Počet záznamů: 1  

Cash flow vs. collateral-based credit: performance of micro, small and medium-sized firms in transition economies

  1. 1.
    SYSNO ASEP0391848
    Druh ASEPJ - Článek v odborném periodiku
    Zařazení RIVJ - Článek v odborném periodiku
    Poddruh JČlánek ve WOS
    NázevCash 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) RID
    Zdroj.dok.Economics of Transition - ISSN 0967-0750
    Roč. 21, č. 2 (2013), s. 269-300
    Poč.str.32 s.
    Forma vydáníTištěná - P
    Jazyk dok.eng - angličtina
    Země vyd.GB - Velká Británie
    Klíč. slovamicro, small and medium-sized enterprises ; bank credit ; firm performance
    Vědní obor RIVAH - Ekonomie
    CEPGAP402/10/2130 GA ČR - Grantová agentura ČR
    Institucionální podporaNHU-C - PRVOUK-P23
    UT WOS000316320000003
    DOI10.1111/ecot.12016
    AnotaceWe 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.
    PracovištěNárodohospodářský ústav - CERGE
    KontaktTomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122
    Rok sběru2014
Počet záznamů: 1  

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