Artikel
Are finance constraints hindering the growth of SMEs in Europe?
This paper examines whether small and medium-sized enterprises (SMEs) in Europe suffer from a structural financing problem that hinders their growth. To this end, we estimate growth-cashflow sensitivities for firms in different size classes. Our results show that the sensitivity of company growth to cashflow rises as company size falls, which suggests that SMEs indeed encountered finance constraints that prevented them from fully exploiting their growth potential during the sample period 1996-2000. However, within each size class, quoted firms - even when small - tend to suffer less from finance constraints than unquoted firms.
- Language
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Englisch
- Bibliographic citation
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Journal: EIB Papers ; ISSN: 0257-7755 ; Volume: 8 ; Year: 2003 ; Issue: 2 ; Pages: 23-50 ; Luxembourg: European Investment Bank (EIB)
- Classification
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Wirtschaft
- Subject
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Klein- und Mittelunternehmen
Unternehmensfinanzierung
Unternehmenswachstum
EU-Staaten
- Event
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Geistige Schöpfung
- (who)
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Wagenvoort, Rien
- Event
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Veröffentlichung
- (who)
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European Investment Bank (EIB)
- (where)
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Luxembourg
- (when)
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2003
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Wagenvoort, Rien
- European Investment Bank (EIB)
Time of origin
- 2003
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