-264 |
spelling |
10.1007/s11187-017-9926-y doi (DE-627)OLC2033131041 (DE-He213)s11187-017-9926-y-p DE-627 ger DE-627 rakwb eng 330 VZ 3,2 ssgn Andrieu, Guillaume verfasserin aut Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants 2017 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2017 Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. Bank loans Trade credit Information asymmetry SMEs Staglianò, Raffaele aut van der Zwan, Peter aut Enthalten in Small business economics Springer US, 1989 51(2017), 1 vom: 19. Sept., Seite 245-264 (DE-627)170201392 (DE-600)1024560-1 (DE-576)025084968 0921-898X nnns volume:51 year:2017 number:1 day:19 month:09 pages:245-264 https://doi.org/10.1007/s11187-017-9926-y lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_110 GBV_ILN_4012 AR 51 2017 1 19 09 245-264 |
allfields_unstemmed |
10.1007/s11187-017-9926-y doi (DE-627)OLC2033131041 (DE-He213)s11187-017-9926-y-p DE-627 ger DE-627 rakwb eng 330 VZ 3,2 ssgn Andrieu, Guillaume verfasserin aut Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants 2017 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2017 Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. Bank loans Trade credit Information asymmetry SMEs Staglianò, Raffaele aut van der Zwan, Peter aut Enthalten in Small business economics Springer US, 1989 51(2017), 1 vom: 19. Sept., Seite 245-264 (DE-627)170201392 (DE-600)1024560-1 (DE-576)025084968 0921-898X nnns volume:51 year:2017 number:1 day:19 month:09 pages:245-264 https://doi.org/10.1007/s11187-017-9926-y lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_110 GBV_ILN_4012 AR 51 2017 1 19 09 245-264 |
allfieldsGer |
10.1007/s11187-017-9926-y doi (DE-627)OLC2033131041 (DE-He213)s11187-017-9926-y-p DE-627 ger DE-627 rakwb eng 330 VZ 3,2 ssgn Andrieu, Guillaume verfasserin aut Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants 2017 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2017 Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. Bank loans Trade credit Information asymmetry SMEs Staglianò, Raffaele aut van der Zwan, Peter aut Enthalten in Small business economics Springer US, 1989 51(2017), 1 vom: 19. Sept., Seite 245-264 (DE-627)170201392 (DE-600)1024560-1 (DE-576)025084968 0921-898X nnns volume:51 year:2017 number:1 day:19 month:09 pages:245-264 https://doi.org/10.1007/s11187-017-9926-y lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_110 GBV_ILN_4012 AR 51 2017 1 19 09 245-264 |
allfieldsSound |
10.1007/s11187-017-9926-y doi (DE-627)OLC2033131041 (DE-He213)s11187-017-9926-y-p DE-627 ger DE-627 rakwb eng 330 VZ 3,2 ssgn Andrieu, Guillaume verfasserin aut Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants 2017 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier © Springer Science+Business Media, LLC 2017 Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. Bank loans Trade credit Information asymmetry SMEs Staglianò, Raffaele aut van der Zwan, Peter aut Enthalten in Small business economics Springer US, 1989 51(2017), 1 vom: 19. Sept., Seite 245-264 (DE-627)170201392 (DE-600)1024560-1 (DE-576)025084968 0921-898X nnns volume:51 year:2017 number:1 day:19 month:09 pages:245-264 https://doi.org/10.1007/s11187-017-9926-y lizenzpflichtig Volltext GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_110 GBV_ILN_4012 AR 51 2017 1 19 09 245-264 |
language |
English |
source |
Enthalten in Small business economics 51(2017), 1 vom: 19. Sept., Seite 245-264 volume:51 year:2017 number:1 day:19 month:09 pages:245-264 |
sourceStr |
Enthalten in Small business economics 51(2017), 1 vom: 19. Sept., Seite 245-264 volume:51 year:2017 number:1 day:19 month:09 pages:245-264 |
format_phy_str_mv |
Article |
institution |
findex.gbv.de |
topic_facet |
Bank loans Trade credit Information asymmetry SMEs |
dewey-raw |
330 |
isfreeaccess_bool |
false |
container_title |
Small business economics |
authorswithroles_txt_mv |
Andrieu, Guillaume @@aut@@ Staglianò, Raffaele @@aut@@ van der Zwan, Peter @@aut@@ |
publishDateDaySort_date |
2017-09-19T00:00:00Z |
hierarchy_top_id |
170201392 |
dewey-sort |
3330 |
id |
OLC2033131041 |
language_de |
englisch |
fullrecord |
<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01000caa a22002652 4500</leader><controlfield tag="001">OLC2033131041</controlfield><controlfield tag="003">DE-627</controlfield><controlfield tag="005">20230504041128.0</controlfield><controlfield tag="007">tu</controlfield><controlfield tag="008">200819s2017 xx ||||| 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1007/s11187-017-9926-y</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627)OLC2033131041</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-He213)s11187-017-9926-y-p</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rakwb</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="082" ind1="0" ind2="4"><subfield code="a">330</subfield><subfield code="q">VZ</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">3,2</subfield><subfield code="2">ssgn</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Andrieu, Guillaume</subfield><subfield code="e">verfasserin</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="c">2017</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">ohne Hilfsmittel zu benutzen</subfield><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Band</subfield><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">© Springer Science+Business Media, LLC 2017</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Bank loans</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Trade credit</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Information asymmetry</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">SMEs</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Staglianò, Raffaele</subfield><subfield code="4">aut</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">van der Zwan, Peter</subfield><subfield code="4">aut</subfield></datafield><datafield tag="773" ind1="0" ind2="8"><subfield code="i">Enthalten in</subfield><subfield code="t">Small business economics</subfield><subfield code="d">Springer US, 1989</subfield><subfield code="g">51(2017), 1 vom: 19. Sept., Seite 245-264</subfield><subfield code="w">(DE-627)170201392</subfield><subfield code="w">(DE-600)1024560-1</subfield><subfield code="w">(DE-576)025084968</subfield><subfield code="x">0921-898X</subfield><subfield code="7">nnns</subfield></datafield><datafield tag="773" ind1="1" ind2="8"><subfield code="g">volume:51</subfield><subfield code="g">year:2017</subfield><subfield code="g">number:1</subfield><subfield code="g">day:19</subfield><subfield code="g">month:09</subfield><subfield code="g">pages:245-264</subfield></datafield><datafield tag="856" ind1="4" ind2="1"><subfield code="u">https://doi.org/10.1007/s11187-017-9926-y</subfield><subfield code="z">lizenzpflichtig</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_USEFLAG_A</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">SYSFLAG_A</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_OLC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">SSG-OLC-WIW</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_26</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_110</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4012</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">AR</subfield></datafield><datafield tag="952" ind1=" " ind2=" "><subfield code="d">51</subfield><subfield code="j">2017</subfield><subfield code="e">1</subfield><subfield code="b">19</subfield><subfield code="c">09</subfield><subfield code="h">245-264</subfield></datafield></record></collection>
|
author |
Andrieu, Guillaume |
spellingShingle |
Andrieu, Guillaume ddc 330 ssgn 3,2 misc Bank loans misc Trade credit misc Information asymmetry misc SMEs Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants |
authorStr |
Andrieu, Guillaume |
ppnlink_with_tag_str_mv |
@@773@@(DE-627)170201392 |
format |
Article |
dewey-ones |
330 - Economics |
delete_txt_mv |
keep |
author_role |
aut aut aut |
collection |
OLC |
remote_str |
false |
illustrated |
Not Illustrated |
issn |
0921-898X |
topic_title |
330 VZ 3,2 ssgn Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants Bank loans Trade credit Information asymmetry SMEs |
topic |
ddc 330 ssgn 3,2 misc Bank loans misc Trade credit misc Information asymmetry misc SMEs |
topic_unstemmed |
ddc 330 ssgn 3,2 misc Bank loans misc Trade credit misc Information asymmetry misc SMEs |
topic_browse |
ddc 330 ssgn 3,2 misc Bank loans misc Trade credit misc Information asymmetry misc SMEs |
format_facet |
Aufsätze Gedruckte Aufsätze |
format_main_str_mv |
Text Zeitschrift/Artikel |
carriertype_str_mv |
nc |
hierarchy_parent_title |
Small business economics |
hierarchy_parent_id |
170201392 |
dewey-tens |
330 - Economics |
hierarchy_top_title |
Small business economics |
isfreeaccess_txt |
false |
familylinks_str_mv |
(DE-627)170201392 (DE-600)1024560-1 (DE-576)025084968 |
title |
Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants |
ctrlnum |
(DE-627)OLC2033131041 (DE-He213)s11187-017-9926-y-p |
title_full |
Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants |
author_sort |
Andrieu, Guillaume |
journal |
Small business economics |
journalStr |
Small business economics |
lang_code |
eng |
isOA_bool |
false |
dewey-hundreds |
300 - Social sciences |
recordtype |
marc |
publishDateSort |
2017 |
contenttype_str_mv |
txt |
container_start_page |
245 |
author_browse |
Andrieu, Guillaume Staglianò, Raffaele van der Zwan, Peter |
container_volume |
51 |
class |
330 VZ 3,2 ssgn |
format_se |
Aufsätze |
author-letter |
Andrieu, Guillaume |
doi_str_mv |
10.1007/s11187-017-9926-y |
dewey-full |
330 |
title_sort |
bank debt and trade credit for smes in europe: firm-, industry-, and country-level determinants |
title_auth |
Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants |
abstract |
Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. © Springer Science+Business Media, LLC 2017 |
abstractGer |
Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. © Springer Science+Business Media, LLC 2017 |
abstract_unstemmed |
Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research. © Springer Science+Business Media, LLC 2017 |
collection_details |
GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_26 GBV_ILN_110 GBV_ILN_4012 |
container_issue |
1 |
title_short |
Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants |
url |
https://doi.org/10.1007/s11187-017-9926-y |
remote_bool |
false |
author2 |
Staglianò, Raffaele van der Zwan, Peter |
author2Str |
Staglianò, Raffaele van der Zwan, Peter |
ppnlink |
170201392 |
mediatype_str_mv |
n |
isOA_txt |
false |
hochschulschrift_bool |
false |
doi_str |
10.1007/s11187-017-9926-y |
up_date |
2024-07-03T15:49:22.051Z |
_version_ |
1803573539167535104 |
fullrecord_marcxml |
<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01000caa a22002652 4500</leader><controlfield tag="001">OLC2033131041</controlfield><controlfield tag="003">DE-627</controlfield><controlfield tag="005">20230504041128.0</controlfield><controlfield tag="007">tu</controlfield><controlfield tag="008">200819s2017 xx ||||| 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1007/s11187-017-9926-y</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627)OLC2033131041</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-He213)s11187-017-9926-y-p</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rakwb</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="082" ind1="0" ind2="4"><subfield code="a">330</subfield><subfield code="q">VZ</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">3,2</subfield><subfield code="2">ssgn</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Andrieu, Guillaume</subfield><subfield code="e">verfasserin</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Bank debt and trade credit for SMEs in Europe: firm-, industry-, and country-level determinants</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="c">2017</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">ohne Hilfsmittel zu benutzen</subfield><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Band</subfield><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">© Springer Science+Business Media, LLC 2017</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Abstract This paper examines differences in the ability to obtain capital—bank loans and trade credit—between firms, industries, and countries using survey data on European small and medium-sized enterprises (SMEs) from 2009 to 2014. The results show that firm age and firm size are positively linked to SMEs’ access to bank loans, but only firm size is positively related to the provision of trade credit. The results also provide empirical support for a complementary rather than a substitutive effect between bank loans and trade credit. Manufacturing SMEs have a significantly higher likelihood of receiving bank loans and trade credit than non-manufacturing SMEs. We find differences across countries in terms of the relevance of firm age and firm size for obtaining capital. In addition, we point at specific country-level variables that explain why obtaining credit is easier in some countries. We perform additional analyses to confirm our baseline results and provide directions for future research.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Bank loans</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Trade credit</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Information asymmetry</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">SMEs</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Staglianò, Raffaele</subfield><subfield code="4">aut</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">van der Zwan, Peter</subfield><subfield code="4">aut</subfield></datafield><datafield tag="773" ind1="0" ind2="8"><subfield code="i">Enthalten in</subfield><subfield code="t">Small business economics</subfield><subfield code="d">Springer US, 1989</subfield><subfield code="g">51(2017), 1 vom: 19. Sept., Seite 245-264</subfield><subfield code="w">(DE-627)170201392</subfield><subfield code="w">(DE-600)1024560-1</subfield><subfield code="w">(DE-576)025084968</subfield><subfield code="x">0921-898X</subfield><subfield code="7">nnns</subfield></datafield><datafield tag="773" ind1="1" ind2="8"><subfield code="g">volume:51</subfield><subfield code="g">year:2017</subfield><subfield code="g">number:1</subfield><subfield code="g">day:19</subfield><subfield code="g">month:09</subfield><subfield code="g">pages:245-264</subfield></datafield><datafield tag="856" ind1="4" ind2="1"><subfield code="u">https://doi.org/10.1007/s11187-017-9926-y</subfield><subfield code="z">lizenzpflichtig</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_USEFLAG_A</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">SYSFLAG_A</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_OLC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">SSG-OLC-WIW</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_26</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_110</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4012</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">AR</subfield></datafield><datafield tag="952" ind1=" " ind2=" "><subfield code="d">51</subfield><subfield code="j">2017</subfield><subfield code="e">1</subfield><subfield code="b">19</subfield><subfield code="c">09</subfield><subfield code="h">245-264</subfield></datafield></record></collection>
|
score |
7.3993263 |