Detail publikace

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

KORÁB, P. POMĚNKOVÁ, J.

Originální název

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

Typ

článek v časopise ve Scopus, Jsc

Jazyk

angličtina

Originální abstrakt

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.

Klíčová slova

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

Autoři

KORÁB, P.; POMĚNKOVÁ, J.

Rok RIV

2015

Vydáno

3. 9. 2015

Nakladatel

Mendelu

Místo

Brno

ISSN

1211-8516

Periodikum

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

Ročník

63

Číslo

4

Stát

Česká republika

Strany od

1297

Strany do

1302

Strany počet

6

URL

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

Plný text v Digitální knihovně

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/"
}