Financing obstacles among euro area firms: Who suffers the most?

Annalisa Ferrando and Nicolas Griesshaber

No 1293, Working Paper Series from European Central Bank

Abstract: In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age, economic branch, financial autonomy and ownership are valid predictors of financing obstacles also during the recent financial crisis. Our results show that only age and ownership are robust explanatory variables for firms’ perceived financing obstacles while mixed results are found for size and economic branches. JEL Classification: E22, G30, G10, O16, K40

Keywords: financial crisis; financing constraints; Small and Medium-Sized Enterprises; survey data (search for similar items in EconPapers)
Date: 2011-02
New Economics Papers: this item is included in nep-cba, nep-cis, nep-eec, nep-ent, nep-law and nep-sbm
Note: 235236
References: View complete reference list from CitEc
Citations: View citations in EconPapers (51)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20111293

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