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Financial Constraints on New Firms: Looking for Regional Disparities

Jean Bonnet (), Sylvie Cieply and Marcus Dejardin ()
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Sylvie Cieply: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique

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Abstract: Financial constraints affecting new firms are some of the factors most cited forimpeding entrepreneurial dynamics from flourishing. This article introduces the problem ofregional patterns of financial constraints. The research is conducted with regard to the Frenchregions and the new French firms being tracked at the firm level. It refers to entrepreneurialprojects that are concretized in new firms. General entrepreneurial intentions in the Frenchpopulation that are aborted due to financial constraints are not reported. The point is ofimportance as the firm financing conditions are considered. First, an assessment of theregional banking activity leads to the conclusion of a relatively homogeneous situation, theactivity in the core-region Île-de-France appearing however more contrasted. Second, thefinancial constraints affecting new firms are distinguished according to a four-case typologyof credit rationing. It appears, inter alia, that a majority of firms is not facing credit rationing,but also that a non-negligible share is “self-constrained”. The classification is, third andfinally, differentiated according to the regions. Despite the relatively homogeneous bankingsupply, some differences may still be at work. The explanations are hypothetical at this stage butevidence suggests that the regional dimension should definitely deserve further attention.

Keywords: Regional Disparities; Financial constraints; Credit rationing; New Firms; Regional Disparities. (search for similar items in EconPapers)
Date: 2005
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00010304
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Published in Cahiers Economiques de Bruxelles, Université libre. Département d'économie appliquée, 2005, pp.24 PAGES

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Working Paper: Financial Constraints on New Firms: Looking for Regional Disparities (2006)
Working Paper: Financial Constraints on New Firms:Looking for Regional Disparities (2006) Downloads
Working Paper: Financial constraints on new firms: looking for regional disparities (2006) Downloads
Journal Article: Financial constraints on new firms: looking for regional disparities (2005) Downloads
Working Paper: Financial Constraints on New Firms: Looking for Regional Disparities (2005) Downloads
Working Paper: Financial Constraints on New Firms: Looking for Regional Disparities (2005)
Working Paper: Financial constraints on new firms: looking for regional disparities (2004)
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