Konferenzbeitrag
Financing SMEs in Europe
Small and medium-sized enterprises are a centrepiece of Europe?s economy. Due to their limited size and their generally lower creditworthiness, their access to financial market instruments is more limited than for large enterprises, which benefit from more elaborate Treasury operations, economies of scale also in their financing operations and, in particular, from access to securitized lending and stock markets. These limitations for SMEs may seriously limit their expansion potential and, in particular when it comes to lack of risk capital, their innovation and R&D activity. Against this background, a conference on "Financing SMEs in Europe" was jointly organised by SUERF and the Banque de France on 11 and 12 September 2008 in Paris. The conference addressed three issues: First, major theories of SMEs? financing behaviour were presented and evaluated. Second, the nexus between financing constraints and the growth and profitability of SMEs was investigated empirically on the basis of cross-country and a number of individual country case studies. Third, the special role of bank credit for SMEs, the consequences of Basel II on credit risk analysis and SMEs? possible strategic replies were discussed. This article aims to provide an overview of major lines of argument and insights derived from the conference, and draws some conclusions for the current financial crisis and economic downturn and for the longer-term.
- Sprache
-
Englisch
- ISBN
-
978-3-902109-48-4
- Erschienen in
-
Series: SUERF Studies ; No. 2009/3
- Klassifikation
-
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Economywide Country Studies: Europe
- Thema
-
Banks Rating Models
SME Financing
Ex-ante Risk Classification
Basel Capital Accord (Basel II)
Capital Requirements Directive (CRD)
capital structure
business start-ups
innovation
young innovative companies
Unternehmensfinanzierung
KMU
Kreditgeschäft
Basler Akkord
Finanzkrise
Europa
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ayadi, Rym
Bernet, Beat
Westerfeld, Simone
Franck, Tom
Huyghebaert, Nancy
Gaspar, Vitor
Bovha-Padilla, Simona
Veugelers, Reinhilde
- Ereignis
-
Veröffentlichung
- (wer)
-
SUERF - The European Money and Finance Forum
- (wo)
-
Vienna
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Konferenzbeitrag
Beteiligte
- Ayadi, Rym
- Bernet, Beat
- Westerfeld, Simone
- Franck, Tom
- Huyghebaert, Nancy
- Gaspar, Vitor
- Bovha-Padilla, Simona
- Veugelers, Reinhilde
- SUERF - The European Money and Finance Forum
Entstanden
- 2009