登入選單
返回Google圖書搜尋
SMEs’ Access to Finance in the Euro Area
Bahar ÖztürkMr.Mico Mrkaic
其他書名
What Helps or Hampers?
出版International Monetary Fund, 2014-05-09
主題Business & Economics / Money & Monetary PolicyBusiness & Economics / Banks & BankingBusiness & Economics / Accounting / Financial
ISBN14843790559781484379059
URLhttp://books.google.com.hk/books?id=VJ8ZEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in bank funding costs and borrower leverage matter for firms’ access to finance. Increases in bank funding costs and borrowers’ debt-to-asset ratios are significantly and negatively associated with firms’ access to finance. The use of subsidies significantly improve access to finance of SMEs. Finally, access to finance is found to be positively related to firm size and firm age.