The Impact of the European Union's ERDF Grants on Loans to Small and Medium-sized Enterprises in the Czech Republic PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Impact of the European Union's ERDF Grants on Loans to Small and Medium-sized Enterprises in the Czech Republic PDF full book. Access full book title The Impact of the European Union's ERDF Grants on Loans to Small and Medium-sized Enterprises in the Czech Republic by Jolana Mungengová. Download full books in PDF and EPUB format.
Author: Jolana Mungengová
Publisher:
ISBN:
Category :
Languages : en
Pages : 266
Get Book Here
Book Description
Abstract: Accession to the European Union (EU) provided the Czech Republic with financial support from the European Regional Development Fund (ERDF). This program awards grants to small and medium-sized enterprises (SMEs) for development projects located in underperforming regions, defined as those with a GDP lower than 75% of the EU average. Czech applicant SMEs only receive ERDF funding after implementing their projects as agreed to in these grants. Thus, applicants must finance a given project with bank loans, unless the SMEs are able to cover their costs with their own resources. After the project, or a substantial phase of it, is completed, the eligible costs are reimbursed by the ERDF grant. My hypothesis is that bank lending to SMEs when an ERDF grant is involved as collateral will boost the monetary value of loans awarded to the SME sector and outweigh lending to SMEs that do not have ERDF grants. To test this hypothesis, I identified the beneficiaries of grants and the regions where the awarded SME projects were located. A case study was also conducted of the Komercni Bank (in Czech Komercni bank), the leading lender to SMEs in the Czech Republic, to assess whether the additional collateral provided by the ERDF grant contributed to a greater willingness to lend to SMEs. The theoretical framework of this analysis draws on financial risk management and asymmetric information theories. The ERDF program should have increased the willingness of banks to lend to SMEs because of the requirement that they provide greater information on their creditworthiness when applying for a bank loan and because of the loan guarantee of the ERDF grant. However, when I compared the monetary value and number of loans granted by the Komercni bank to SMEs with, and without, an ERDF grant, I found no difference. I conclude by addressing the factors that might explain this lack of a relationship and making suggestions for improvements in the application process and use of ERDF grants.
Author: Jolana Mungengová
Publisher:
ISBN:
Category :
Languages : en
Pages : 266
Get Book Here
Book Description
Abstract: Accession to the European Union (EU) provided the Czech Republic with financial support from the European Regional Development Fund (ERDF). This program awards grants to small and medium-sized enterprises (SMEs) for development projects located in underperforming regions, defined as those with a GDP lower than 75% of the EU average. Czech applicant SMEs only receive ERDF funding after implementing their projects as agreed to in these grants. Thus, applicants must finance a given project with bank loans, unless the SMEs are able to cover their costs with their own resources. After the project, or a substantial phase of it, is completed, the eligible costs are reimbursed by the ERDF grant. My hypothesis is that bank lending to SMEs when an ERDF grant is involved as collateral will boost the monetary value of loans awarded to the SME sector and outweigh lending to SMEs that do not have ERDF grants. To test this hypothesis, I identified the beneficiaries of grants and the regions where the awarded SME projects were located. A case study was also conducted of the Komercni Bank (in Czech Komercni bank), the leading lender to SMEs in the Czech Republic, to assess whether the additional collateral provided by the ERDF grant contributed to a greater willingness to lend to SMEs. The theoretical framework of this analysis draws on financial risk management and asymmetric information theories. The ERDF program should have increased the willingness of banks to lend to SMEs because of the requirement that they provide greater information on their creditworthiness when applying for a bank loan and because of the loan guarantee of the ERDF grant. However, when I compared the monetary value and number of loans granted by the Komercni bank to SMEs with, and without, an ERDF grant, I found no difference. I conclude by addressing the factors that might explain this lack of a relationship and making suggestions for improvements in the application process and use of ERDF grants.
Author:
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 160
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 562
Get Book Here
Book Description
Author: Lisa Maria Ortiz
Publisher:
ISBN:
Category :
Languages : en
Pages : 196
Get Book Here
Book Description
Author: Arjola Rama
Publisher:
ISBN:
Category :
Languages : en
Pages : 91
Get Book Here
Book Description
The fast technological and industrial changes of the last decade have led us to many inventions but in the same time it has led us to face an uncertain future. With many threats concerning the environment, economic crises, overpopulation, unemployment, the efforts of the governments have proven to be insufficient to overcome these destructive trends. The optimism for a better future lies on motivated individuals who are eager to make changes on the way we think, leave and behave. Social entrepreneurs are those people who have the talent, skill and vision to solve the problems we are all facing. Social entrepreneurs are those people that are not looking at the governments for immediate solution but they see the change in themselves. They see the success not in the financial balance sheets but in improving people's quality life. Certainly, the social economy is a sector which makes a substantial contribution to employment creation, sustainable growth and better wealth distribution. This system makes possible the combination of profitability with social inclusion and democratic system of governance. The aim of this paper is to give an overview to the methods that European Union is using to support Social Economy and Social Enterprises in the Czech Republic. The objective for this thesis will be to prove that Social Economy development would be beneficial for addressing social inclusion issues of disadvantageous groups by combining social and business approach. As the concept of Social economy is ambiguous and takes different interpretation this paper will focus on the Czech definition of Social Economy.
Author:
Publisher:
ISBN:
Category : Business incubators
Languages : en
Pages : 52
Get Book Here
Book Description
"In recent years, the EU has co-financed business incubator projects in the context of its cohesion policy with the support of the European Regional Development Fund. This is in line with the EU's political priorities, especially in view of the Lisbon and Europe 2020 strategies of supporting the launch and development of small and medium-sized enterprises (SMEs), as they play an important role in the creation of growth and jobs. In this report, the European Court of Auditors assesses whether these business incubator projects were successful in supporting start-up SMEs."-- Page [4] of cover.
Author: European Commission
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 212
Get Book Here
Book Description
Author: European Commission
Publisher:
ISBN: 9789282814161
Category : Business & Economics
Languages : en
Pages : 218
Get Book Here
Book Description
Author: European Commission
Publisher:
ISBN:
Category : Economic assistance, European
Languages : en
Pages : 26
Get Book Here
Book Description
In response to the evolution of the world economy and its impact on Europe, the European Commission proposed a set of programmes to boost jobs, growth and investment across the European Union. The programmes are part of the multiannual financial framework 2014-2020. This publication guides you through these programmes and the funding opportunities they offer are briefly described here in this booklet. Detailed information is available on the European Commission's website. EU funding opportunities prove the added value of the EU budget in a number of fields, from research, employment, regional development and cooperation to education, culture, environment, humanitarian aid and energy, among many others. Significant support is available to small and medium-sized businesses, non-governmental and civil society non-profit organisations, young people, researchers, farmers and public bodies, to name a few.
Author:
Publisher:
ISBN: 9788090499058
Category :
Languages : en
Pages :
Get Book Here
Book Description
