Leasing by small enterprises

Arbeitspapier

Using internal data of a leasing company in Germany, we examine the determinants of the probability and use of leasing by small firms. We find that small and young firms are likely to be constrained on the leasing market but use leasing to increase their debt capacity. Beyond contract- and firm-specific characteristics, demographic and socio-economic characteristics of the entrepreneur matter. Older and higher qualified entrepreneurs have easier access to leasing than those who are younger or non-educated, but the latter lease more than highly educated entrepreneurs. Female and non-married entrepreneurs of young firms use leasing to increase their debt capacity. These results are important for aging populations where the financing of entrepreneurial activities by highly qualified, older and female persons are important to sustain growth.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Thünen-Series of Applied Economic Theory - Working Paper ; No. 122

Classification and Topics

• Classification: Wirtschaft ; Organizational Behavior; Transaction Costs; Property Rights ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Capital Budgeting; Fixed Investment and Inventory Studies; Capacity ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination ; Economics of Gender; Non-labor Discrimination
• Subject: leasing ; financial constraints ; small firm finance ; capital structure ; aging population ; Leasing ; KMU ; Fremdkapital ; Unternehmer ; Kapitalstruktur ; Alternde Bevölkerung ; Deutschland

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Neuberger, Doris ; Räthke-Döppner, Solvig
• Event: Veröffentlichung
• (who): Universität Rostock, Institut für Volkswirtschaftslehre
• (where): Rostock
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/74661
• Last update: 10.03.2025, 11:43 AM CET