Financing Patterns Around the World
Financing Patterns Around the World

Author: Thorsten Beck

Publisher: World Bank Publications

Published: 2002

Total Pages: 60

ISBN-13:

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Using a firm-level survey database covering 48 countries, Beck, Demirgüç-Kunt, and Maksimovic investigate whether differences in financial and legal development affect the way firms finance their investments. The results indicate that external financing of investments is not a function of institutions, although the form of external finance is. The authors identify two explanations for this. First, legal and financial institutions affect different types of external finance in offsetting ways. Second, firm size is an important determinant of whether firms can have access to different types of external finance. Larger firms with financing needs are more likely to use external finance compared with small firms. The results also indicate that these firms are more likely to use external finance in more developed financial systems, particularly debt and equity finance. The authors also find evidence consistent with the pecking order theory in financially developed countries, particularly for large firms. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand firms' access to financial services.

The Global Findex Database 2017
The Global Findex Database 2017

Author: Asli Demirguc-Kunt

Publisher: World Bank Publications

Published: 2018-04-19

Total Pages: 228

ISBN-13: 1464812683

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In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Corporate Capital Structures in the United States
Corporate Capital Structures in the United States

Author: Benjamin M. Friedman

Publisher: University of Chicago Press

Published: 2009-05-15

Total Pages: 404

ISBN-13: 0226264238

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The research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate "The Changing Role of Debt and Equity in Financing U.S. Capital Formation." The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financial underpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.

Enterprise Size, Financing Patterns, and Credit Constraints in Brazil
Enterprise Size, Financing Patterns, and Credit Constraints in Brazil

Author: Anjali Kumar

Publisher: World Bank Publications

Published: 2005-01-01

Total Pages: 73

ISBN-13: 0821361295

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'Enterprise Size, Financing Patterns, and Credit Constraints in Brazil' investigates the importance of firm size with respect to accessing credit. The principal findings are that size strongly affects access to credit compared to firm performance, and other factors, such as management education, location or the industrial sector to which the firm belongs. Additional findings are that the impact of size on access to credit is greater for longer term loans and that public financial institutions are more likely to lend to large firms. Finally, financial access constraints may have a less significant differential impact across firms of different sizes than other constraints, though cost of finance as a constraint is very important.

The Evidence and Impact of Financial Globalization
The Evidence and Impact of Financial Globalization

Author:

Publisher: Academic Press

Published: 2012-12-31

Total Pages: 807

ISBN-13: 012405899X

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The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. - Substantial articles by top scholars sets this volume apart from other information sources - Rapidly developing subjects will interest readers well into the future - Reader demand and lack of competitors underline the high value of these reference works

The Oxford Handbook of Banking
The Oxford Handbook of Banking

Author: Allen N. Berger

Publisher: Oxford University Press

Published: 2010

Total Pages: 1033

ISBN-13: 0199236615

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This handbook provides an overview and analysis of state-of-the-art research in banking written by researchers in the field. It includes abstract theory, empirical analysis, and practitioner and policy-related material.

Institutions and Accounting Practices after the Financial Crisis
Institutions and Accounting Practices after the Financial Crisis

Author: Victoria Krivogorsky

Publisher: Routledge

Published: 2019-01-30

Total Pages: 206

ISBN-13: 1315468638

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Financial globalization paired with the relaxation of constraints on capital flows between countries before the 2008 crisis, increased merger activities among the World’s largest stock exchanges. The financial crisis of 2008 had a severe impact on the development of equity markets, corporate financial stability, and corporate governance, and a multi-step approach is needed to fully appreciate the causes and effects of this event. This book engages the separate strands of literature to advance a more holistic understanding of whether and how the national institutional environments in selected countries around the world has been changed after the crisis. Institutions and Accounting Practices after the Financial Crisis: International Perspective sets out a framework for the analysis of institutional environments and accounting practices in in selected countries around the world during the pre-crisis period, followed by an examination of the impact of the crisis. It scrutinizes the changing roles of debt and equity markets; the shift in accounting practices and capital financing choices due to the economic downturn; and the lessons that can be obtained from the financial crisis, while considering the institutional architecture of international business environments. This ongoing process of integration and globalization increases interdependence between world markets, and allows shocks to propagate across national and continental lines, making the understanding of international markets vitally important to American investors. Aimed at primarily researchers, academics and students in the fields of international accounting, management and finance, Institutions and Accounting Practices after the Financial Crisis: International Perspective will additionally be of value to practitioners and policy makers, supplying them with information regarding the changes in accounting practices and risk evaluation due to the crisis.

Contemporary Developments in Entrepreneurial Finance
Contemporary Developments in Entrepreneurial Finance

Author: Alexandra Moritz

Publisher: Springer Nature

Published: 2019-08-22

Total Pages: 338

ISBN-13: 3030176126

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More extensive regulations, new technologies, and new means of communication have significantly changed the financing landscape for startups and small to medium-sized companies (SMEs). This volume provides a contemporary research-based overview of the latest trends in entrepreneurial finance and outlines expected future developments. Starting with the status quo in market regulations and the financing structure of SMEs, it addresses a broad range of new financing alternatives for innovative startups (e.g. business angel financing, venture capital and corporate venture capital), as well as recent social phenomena (e.g. crowdfunding and initial coin offerings (ICOs)). Incorporating qualitative, quantitative and mixed analytical methods, the book contributes to a better understanding of the financing world by reflecting both the researcher’s and the practitioner’s perspective.

Economic Integration in East Asia
Economic Integration in East Asia

Author: Charles Harvie

Publisher: Routledge

Published: 2015-05-15

Total Pages: 192

ISBN-13: 1317487664

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International production networks in manufacturing, particularly in machinery industries, have rapidly developed over the last two decades, resulting in dramatic increases in intra-regional and intra-industry trade, providing a key source of regional growth, integration and development in East Asia. This book provides a better understanding on how to effectively further increase SME participation in East Asian production networks, and in doing so identifies key challenges and issues that they need to address. This book aims to not only fill the theory-practice gap, but also to lay solid foundations for designing national arrangements and a regional institutional frameworks to further encourage and support SME engagement and participation in regional and global production networks. The book contains several country case studies and by drawing upon individual country experiences, at various stages of economic development, this book demonstrates the varying difficulty faced by SMEs in ASEAN member countries attempting to participate in regional production networks and highlighting differences in needs and policy priorities. This book offers both a more focused theme on the assessment of globalization and a rather unique approach by focusing upon the particular importance of SMEs, and by utilizing micro-level data at the firm or plant level. Its policy insights and the richness and uniqueness of the empirical findings will make the book an invaluable contribution to understanding East Asian production networks.

Access to Bank Credit and SME Financing
Access to Bank Credit and SME Financing

Author: Stefania Rossi

Publisher: Springer

Published: 2016-12-02

Total Pages: 352

ISBN-13: 3319413635

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This book explores how the global financial and European sovereign debt crises have forced small-and-medium-sized businesses (SMEs) to reassess and adapt their funding strategies. At the heart of the matter is the worsening access to bank credit for such enterprises. Through this discussion we learn how crucial an understanding of SME-financing is to policy makers, in light of the fact that SMEs dominate the business landscape in Europe and are the main drivers of employment, growth and innovation in the European economy. Contributing chapters present expert analysis and investigate many topics including the problems faced by SMEs in accessing bank credit and the cost of funding and its determinants. Particular attention is also given to how credit-constrained enterprises may reformulate their funding strategies by employing alternative, non-bank, financial resources, and how regulators could support SMEs in broadening and improving their funding opportunities.