Artikel
The Debt Structure of SMEs: An Optimization Model
The existing finance literature is inadequate with respect to its coverage of the debt structure of small and medi-um sized enterprises (SMEs). In addition, the role of trust in accessing finance for such enterprises is under-investigated. This paper presents a mathematical model for optimizing the debt structure of SMEs that, since SMEs are often equity constrained, focuses on optimizing debt structure by minimizing its cost. The model is then extended by incorporating the level of trust that suppliers and bank managers have in the enterprise. The extended model, suggests that the higher the level of trust that bank managers and suppliers have in the SME, the more short-term finance an SME can obtain and should use.
- Sprache
-
Englisch
- Erschienen in
-
Journal: The Journal of Entrepreneurial Finance (JEF) ; ISSN: 1551-9570 ; Volume: 16 ; Year: 2012 ; Issue: 1 ; Pages: 87-108 ; Montrose, CA: The Academy of Entrepreneurial Finance (AEF)
- Klassifikation
-
Management
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
New Firms; Startups
- Thema
-
SMEs
Capital Structure
Trade Credit
Bank Debt
Trust
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Moro, Andrea
Lucas, Mike R.
Grimm, Uwe G.
- Ereignis
-
Veröffentlichung
- (wer)
-
The Academy of Entrepreneurial Finance (AEF)
- (wo)
-
Montrose, CA
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Moro, Andrea
- Lucas, Mike R.
- Grimm, Uwe G.
- The Academy of Entrepreneurial Finance (AEF)
Entstanden
- 2012
Ähnliche Objekte (12)
EIF Private Debt Survey 2021: Private debt for SMEs - Market overview
SMEs growth and profitability, productivity and debt relationships
Credit ratings and liquidity risk for the optimization of debt maturity structure
Board of directors and firm debt in Spanish SMEs: A power perspective
Debt structure and financial intermediation
Debt shifting and ownership structure
Navigation behavior models for link structure optimization
The seniority structure of sovereign debt
Firm debt structure and firm size
The seniority structure of sovereign debt
The seniority structure of sovereign debt
Смѣсь.
EIF Private Debt Survey 2021: Private debt for SMEs - Market overview
SMEs growth and profitability, productivity and debt relationships
Credit ratings and liquidity risk for the optimization of debt maturity structure
Board of directors and firm debt in Spanish SMEs: A power perspective
Debt structure and financial intermediation
Debt shifting and ownership structure
Navigation behavior models for link structure optimization
The seniority structure of sovereign debt
Firm debt structure and firm size
The seniority structure of sovereign debt
The seniority structure of sovereign debt
Смѣсь.
EIF Private Debt Survey 2021: Private debt for SMEs - Market overview
SMEs growth and profitability, productivity and debt relationships
Credit ratings and liquidity risk for the optimization of debt maturity structure
Board of directors and firm debt in Spanish SMEs: A power perspective
Debt structure and financial intermediation
Debt shifting and ownership structure
Navigation behavior models for link structure optimization
The seniority structure of sovereign debt
Firm debt structure and firm size
The seniority structure of sovereign debt
The seniority structure of sovereign debt