Detail publikace

Access to credit of SMES in the Czech republic during the financial crisis and in the post-crisis period

Originální název

Access to credit of SMES in the Czech republic during the financial crisis and in the post-crisis period

Anglický název

Access to credit of SMES in the Czech republic during the financial crisis and in the post-crisis period

Jazyk

en

Originální abstrakt

We investigate the impact of the fi nancial crisis on the access of small and medium-sized enterprises in the Czech Republic to external fi nancing. We apply the non-parametric kernel density estimation on a fi rm-level measure of fi nancing constraints and evaluate its distribution on a balanced panel of SMEs. We focus on fi nancing constraints related to fi nancial health of companies since they determine the commercial banks’ lending behaviour. Our results reveal that fi rms were more constrained during the crisis and their fi nancing constraints did not largely improve a er the end of fi nancial crisis. We argue that enterprises were fi nancially constrained during the crisis because of reduced cash-fl ow and cash holdings.

Anglický abstrakt

We investigate the impact of the fi nancial crisis on the access of small and medium-sized enterprises in the Czech Republic to external fi nancing. We apply the non-parametric kernel density estimation on a fi rm-level measure of fi nancing constraints and evaluate its distribution on a balanced panel of SMEs. We focus on fi nancing constraints related to fi nancial health of companies since they determine the commercial banks’ lending behaviour. Our results reveal that fi rms were more constrained during the crisis and their fi nancing constraints did not largely improve a er the end of fi nancial crisis. We argue that enterprises were fi nancially constrained during the crisis because of reduced cash-fl ow and cash holdings.

BibTex


@article{BUT115866,
  author="Petr {Koráb} and Jitka {Poměnková}",
  title="Access to credit of SMES in the Czech republic during the financial crisis and in the post-crisis period",
  annote="We investigate the impact of the fi nancial crisis on the access of small and medium-sized enterprises
in the Czech Republic to external fi nancing. We apply the non-parametric kernel density estimation
on a fi rm-level measure of fi nancing constraints and evaluate its distribution on a balanced panel of
SMEs. We focus on fi nancing constraints related to fi nancial health of companies since they determine
the commercial banks’ lending behaviour. Our results reveal that fi rms were more constrained during
the crisis and their fi nancing constraints did not largely improve a er the end of fi nancial crisis. We
argue that enterprises were fi nancially constrained during the crisis because of reduced cash-fl ow
and cash holdings.",
  address="Mendelu",
  chapter="115866",
  doi="10.11118/actaun201563041297",
  howpublished="print",
  institution="Mendelu",
  number="4",
  volume="63",
  year="2015",
  month="september",
  pages="1297--1302",
  publisher="Mendelu",
  type="journal article"
}