Investment and Finance in De Novo Private Firms: Empirical Results form the Czech Republic, Hungary and Poland

A. Bratkowski, Irena Grosfeld and J. Rostowski

DELTA Working Papers from DELTA (Ecole normale supérieure)

Abstract: In this paper we use a survey of 281 Czech, Hungarian and Polish newly established small private firms in order to shed some light on the constraints these firms face in the credit market. We show that financial intermediation works reasonably well: it is difficult to find signs of credit rationing and banks seems to be able to discriminate between good and bad firms. They protect themselves against the risk of a deteriorating pool of borrowers by requiring a collateral for their loans.

Keywords: CREDIT; BUSINESS FINANCING; EUROPE (search for similar items in EconPapers)
JEL-codes: G32 O52 (search for similar items in EconPapers)
Pages: 20 pages
Date: 1998
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Published in Economics of Transition, 2000, 8 (1)

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Journal Article: Investment and Finance in de novo private firms: Empirical Results from the Czech Republic, Hungary and Poland (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:del:abcdef:98-19

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