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The Role of the Regional Financial Sector in the Capital Structure of Small and Medium-Sized Enterprises (SMEs)
Palacín-Sánchez M.-J. and Di Pietro P. The role of the regional financial sector in the capital structure of small and medium-sized enterprises (SMEs), Regional Studies. This article examines the role that the financial sector plays in explaining differences in the capital structure of small and medium-sized enterprises (SMEs) across regions belonging to a single country. Specifically, it studies the effect of the development of the financial sector and of banking market concentration on leverage of firms. This research uses a sample of 8142 SMEs representing every Spanish region for the period 1999–2007, and applies the panel data methodology. The results suggest that the capital structure depends on the regional financial sector, in terms of both its level of development and its degree of competition.
The Role of the Regional Financial Sector in the Capital Structure of Small and Medium-Sized Enterprises (SMEs)
Palacín-Sánchez M.-J. and Di Pietro P. The role of the regional financial sector in the capital structure of small and medium-sized enterprises (SMEs), Regional Studies. This article examines the role that the financial sector plays in explaining differences in the capital structure of small and medium-sized enterprises (SMEs) across regions belonging to a single country. Specifically, it studies the effect of the development of the financial sector and of banking market concentration on leverage of firms. This research uses a sample of 8142 SMEs representing every Spanish region for the period 1999–2007, and applies the panel data methodology. The results suggest that the capital structure depends on the regional financial sector, in terms of both its level of development and its degree of competition.
The Role of the Regional Financial Sector in the Capital Structure of Small and Medium-Sized Enterprises (SMEs)
Palacín-Sánchez, María-José (Autor:in) / di Pietro, Filippo (Autor:in)
Regional Studies ; 50 ; 1232-1247
02.07.2016
16 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
Capital structure , Small and medium-sized enterprises (SMEs) , Regional financial sector , Regional financial development , Bank concentration , 资本结构 , 中小型企业(SMEs) , 区域金融部门 , 区域金融发展 , 银行集中 , Structure du capital , Petites et moyennes entreprises (Pme) , Secteur financier régional , Développement régional d'organismes financiers , Concentration bancaire , Kapitalstruktur , Kleine und mittelständische Unternehmen (KMU) , Regionaler Finanzsektor , Regionale Finanzentwicklung , Bankenkonzentration , Estructura de capital , Pequeñas y medianas empresas (pymes) , Sector financiero regional , Desarrollo financiero regional , Concentración bancaria , JEL classification: G21, G32, R50
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