Capital Market-Oriented Financing Prospects for Austrian SMEs

Michael Halling and Josef Zechner
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Michael Halling: University of Vienna
Authors registered in the RePEc Author Service: Alex Stomper

Financial Stability Report, 2005, issue 10, 83-94

Abstract: The performance and growth of the Austrian economy largely depend on small and medium-sized enterprises (SMEs). Despite their diminutive size, SMEs offer attractive investment opportunities that are, however, financed primarily by debt for a variety of reasons. The financing concept presented in this study adopts an innovative approach to provide access to quasi-equity forms of financing to Austrian SMEs, which have successfully and responsibly generated business in recent years and which currently enjoy attractive growth potential. At the same time, it aims to strengthen the Austrian capital market by increasing the investment opportunities of the broad mass of both private and institutional investors.

Keywords: Financing; Policy (search for similar items in EconPapers)
JEL-codes: G32 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (2)

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