Tackling Small And Medium Enterprise Problem Loans In Europe

Author : Mr.Wolfgang Bergthaler,Mr.Kenneth Kang,Ms.Yan Liu,Mr.Dermot Monaghan
Publisher : International Monetary Fund
Page : 36 pages
File Size : 45,8 Mb
Release : 2015-03-30
Category : Business & Economics
ISBN : 9781498384834

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Tackling Small and Medium Enterprise Problem Loans in Europe by Mr.Wolfgang Bergthaler,Mr.Kenneth Kang,Ms.Yan Liu,Mr.Dermot Monaghan Pdf

The global financial crisis has left a large private sector debt overhang and high levels of non- performing loans (NPLs) in several European countries. Small and medium-size enterprises (SMEs) represent a significant and weak segment of the nonfinancial corporate sector. SMEs face a number of legal, financial, and regulatory challenges to restructuring that differ from those of larger corporates, such as a rigid and costly insolvency regime, a higher fixed cost to loan restructuring, and the lack of alternative sources of financing. Given SMEs’ large presence and close links to the banking system, addressing the SME loan problem in Europe will be critical for strengthening bank and corporate balance sheets and supporting a more robust and sustained recovery.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 40,7 Mb
Release : 2015
Category : Electronic
ISBN : 1475552262

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Tackling Small and Medium Enterprise Problem Loans in Europe by Anonim Pdf

Author : Mr.Federico J Diez,Mr.Romain A Duval,Jiayue Fan,José Garrido,Sebnem Kalemli-Ozcan,Chiara Maggi,Ms.Maria Soledad Martinez Peria,Mr.Nicola Pierri
Publisher : International Monetary Fund
Page : 29 pages
File Size : 47,5 Mb
Release : 2021-04-02
Category : Business & Economics
ISBN : 9781513574561

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Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies by Mr.Federico J Diez,Mr.Romain A Duval,Jiayue Fan,José Garrido,Sebnem Kalemli-Ozcan,Chiara Maggi,Ms.Maria Soledad Martinez Peria,Mr.Nicola Pierri Pdf

The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.

Author : Eva Kaili,Dimitrios Psarrakis,Raz van Hoinaru
Publisher : Springer
Page : 204 pages
File Size : 43,6 Mb
Release : 2019-02-28
Category : Business & Economics
ISBN : 9783030028312

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New Models of Financing and Financial Reporting for European SMEs by Eva Kaili,Dimitrios Psarrakis,Raz van Hoinaru Pdf

This book looks at the 23 million registered Small and Medium Enterprises (SMEs) that make up 98 per cent of the EU economy. Addressing the high end of SMEs in terms of new models for SME funding and financial reporting, this merged way of looking at SMEs reveals a ‘myopic’ thinking in terms of net present value and (future) cash flows generating short-termism and low risk appetite for business. This is not an accounting issue, but rather a preference toward certain financial tools. A segment of SMEs, the ones that seek new ways of funding possibilities, as well as modern technologies (MTFs listing, blockchain, ICOs, etc.) do require, even without knowing, IFRS for SMEs. This book reveals how market conditions impact the financial performance and sustainability of SMEs and also generate innovative policy interventions and financing strategies for SME integrity and efficiency. The authors frame their arguments in the context of the Capital Markets Union, looking at the Innovation Triangle, SME growth ecosystem and business models. They conclude by advocating for closing the circle of financing and financial reporting for SMEs, while considering if new financial models of financing and financial reporting are good for all the SMEs or only for some. The economy is being shaped by new models of financing and financial reporting. Read this practitioners’ view to understand the current changes and challenges.

Author : Patrizio Messina
Publisher : Kluwer Law International B.V.
Page : 222 pages
File Size : 49,9 Mb
Release : 2019-06-19
Category : Law
ISBN : 9789403501444

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Finance for SMEs: European Regulation and Capital Markets Union by Patrizio Messina Pdf

With the European Commission’s announcement of the Capital Markets Union in 2016, a major step was at last taken to provide for the special needs of small and medium enterprises (SMEs). This book presents the first in-depth legal analysis of the challenges that SMEs have to face when managing their balance sheets and trying to attract investors, what alternative financing tools are most effective and how recent legislation reaches fair and convenient conditions for SMEs. The analysis focuses specifically on the Capital Markets Union structure and on other European initiatives that support and enhance SMEs’ raising money on capital markets in order to better diversify their investments and plan a growth and development strategy. An updated description of the European framework is provided, together with references to relevant national systems. Issues and topics covered include the following: need for long-lasting access to funds; securitization for SMEs; SME Z-score; crowdfunding; and peer-to-peer, minibond and accounts receivables financing. Case study analyses furnish a deep understanding of the financial structures and their main features. Appendices include English texts of the main European Union (EU) legal documents pertaining to SMEs. For SMEs discouraged by over-regulation designed for larger businesses, and who find themselves in difficulties when they have to face the required process, this book will prove to be of immeasurable practical value. This book represents one of the first publications on SMEs and finance and contains data and information resulting from a deep and well-focused research on the topic. The added value of this study will allow the academics to understand the main issues related to this topic and will provide for a steady basis for further research and analysis with regards to law and economics for SMEs. Furthermore, it will be also warmly welcomed by practitioners in the area of SME financing and will be useful to support them in the selection of the most appropriate tools for their clients. Banks and interested EU officials will also value its clear and straightforward approach to the subject.

Author : OECD
Publisher : OECD Publishing
Page : 136 pages
File Size : 53,6 Mb
Release : 2006-10-25
Category : Electronic
ISBN : 9789264029415

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The SME Financing Gap (Vol. I) Theory and Evidence by OECD Pdf

Analyzes the lack of funding for small and medium-sized enterprises (SMEs) and recommends measures to foster an improved flow of financing.

Author : Leora F. Klapper
Publisher : Unknown
Page : 53 pages
File Size : 54,9 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1290704277

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Small- and Medium-Size Enterprise Financing in Eastern Europe by Leora F. Klapper Pdf

There is currently a large interest in understanding firms' access to finance, particularly in the financing of small- and medium-size enterprises (SMEs). But the financing patterns of SMEs across countries is not well understood. For example, little is known about the relative importance of equity, debt, and inter-firm financing for SMEs across countries.The authors use the Amadeus database, which includes financial information on over 97,000 private and publicly traded firms in 15 Eastern and Central European countries. The Amadeus database allows the authors the opportunity to provide a new analysis of the general financing patterns of private firms across a large sample of Eastern European countries. The summanry statistics show that the size of the SME sector (as measured by the percentage of total employment) in Eastern European countries is smaller than in most developed economies. Although the authors find in almost every country in the sample a large number of SMEs as a percentage of total firms, the SMEs in Eastern Europe are generally small and hire few employees. However, SMEs seem to constitute the most dynamic sector of the Eastern European economies, relative to large firms. In general, the SME sector comprises relatively younger, more highly leveraged, and more profitable and faster growing firms. This suggests that a new type of firm is emerging in transition economies that is more market- and profit-oriented. But at the same time, these firms appear to have financial constraints that impede their access to long-term financing and ability to grow.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to better understand small- and medium-size enterprise financing.

Author : Mr. Shekhar Aiyar,Mr. Dermot Monaghan
Publisher : International Monetary Fund
Page : 79 pages
File Size : 41,8 Mb
Release : 2015-09-24
Category : Business & Economics
ISBN : 9781513511658

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A Strategy for Resolving Europe's Problem Loans by Mr. Shekhar Aiyar,Mr. Dermot Monaghan Pdf

Europe’s banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorities and banks to examine the structural obstacles that discourage banks from addressing their problem loans. A three pillared strategy is advocated to remedy the situation, comprising: (i) tightened supervisory policies, (ii) insolvency reforms, and (iii) the development of distressed debt markets.

Author : Gianluca Oricchio,Andrea Crovetto,Sergio Lugaresi,Stefano Fontana
Publisher : Unknown
Page : 128 pages
File Size : 45,9 Mb
Release : 2017
Category : Economic assistance, European
ISBN : 1137586095

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SME Funding by Gianluca Oricchio,Andrea Crovetto,Sergio Lugaresi,Stefano Fontana Pdf

Author : OECD
Publisher : OECD Publishing
Page : 250 pages
File Size : 40,6 Mb
Release : 2020-04-22
Category : Electronic
ISBN : 9789264598539

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Financing SMEs and Entrepreneurs 2020 An OECD Scoreboard by OECD Pdf

The 9th edition of the Scoreboard on Financing SMEs and Entrepreneurs report provides data from 48 countries around the world on SME lending, alternative finance instruments and financing conditions, as well as information on policy initiatives to improve SME access to finance.

Author : Stefania Rossi
Publisher : Palgrave Macmillan
Page : 0 pages
File Size : 49,8 Mb
Release : 2016-12-15
Category : Business & Economics
ISBN : 3319413627

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Access to Bank Credit and SME Financing by Stefania Rossi Pdf

This book explores how the global financial and European sovereign debt crises have forced small-and-medium-sized businesses (SMEs) to reassess and adapt their funding strategies. At the heart of the matter is the worsening access to bank credit for such enterprises. Through this discussion we learn how crucial an understanding of SME-financing is to policy makers, in light of the fact that SMEs dominate the business landscape in Europe and are the main drivers of employment, growth and innovation in the European economy. Contributing chapters present expert analysis and investigate many topics including the problems faced by SMEs in accessing bank credit and the cost of funding and its determinants. Particular attention is also given to how credit-constrained enterprises may reformulate their funding strategies by employing alternative, non-bank, financial resources, and how regulators could support SMEs in broadening and improving their funding opportunities.

Author : Rym Ayadi
Publisher : Centre for European Policy Studies
Page : 124 pages
File Size : 54,8 Mb
Release : 2005
Category : Bank capital
ISBN : UCSC:32106018614674

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The New Basel Capital Accord and SME Financing by Rym Ayadi Pdf

The First Basel Capital Accord, implemented in 1988, was aimed at ensuring the soundness and stability of the international banking system. The new accord, Basel II, which is planned for implementation in December 2006, is intended to strengthen the framework for dealing with credit risk. This book provides an informative analysis of what Basel II means for the small and medium-sized enterprize (SME) sector in Europe and its impact on its credit financing conditions. It also presents a detailed analysis of how banks formulate an internal rating system and illustrates how this system works in practice. Finally, it concludes with the key measures that should be taken by banks, SMEs, and public policymakers to improve financing in the new rating culture.

Author : Rudolf K.-H. Dennerlein,Commission of the European Communities. SME Task Force
Publisher : Unknown
Page : 84 pages
File Size : 41,9 Mb
Release : 1989
Category : Bank investments
ISBN : UVA:X001754024

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Methods of Promoting the Supply of Risk Capital by Rudolf K.-H. Dennerlein,Commission of the European Communities. SME Task Force Pdf

Author : European Investment Bank
Publisher : European Investment Bank
Page : 81 pages
File Size : 53,8 Mb
Release : 2021-01-07
Category : Business & Economics
ISBN : 9789286148156

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The European Fund for Strategic Investments: The Legacy by European Investment Bank Pdf

The inside story of the European Fund for Strategic Investments from 2015 to 2020 told through interviews with the Managing Director, Deputy Managing Director, members of the Investment Committee and final beneficiaries across Europe. The architects of this €500 billion-plus programme, the head of the EU bank and the president of the European Commission, describe the genesis of this financial pillar of the Investment Plan for Europe. Then the people who ran one of the biggest economic stimulus programmes in history detail how they did it—and what the lessons are for policymakers responding to new crises, including the economic shock caused by the COVID-19 pandemic. The European Fund for Strategic Investments has been one of the good news stories to emerge in a decade of economic uncertainty. It has gone well beyond its highly ambitious target of €500 billion in mobilised investments. The Juncker Plan has made a strong contribution to the 14 million jobs created in the EU between 2015 and 2020. It has become a success in co-financing projects that otherwise might not have been carried through. It has also charted the path towards new ways of financing. This is not only the case in relatively conventional areas, such as infrastructure, but also in sectors like research and innovation or the contribution to climate change mitigation. This is exactly what makes EFSI so ground-breaking: responding to the needs of the market through continuous financial innovation. The principle of the European Fund for Strategic Investments is here to stay. It has paved the way for its successor, the InvestEU programme, which is to be deployed under the 2021-2027 multiannual financial framework. This publication details why the programme was such a success.

Author : Bruno Dallago,Chiara Guglielmetti
Publisher : Routledge
Page : 322 pages
File Size : 45,6 Mb
Release : 2012-12-07
Category : Business & Economics
ISBN : 9781136190506

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The Consequences of the International Crisis for European SMEs by Bruno Dallago,Chiara Guglielmetti Pdf

The book explores how, to what extent and with what consequences the international crisis of 2007-2008 and the recession which followed have affected European SMEs (small and medium enterprises) in both the well established market economies of the old member countries and in the post-transformation new member countries, and what can be done at the institutional and political level to uphold them.