IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Financial structure and Southern Italy firms’ growth

  • Domenico Sarno

This paper shows that the growth of firms in the Southern Italian (Mezzogiorno) regions is financed mostly by internal sources, since external financing is more problematic and costly. Hence firm growth is subject to financial constraints. The “financial growth cycle” these are used to analyse the features of the capital structure of the Mezzogiorno’s SMEs compared to Italy-wide SMEs. Then, within the framework proposed by financial constraints literature, the capital structure related to the growth is analysed. In order to estimate the growth-cash flow relationship the empirical Gibrat growth model enriched with the cash flow variable is used.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.francoangeli.it/riviste/Scheda_Riviste.asp?IDArticolo=31103&Tipo=ArticoloPDF
Download Restriction: no

Article provided by Associazione Rossi Doria in its journal QA.

Volume (Year): (2007)
Issue (Month): 2 (May)
Pages:

as
in new window

Handle: RePEc:rar:journl:0054
Contact details of provider: Postal: Via Silvio d'Amico 77, - 00145 Rome Italy
Phone: +39 06 57114743
Fax: +39 06 57114774
Web page: http://host.uniroma3.it/associazioni/rossidoria/qa.asp
Email:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Audretsch, David B. & Elston, Julie Ann, 2000. "Does firm size matter? Evidence on the impact of liquidity constraint on firm investment behavior in Germany," HWWA Discussion Papers 113, Hamburg Institute of International Economics (HWWA).
  2. Bagella, M. & Becchetti, L. & Caggese, A., 2001. "Financial constraints on investments: A three-pillar approach," Research in Economics, Elsevier, vol. 55(2), pages 219-254, June.
  3. Becchetti, Leonardo & Trovato, Giovanni, 2002. " The Determinants of Growth for Small and Medium Sized Firms: The Role of the Availability of External Finance," Small Business Economics, Springer, vol. 19(4), pages 291-306, December.
  4. Audretsch, David B & Elston, Julie A, 1997. " Financing the German Mittelstand," Small Business Economics, Springer, vol. 9(2), pages 97-110, April.
  5. Cressy, Robert & Olofsson, Christer, 1997. " European SME Financing: An Overview," Small Business Economics, Springer, vol. 9(2), pages 87-96, April.
  6. Domenico Sarno, 2005. "Liquidity Constraint on the Production of Firms in Southern Italy," Small Business Economics, Springer, vol. 25(2), pages 133-146, 09.
  7. Angelini, P. & Di Salvo, R. & Ferri, G., 1998. "Availability and cost of credit for small businesses: Customer relationships and credit cooperatives," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 925-954, August.
  8. Audretsch, David B & Elston, Julie Ann, 1994. "Does Firm Size Matter? Evidence on the Impacts of Liquidity Constraints on Firm Investment Behaviour in Germany," CEPR Discussion Papers 1072, C.E.P.R. Discussion Papers.
  9. Saltari, Enrico & Travaglini, Giuseppe, 2001. "Financial Constraints and Investment Decisions," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(3), pages 330-44, August.
  10. Calcagnini, Giorgio & Iacobucci, Donato, 1997. " Small Firm Investment and Financing Decisions: An Option Value Approach," Small Business Economics, Springer, vol. 9(6), pages 491-502, December.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:rar:journl:0054. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.