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Aleksandr Kljucnikov () and Jaroslav Belas ()
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Aleksandr Kljucnikov: Paneuropean University in Bratislava
Jaroslav Belas: Tomas Bata University in Zlin

Equilibrium. Quarterly Journal of Economics and Economic Policy, 2016, vol. 11, issue 2, 343-365

Abstract: The aim of this article was to define, quantify and compare significant factors of the debt financing in the segment of SMEs. The research focused on the significant differences between groups of entrepreneurs, defined in relation to gender, education, size and age of the company, was carried out in the Czech Republic in 2015 on a sample of 1,141 respondents. We found that while the importance of the credit risk increased during the crisis, the level of knowledge of conditions under which commercial banks provide loans is relatively low between entrepreneurs. Entrepreneurs presume that the credit conditions in commercial banks are not transparent, but agree that the better knowledge of credit criteria allows for easier access to funding. Substantial differences in the assessment of the factors of credit risk by defined groups of entrepreneurs were identified.

Keywords: small and medium enterprises; credit risk; debt financing; gender of entrepreneurs; education of entrepreneurs; company's age and size; Czech Republic (search for similar items in EconPapers)
JEL-codes: L26 O16 G32 (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:pes:ierequ:v:11:y:2016:i:2:p:343-365