The Financial Structure of Small and Medium Firms and the Impact on the Cost of Capital

Federico Beltrame, Roberto Cappelletto and Gabriele Toniolo
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Federico Beltrame: University of Udine
Roberto Cappelletto: University of Udine

Chapter 1 in Estimating SMEs Cost of Equity Using a Value at Risk Approach, 2014, pp 6-30 from Palgrave Macmillan

Abstract: Abstract This chapter examines the main critical aspects relevant to financing small and medium-sized enterprises (SMEs). Consolidated scholarship fully identifies the implicit constraints to SME financing. Such academic research is extremely interesting, as it explores links with the theory of market imperfections. More specifically, some scholarship of greater significance highlights the effects of the asymmetrical distribution of information on the conditions of financing SMEs and the conditions that can lead to credit rationing. In the case in point, the research identifies orders of priority in choosing preferred sources of financing.

Keywords: Cash Flow; Capital Market; Venture Capital; Credit Rationing; European Central Bank (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-38930-5_2

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DOI: 10.1057/9781137389305_2

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