Publication detail

Access to credit of SMES in the Czech republic during the financial crisis and in the post-crisis period

KORÁB, P. POMĚNKOVÁ, J.

Original Title

Access to credit of SMES in the Czech republic during the financial crisis and in the post-crisis period

Type

journal article in Scopus

Language

English

Original Abstract

We investigate the impact of the financial crisis on the access of small and medium-sized enterprises in the Czech Republic to external financing. We apply the non-parametric kernel density estimation on a firm-level measure of financing constraints and evaluate its distribution on a balanced panel of SMEs. We focus on financing constraints related to financial health of companies since they determine the commercial banks' lending behaviour. Our results reveal that firms were more constrained during the crisis and their financing constraints did not largely improve after the end of financial crisis. We argue that enterprises were financially constrained during the crisis because of reduced cash-flow and cash holdings.

Keywords

fi nancing constraints, KZ index, credit crunch, fi nancial accelerator, nonparametric estimation, kernel density

Authors

KORÁB, P.; POMĚNKOVÁ, J.

RIV year

2015

Released

3. 9. 2015

Publisher

Mendelu

Location

Brno

ISBN

1211-8516

Periodical

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

Year of study

63

Number

4

State

Czech Republic

Pages from

1297

Pages to

1302

Pages count

6

URL

https://acta.mendelu.cz/63/4/1297/

Full text in the Digital Library

http://hdl.handle.net/11012/201278

BibTex

@article{BUT115866,
  author="Petr {Koráb} and Jitka {Dluhá}",
  title="Access to credit of SMES in the Czech republic during the financial crisis and in the post-crisis period",
  journal="Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis",
  year="2015",
  volume="63",
  number="4",
  pages="1297--1302",
  doi="10.11118/actaun201563041297",
  issn="1211-8516",
  url="https://acta.mendelu.cz/63/4/1297/"
}