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How do intermediate-sized enterprises finance themselves?
[Comment les ETI se financent-elles ?]

Author

Listed:
  • Adrien Boileau
  • Benjamin Bureau

Abstract

The financing structure of intermediate-sized enterprises (ISEs) has evolved in recent years. The share of bank credit has decreased, while the shares of bond and equity financing have increased. In addition, ISEs have relatively few difficulties in financing themselves. In particular, we note that: (i) their requests for bank loans have mostly been satisfied; (ii) they have taken full advantage of the decline in interest rates; (iii) they have access to various market financing instruments and (iv) overall, their repayment capacity appears to be under control.

Suggested Citation

  • Adrien Boileau & Benjamin Bureau, 2018. "How do intermediate-sized enterprises finance themselves? [Comment les ETI se financent-elles ?]," Bulletin de la Banque de France, Banque de France, issue 220.
    • Handle: RePEc:bfr:bullbf:2018:220:01
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    More about this item

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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