Počet záznamů: 1
Cash flow vs. collateral-based credit: performance of micro, small and medium-sized firms in transition economies
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SYSNO ASEP 0391848 Druh ASEP J - Článek v odborném periodiku Zařazení RIV J - Článek v odborném periodiku Poddruh J Článek ve WOS Název Cash flow vs. collateral-based credit: performance of micro, small and medium-sized firms in transition economies Tvůrce(i) Cassano, F. (GB)
Joeveer, K. (EE)
Švejnar, Jan (NHU-C) RIDZdroj.dok. Economics of Transition - ISSN 0967-0750
Roč. 21, č. 2 (2013), s. 269-300Poč.str. 32 s. Forma vydání Tištěná - P Jazyk dok. eng - angličtina Země vyd. GB - Velká Británie Klíč. slova micro, small and medium-sized enterprises ; bank credit ; firm performance Vědní obor RIV AH - Ekonomie CEP GAP402/10/2130 GA ČR - Grantová agentura ČR Institucionální podpora NHU-C - PRVOUK-P23 UT WOS 000316320000003 DOI 10.1111/ecot.12016 Anotace We study factors affecting micro, small and medium-sized enterprises (MSMEs) receiving loans and the effect of these loans on MSMEs performance. We study two types of loans a new type based on cash flows and a traditional-style loan based on collateral. We use unique surveys of MSMEs from Bulgaria, Georgia, Russia and Ukraine. We find that MSMEs receiving a cash flow or collateral loan in the past are more likely to receive the same type of loan (and larger sized) in the future and that cash flow loans may be the preferred form of credit. Both types of loans are related positively to most performance indicators, enabling the MSMEs for instance to be more profitable and expand production. The cash flow loans also appear to be particularly attractive credit delivery schemes for micro and small enterprises. Finally, the effects of the smallest loans are often negative, suggesting that the minimum loan size is an important policy issue. Pracoviště Národohospodářský ústav - CERGE Kontakt Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Rok sběru 2014
Počet záznamů: 1