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Determinants of the choice leasing vs Bank Loan: evidence from the french sme by Kacm

Author

Listed:
  • Marie Christine Filareto-Deghaye

    (Université du Littoral. Dunkerque, France.)

  • Eric Severin.

    (Centre du LEM. Lille, France.)

Abstract

La cuestión del leasing como sustituto o complemento de un préstamo bancario todavía no se ha resuelto en la literatura financiera. Como continuación de estos argumentos, el objetivo de este artículo es, por una parte, determinar las características de las empresas que usan el leasing y por otra parte, comprender mejor la relación existente entre el leasing y las restricciones al crédito. En primer lugar, nuestros resultados sugieren que las PYMES utilizan más el leasing cuando son de reciente creación, están apalancadas y son menos solventes, aunque sean de menor tamaño y tengan más probabilidades de fracaso. Así pues, el leasing amplía los límites de la deuda bancaria en el caso de las empresas que no tienen acceso al mismo. En segundo lugar, nuestros resultados muestran una relación fuerte y significativa entre las restricciones al crédito y el uso del leasing. En este marco de trabajo, éste parece ser el último recurso financiero.

Suggested Citation

  • Marie Christine Filareto-Deghaye & Eric Severin., 2007. "Determinants of the choice leasing vs Bank Loan: evidence from the french sme by Kacm," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 6, pages 1-11, May.
    • Handle: RePEc:eac:articl:06/06
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    References listed on IDEAS

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    Cited by:

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    2. Rajan Thavaseelan & Sooriyakumar Krishnapillai & Selvarathnam Santhirasegaram, 2021. "Economic Impact of Leasing on Lessees in Jaffna District of Sri Lanka," International Journal of Economics and Financial Issues, Econjournals, vol. 11(1), pages 109-113.
    3. Anna Białek-Jaworska & Aneta Dzik-Walczak & Natalia Nehrebecka, 2015. "Kiedy firmy sięgają po leasing?," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 113-144.
    4. Arbana Sahiti, 2017. "Creative Accounting- Nature, Usage, Labor and Relation with the Own Crisis Consequences in Practice in Kosovo," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 3, January -.
    5. Jaszczuk Joanna & Białek-Jaworska Anna & Opolski Krzysztof & Sylwestrzak Marek & Trzpioła Katarzyna, 2018. "Leasing Puzzle in Polish Small Firms Listed on the Alternative Market," Central European Economic Journal, Sciendo, vol. 5(52), pages 25-39, January.
    6. Anna Białek-Jaworska & Natalia Nehrebecka, 2016. "Determinants of Polish Enterprises' Propensity to Lease," Working Papers 2016-07, Faculty of Economic Sciences, University of Warsaw.
    7. Natalia Nehrebecka & Aneta Dzik-Walczak, 2016. "Publication selection bias in the sources of financing the enterprises research? A Meta-Regression Analysis," Working Papers 2016-02, Faculty of Economic Sciences, University of Warsaw.
    8. Kraemer-Eis, Helmut & Lang, Frank, 2012. "The importance of leasing for SME finance," EIF Working Paper Series 2012/15, European Investment Fund (EIF).

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