Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/153727
Authors: 
Ferrando, Annalisa
Griesshaber, Nicolas
Year of Publication: 
2011
Series/Report no.: 
ECB Working Paper 1293
Abstract: 
In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age, economic branch, financial autonomy and ownership are valid predictors of financing obstacles also during the recent financial crisis. Our results show that only age and ownership are robust explanatory variables for firms’ perceived financing obstacles while mixed results are found for size and economic branches.
Subjects: 
financial crisis
Financing Constraints
Small and Medium-Sized Enterprises
survey data
JEL: 
E22
G30
G10
O16
K40
Document Type: 
Working Paper

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