Romanian SMEs Financing Options: An Empirical Analysis

Ioan E. Nistor and Daniela-Rodica Popescu
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Ioan E. Nistor: Babes-Bolyai University Faculty of Economics and Business Administration
Daniela-Rodica Popescu: Babes-Bolyai University Faculty of Economics and Business Administration

Finante - provocarile viitorului (Finance - Challenges of the Future), 2013, vol. 1, issue 15, 12-21

Abstract: One of the most pressing problems faced by micro, small and medium sized enterprises (henceforth SMEs) in Europe is the access to sufficient funds to sustain their long term growth. Romanian SMEs make no exception. In this context the present paper focuses on analyzing the extent to which external funding sources have contributed to the value added created by the Romanian SMEs between 2007 and 2011.The investigation’s results indicate the existence of a causal link between some forms of external financing (namely bank loans, leasing, factoring, guarantee products and European funds) and the value added created by the Romanian micro, small and medium sized enterprises in the aforementioned period.

Keywords: micro; small; medium sized enterprises; bank loans; leasing; factoring; microcredit; European Funds; created value added (search for similar items in EconPapers)
JEL-codes: G21 G32 L25 O52 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:aio:fpvfcf:v:1:y:2013:i:15:p:12-21

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