Certain Financial Problems the Small and Medium Enterprises Face in the Countries of the European Economic Area (EEA)
In issue three of 2002 of Economic Studies the author defined three assumptions, which in general assert that under the conditions of information asymmetry the small and medium enterprises (SMEs) are affected in a relatively greater degree by the problems of financing. In addition, according to one of the assumptions, there is a negative relationship between the factors “age” and “size” of the enterprises and the problems, while the influence of the “growth” factor can be controversial. In the present paper the author gives proof to his hypotheses concerning the problems of financing of the SMEs in the countries of the EEA. He also analyses the influence of the above- mentioned factors (age, size and growth) on the problems of financing of the starting and high technology businesses, as well as on the smaller exporters.
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Volume (Year): (2005)
Issue (Month): 3 ()
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- Egeln, Jurgen & Licht, Georg & Steil, Fabian, 1997. "Firm Foundations and the Role of Financial Constraints," Small Business Economics, Springer, vol. 9(2), pages 137-50, April.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
- Audretsch, David B & Elston, Julie A, 1997. "Financing the German Mittelstand," Small Business Economics, Springer, vol. 9(2), pages 97-110, April.
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