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Assessing the financial and financing conditions of firms in Europe: the financial module in CompNet

Author

Listed:
  • Ferrando, Annalisa
  • Altomonte, Carlo
  • Blank, Sven
  • Meinen, Philipp
  • Iudice, Matteo
  • Felt, Marie-Hélène
  • Neugebauer, Katja
  • Siedschlag, Iulia

Abstract

This paper provides an encompassing description of the various indicators compiled in the financial module of CompNet using balance sheet information of European firms. We investigate whether and to which extent the heterogeneous financial positions of firms have affected firms JEL Classification: D22, D24, D92, G32

Suggested Citation

  • Ferrando, Annalisa & Altomonte, Carlo & Blank, Sven & Meinen, Philipp & Iudice, Matteo & Felt, Marie-Hélène & Neugebauer, Katja & Siedschlag, Iulia, 2015. "Assessing the financial and financing conditions of firms in Europe: the financial module in CompNet," Working Paper Series 1836, European Central Bank.
  • Handle: RePEc:ecb:ecbwps:20151836
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    File URL: https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp1836.en.pdf
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    References listed on IDEAS

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    1. Andrew B. Bernard & J. Bradford Jensen & Stephen J. Redding & Peter K. Schott, 2007. "Firms in International Trade," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 105-130, Summer.
    2. Chirinko, Robert S, 1993. "Business Fixed Investment Spending: Modeling Strategies, Empirical Results, and Policy Implications," Journal of Economic Literature, American Economic Association, vol. 31(4), pages 1875-1911, December.
    3. Nick Bloom & Stephen Bond & John Van Reenen, 2007. "Uncertainty and Investment Dynamics," Review of Economic Studies, Oxford University Press, vol. 74(2), pages 391-415.
    4. Casey, Eddie & O'Toole, Conor M., 2014. "Bank lending constraints, trade credit and alternative financing during the financial crisis: Evidence from European SMEs," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 173-193.
    5. Robert E. Carpenter & Bruce C. Petersen, 2002. "Is The Growth Of Small Firms Constrained By Internal Finance?," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 298-309, May.
    6. Robert S. Chirinko, 1992. "Business Fixed Investment Spending: A Critical survey of Modeling Strategies, Empirical Results, and Policy Implications," Working Papers 9213, Harris School of Public Policy Studies, University of Chicago.
    7. Clarke, George R.G. & Cull, Robert & Kisunko, Gregory, 2012. "External finance and firm survival in the aftermath of the crisis: Evidence from Eastern Europe and Central Asia," Journal of Comparative Economics, Elsevier, vol. 40(3), pages 372-392.
    8. Dhyne, Emmanuel & Demian, Calin-Vlad & Harasztosi, Péter & Meriküll, Jaanika & Lalinsky, Tibor & Cazacu, Ana-Maria & Bugamelli, Matteo & Soares, Ana Cristina & Berthou, Antoine & Oropallo, Filippo, 2015. "Assessing European firms' exports and productivity distributions: the CompNet trade module," Working Paper Series 1788, European Central Bank.
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    Citations

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    Cited by:

    1. Cristina Fernández & Roberta García & Paloma Lopez-Garcia & Benedicta Marzinotto & Roberta Serafini & Juuso Vanhala & Ladislav Wintr, 2017. "Firm growth in Europe: An overview based on the COMPNET labour module," BCL working papers 107, Central Bank of Luxembourg.
    2. Gamberoni, Elisa & Giordano, Claire & Lopez-Garcia, Paloma, 2016. "Capital and labour (mis)allocation in the euro area: some stylized facts and determinants," Working Paper Series 1981, European Central Bank.
    3. Bongini, Paola & Ferrando, Annalisa & Rossi, Emanuele & Rossolini, Monica, 2017. "Suitable or non-suitable? An investigation of Eurozone SME access to market-based finance," CEPR Discussion Papers 12006, C.E.P.R. Discussion Papers.
    4. Tondl, Gabriele, 2016. "Interest rates, corporate lending and growth in the Euro Area," Department of Economics Working Paper Series 5085, WU Vienna University of Economics and Business.
    5. João Amador & Arne J. Nagengast, 2015. "The Effect of Bank Shocks on Firm-Level and Aggregate Investment," Working Papers w201515, Banco de Portugal, Economics and Research Department.
    6. Dhyne, Emmanuel & Demian, Calin-Vlad & Harasztosi, Péter & Meriküll, Jaanika & Lalinsky, Tibor & Cazacu, Ana-Maria & Bugamelli, Matteo & Soares, Ana Cristina & Berthou, Antoine & Oropallo, Filippo, 2015. "Assessing European firms' exports and productivity distributions: the CompNet trade module," Working Paper Series 1788, European Central Bank.
    7. Gabriele Tondl, 2016. "Interest rates, corporate lending and growth in the Euro Area," Department of Economics Working Papers wuwp227, Vienna University of Economics and Business, Department of Economics.
    8. Heather D Gibson & Georgia Pavlou, 2017. "Exporting and performance: evidence from Greek firms," Working Papers 228, Bank of Greece.
    9. Jan Babecky & Kamil Galuscak & Diana Zigraiova, 2017. "Wage Dynamics and Financial Performance: Evidence from Czech Firms," Working Papers 2017/14, Czech National Bank, Research Department.

    More about this item

    Keywords

    firm financing conditions and constraints; firm heterogeneity; productivity;

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • 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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