Financing of the EU SMEs by the Capital Markets: An Overview

Angela Roman and Valentina Rusu

Ovidius University Annals, Economic Sciences Series, 2015, vol. XV, issue 2, 546-551

Abstract: Improving access to finance for SMEs by promoting the development of alternative non-banking financing channels represents in the current context a highly debated topic by European and national authorities, and academics. This paper discusses the possibility of EU28 SMEs financing through the capital markets, highlighting the difficulties faced by SMEs when seeking to obtain finance in these markets, but also the funding opportunities based on the market that have emerged in recent years. Furthermore, our study highlights the main recent EU initiatives used to develop alternative sources for SMEs financing, which are intended to complement bank lending. By its content, our paper emphasizes the need to promote and develop of market-based financing instruments in order to reduce excessive dependence of SMEs by banks, but also to strengthen the resilience of real economy to shocks and banking crises

Keywords: SMEs financing; bank lending; alternative financing; capital markets (search for similar items in EconPapers)
JEL-codes: G21 G23 O16 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xv:y:2015:i:2:p:546-551

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