Small- and Medium-Size Enterprise Financing in Eastern Europe PDF Download
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Author: Leora F. Klapper
Publisher:
ISBN:
Category :
Languages : en
Pages : 53
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Book Description
There is currently a large interest in understanding firms' access to finance, particularly in the financing of small- and medium-size enterprises (SMEs). But the financing patterns of SMEs across countries is not well understood. For example, little is known about the relative importance of equity, debt, and inter-firm financing for SMEs across countries.The authors use the Amadeus database, which includes financial information on over 97,000 private and publicly traded firms in 15 Eastern and Central European countries. The Amadeus database allows the authors the opportunity to provide a new analysis of the general financing patterns of private firms across a large sample of Eastern European countries. The summanry statistics show that the size of the SME sector (as measured by the percentage of total employment) in Eastern European countries is smaller than in most developed economies. Although the authors find in almost every country in the sample a large number of SMEs as a percentage of total firms, the SMEs in Eastern Europe are generally small and hire few employees. However, SMEs seem to constitute the most dynamic sector of the Eastern European economies, relative to large firms. In general, the SME sector comprises relatively younger, more highly leveraged, and more profitable and faster growing firms. This suggests that a new type of firm is emerging in transition economies that is more market- and profit-oriented. But at the same time, these firms appear to have financial constraints that impede their access to long-term financing and ability to grow.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to better understand small- and medium-size enterprise financing.
Author: Leora F. Klapper
Publisher:
ISBN:
Category :
Languages : en
Pages : 53
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Book Description
There is currently a large interest in understanding firms' access to finance, particularly in the financing of small- and medium-size enterprises (SMEs). But the financing patterns of SMEs across countries is not well understood. For example, little is known about the relative importance of equity, debt, and inter-firm financing for SMEs across countries.The authors use the Amadeus database, which includes financial information on over 97,000 private and publicly traded firms in 15 Eastern and Central European countries. The Amadeus database allows the authors the opportunity to provide a new analysis of the general financing patterns of private firms across a large sample of Eastern European countries. The summanry statistics show that the size of the SME sector (as measured by the percentage of total employment) in Eastern European countries is smaller than in most developed economies. Although the authors find in almost every country in the sample a large number of SMEs as a percentage of total firms, the SMEs in Eastern Europe are generally small and hire few employees. However, SMEs seem to constitute the most dynamic sector of the Eastern European economies, relative to large firms. In general, the SME sector comprises relatively younger, more highly leveraged, and more profitable and faster growing firms. This suggests that a new type of firm is emerging in transition economies that is more market- and profit-oriented. But at the same time, these firms appear to have financial constraints that impede their access to long-term financing and ability to grow.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to better understand small- and medium-size enterprise financing.
Author: Leora Klapper
Publisher: World Bank Publications
ISBN:
Category : New business enterprises
Languages : en
Pages : 60
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Book Description
There is currently a large interest in understanding firms' access to finance, particularly in the financing of small- and medium-size enterprises (SMEs). But the financing patterns of SMEs across countries is not well understood. For example, little is known about the relative importance of equity, debt, and inter-firm financing for SMEs across countries. The authors use the Amadeus database, which includes financial information on over 97,000 private and publicly traded firms in 15 Eastern and Central European countries. The Amadeus database allows the authors the opportunity to provide a new analysis of the general financing patterns of private firms across a large sample of Eastern European countries. The summary statistics show that the size of the SME sector (as measured by the percentage of total employment) in Eastern European countries is smaller than in most developed economies. Although the authors find in almost every country in the sample a large number of SMEs as a percentage of total firms, the SMEs in Eastern Europe are generally small and hire few employees. However, SMEs seem to constitute the most dynamic sector of the Eastern European economies, relative to large firms. In general, the SME sector comprises relatively younger, more highly leveraged, and more profitable and faster growing firms. This suggests that a new type of firm is emerging in transition economies that is more market- and profit-oriented. But at the same time, these firms appear to have financial constraints that impede their access to long-term financing and ability to grow.
Author: Frank H. Columbus
Publisher: Nova Publishers
ISBN: 9781560726876
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
Central and Eastern Europe present more than a trivial challenge to the Developed Nations of the world as well as to themselves. Will they represent new markets, new sources of low-cost labour, or populations taking every action and avenue conceivable to emigrate to the Developed Nations? Will they be integrated into the Western economies and political structures or lose themselves into defensive postures and pose threats to the Developed Nations? This new series is intended to present current analyses of political and economic developments and trends in this crucial part of the world.
Author: Zdenek Drabek
Publisher: Springer
ISBN: 1349238007
Category : Business & Economics
Languages : en
Pages : 259
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Book Description
The book examines in depth the progress of reform in the banking sector in Eastern Europe - which is a key element in its transition to the market. Particular emphasis is placed on the problem of bad debts owed by companies to banks, and on criteria and options for overcoming this serious problem. The book also analyses the recent development of capital markets in Eastern Europe, their role in attracting foreign capital flows and the limitations to the development of those markets and suggests how to overcome them. Based on analysis by senior policy-makers and academics from the region , the book focuses on four countries: the former Czechoslovakia (now the Czech and Slovak Republics), Hungary and Poland.
Author: Anjali Kumar
Publisher: World Bank Publications
ISBN: 0821361295
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
'Enterprise Size, Financing Patterns, and Credit Constraints in Brazil' investigates the importance of firm size with respect to accessing credit. The principal findings are that size strongly affects access to credit compared to firm performance, and other factors, such as management education, location or the industrial sector to which the firm belongs. Additional findings are that the impact of size on access to credit is greater for longer term loans and that public financial institutions are more likely to lend to large firms. Finally, financial access constraints may have a less significant differential impact across firms of different sizes than other constraints, though cost of finance as a constraint is very important.
Author: Marietta Janowicz-Lomott
Publisher: Springer Nature
ISBN: 3030399273
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
This proceedings book presents selected papers from the 10th international conference on the "Economies of the Balkan and Eastern European Countries in the Changing World" (EBEEC), held in Warsaw, Poland, in May 2018. In addition to discussing the latest research, it includes papers adopting a wide variety of theoretical approaches and empirical methodologies and covering a number of key areas, such as international economics, economic growth, finance and banking, insurance, healthcare, agriculture, labor and energy markets, innovation, management and marketing. In addition, the authors discuss policy instruments and best practices for the region. This book appeals to scholars and students in fields of economics and finance as well as practitioners interested in the development of the region.
Author: Jens Jungmann
Publisher: Springer Science & Business Media
ISBN: 3834965537
Category : Business & Economics
Languages : en
Pages : 629
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Book Description
During the past few years all the regions of Europe have suffered from the effects of the World Financial Crisis. Most notably in Eastern Europe, countries have adopted different approaches to combat the crisis and the impact has been varying – politically, economically and socially. This book gives an overview of chosen countries and their situation before and during the crisis, providing a detailed view of the different regions during this difficult period. It also looks at their current status and the individual ways in which they have attempted to stimulate recovery.
Author: Alberto Quadrio Curzio
Publisher: Springer Science & Business Media
ISBN: 3790820342
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
The enlargement of the European Union towards the East from May 2004 has generated an increase of about 100 million inhabitants in the EU population, and has especially brought along major challenges and important opportunities both for the "new" countries and for the "old" member states. That is the main focus of this volume, which is divided into three sections. The first analyses the effects of the enlargement on the functioning of Community institutions, on the relations with the other Eastern European countries, and finally on regional and global economic dynamics; the second section analyses in detail the role of the monetary politics of the European Central Bank and the activities of the European Bank for Reconstruction and Development; and the third deals with the importance of the entrepreneurial class in ensuring the success of the transition process of the Eastern European economies.
Author:
Publisher:
ISBN:
Category : Europe, Central
Languages : en
Pages : 12
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Book Description
Author: Ruta Aidis
Publisher: Edward Elgar Publishing
ISBN: 1848441215
Category : Business & Economics
Languages : en
Pages : 191
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Book Description
I enjoyed reading this book, which draws together a selection of case studies in entrepreneurship and innovation from eight new EU member countries that are still in the process of turbulent social and economic change. . . Each case is fascinating reading and in many of the studies the vibrant nature of the entrepreneurial change-driver shines through. . . the book is aimed at academics and researchers of entrepreneurship as well as undergraduate and postgraduate students of international business and entrepreneurship , as well as practitioners carrying out business in the transition economies. I would agree with that, the case studies do bring out the exciting and challenging nature of what has been, and can be achieved. . . there is much sound material here to stimulate both insight, and detailed classroom discussions. I would certainly recommend the book for a library purchase. . . it may well be a very useful purchase for researchers and students of the selected case countries. Lorraine Warren, International Journal of Entrepreneurial Behaviour and Research This volume offers insights into ways entrepreneurs innovate and adapt to political-economic structural changes. Detailed case studies illustrate how the adoption of new technology, creation of hybrid social and economic mission ventures and strategic re-orientation led to success in these transition economies. The stories of how these teams pooled resources, persevered and devised new approaches to innovation by creating something new or internationalizing gives us a sense of the new entrepreneurial approaches needed to succeed in this region. Given there were few role models and road maps, these entrepreneurs had to learn by doing. Their stories are inspirational and provide valuable lessons for entrepreneurial success in the wake of turbulent political-economic restructuring. Candida G. Brush, Babson College, US This original selection of case studies from eight new EU member countries looks at the ability of entrepreneurs to develop innovative and successful firms in an environment of turbulent social and economic change. The Cutting Edge focuses on the innovative potential that these transition country environments provide and how entrepreneurs have been able to convert these possibilities into successful businesses. The contributors highlight specific aspects of the interplay between the institutional setting and the environment. They also elucidate the individual characteristics of the entrepreneur that create an enabling context for innovative behaviour to develop and grow, drawing attention to the opportunities and constraints offered in each environment. This book provides invaluable insights for academics and researchers of entrepreneurship as well as undergraduate and postgraduate students of international business and entrepreneurship. It will also provide a stimulating and important read for people conducting business in Europe.
