Cash flow vs. collateral-based credit: performance of micro, small and medium-sized firms in transition economies

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F13%3A00423406" target="_blank" >RIV/67985998:_____/13:00423406 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/00216208:11640/13:00391848

Výsledek na webu

<a href="http://dx.doi.org/10.1016/j.jimonfin.2013.01.001" target="_blank" >http://dx.doi.org/10.1016/j.jimonfin.2013.01.001</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.jimonfin.2013.01.001" target="_blank" >10.1016/j.jimonfin.2013.01.001</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Cash flow vs. collateral-based credit: performance of micro, small and medium-sized firms in transition economies

Popis výsledku v původním jazyce

We study factors affecting micro, small and medium-sized enterprises (MSMEs) receiving loans and the effect of these loans on MSMEs performance. We study two types of loans a new type based on cash flows and a traditional-style loan based on collateral.We use unique surveys of MSMEs from Bulgaria, Georgia, Russia and Ukraine. We find that MSMEs receiving a cash flow or collateral loan in the past are more likely to receive the same type of loan (and larger sized) in the future and that cash flow loansmay be the preferred form of credit. Both types of loans are related positively to most performance indicators, enabling the MSMEs for instance to be more profitable and expand production. The cash flow loans also appear to be particularly attractive credit delivery schemes for micro and small enterprises. Finally, the effects of the smallest loans are often negative, suggesting that the minimum loan size is an important policy issue.

Název v anglickém jazyce

Cash flow vs. collateral-based credit: performance of micro, small and medium-sized firms in transition economies

Popis výsledku anglicky

We study factors affecting micro, small and medium-sized enterprises (MSMEs) receiving loans and the effect of these loans on MSMEs performance. We study two types of loans a new type based on cash flows and a traditional-style loan based on collateral.We use unique surveys of MSMEs from Bulgaria, Georgia, Russia and Ukraine. We find that MSMEs receiving a cash flow or collateral loan in the past are more likely to receive the same type of loan (and larger sized) in the future and that cash flow loansmay be the preferred form of credit. Both types of loans are related positively to most performance indicators, enabling the MSMEs for instance to be more profitable and expand production. The cash flow loans also appear to be particularly attractive credit delivery schemes for micro and small enterprises. Finally, the effects of the smallest loans are often negative, suggesting that the minimum loan size is an important policy issue.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GAP402%2F10%2F2130" target="_blank" >GAP402/10/2130: Globalizace a konkurenceschopnost firem a zaměstnanců: komparace vyspělých a rozvíjejících se ekonomik</a><br>

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2013

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Economics of Transition

ISSN

0967-0750

e-ISSN

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Svazek periodika

21

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

32

Strana od-do

269-300

Kód UT WoS článku

000316320000003

EID výsledku v databázi Scopus

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