Author: Leora F. Klapper Publisher: ISBN: Category : Languages : en Pages : 53
Book Description
There is currently a large interest in understanding firms' access to finance, particularly in the financing of small- and medium-size enterprises (SMEs). But the financing patterns of SMEs across countries is not well understood. For example, little is known about the relative importance of equity, debt, and inter-firm financing for SMEs across countries.The authors use the Amadeus database, which includes financial information on over 97,000 private and publicly traded firms in 15 Eastern and Central European countries. The Amadeus database allows the authors the opportunity to provide a new analysis of the general financing patterns of private firms across a large sample of Eastern European countries. The summanry statistics show that the size of the SME sector (as measured by the percentage of total employment) in Eastern European countries is smaller than in most developed economies. Although the authors find in almost every country in the sample a large number of SMEs as a percentage of total firms, the SMEs in Eastern Europe are generally small and hire few employees. However, SMEs seem to constitute the most dynamic sector of the Eastern European economies, relative to large firms. In general, the SME sector comprises relatively younger, more highly leveraged, and more profitable and faster growing firms. This suggests that a new type of firm is emerging in transition economies that is more market- and profit-oriented. But at the same time, these firms appear to have financial constraints that impede their access to long-term financing and ability to grow.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to better understand small- and medium-size enterprise financing.
Author: Leora Klapper Publisher: World Bank Publications ISBN: Category : New business enterprises Languages : en Pages : 60
Book Description
There is currently a large interest in understanding firms' access to finance, particularly in the financing of small- and medium-size enterprises (SMEs). But the financing patterns of SMEs across countries is not well understood. For example, little is known about the relative importance of equity, debt, and inter-firm financing for SMEs across countries. The authors use the Amadeus database, which includes financial information on over 97,000 private and publicly traded firms in 15 Eastern and Central European countries. The Amadeus database allows the authors the opportunity to provide a new analysis of the general financing patterns of private firms across a large sample of Eastern European countries. The summary statistics show that the size of the SME sector (as measured by the percentage of total employment) in Eastern European countries is smaller than in most developed economies. Although the authors find in almost every country in the sample a large number of SMEs as a percentage of total firms, the SMEs in Eastern Europe are generally small and hire few employees. However, SMEs seem to constitute the most dynamic sector of the Eastern European economies, relative to large firms. In general, the SME sector comprises relatively younger, more highly leveraged, and more profitable and faster growing firms. This suggests that a new type of firm is emerging in transition economies that is more market- and profit-oriented. But at the same time, these firms appear to have financial constraints that impede their access to long-term financing and ability to grow.
Book Description
Factoring is a form of asset-based finance where the credit is extended based on the value of the borrower's accounts receivable. In recent years factoring has experienced phenomenal growth and has become an important source of financing--especially short-term working capital--for small and medium-size enterprises and corporations, reaching a worldwide volume of 760 billion euro in 2003. Although the importance of factoring varies considerably around the world, it occurs in most countries and is growing especially quickly in many developing countries. Bakker, Klapper, and Udell explore the advantages of factoring over other types of lending for firms in developing economies, and discuss the informational, legal, tax, and regulatory barriers to its growth. They also examine the role of factoring in the eight Eastern European countries that became EU members on May 1, 2004--the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, the Slovak Republic, and Slovenia, referred to as the EU 8. The authors conclude that factoring offers key advantages over other lending products and is likely to become more important in these countries, and suggest policies to accelerate its development. This paper--a joint product of the Finance Team, Development Research Group and the Private and Financial Sector Development Department--is part of a larger effort in the Bank to study access to financing.
Author: Zdenek Drabek Publisher: Springer ISBN: 1349238007 Category : Business & Economics Languages : en Pages : 259
Book Description
The book examines in depth the progress of reform in the banking sector in Eastern Europe - which is a key element in its transition to the market. Particular emphasis is placed on the problem of bad debts owed by companies to banks, and on criteria and options for overcoming this serious problem. The book also analyses the recent development of capital markets in Eastern Europe, their role in attracting foreign capital flows and the limitations to the development of those markets and suggests how to overcome them. Based on analysis by senior policy-makers and academics from the region , the book focuses on four countries: the former Czechoslovakia (now the Czech and Slovak Republics), Hungary and Poland.
Author: Frank H. Columbus Publisher: Nova Publishers ISBN: 9781560726876 Category : Business & Economics Languages : en Pages : 304
Book Description
Central and Eastern Europe present more than a trivial challenge to the Developed Nations of the world as well as to themselves. Will they represent new markets, new sources of low-cost labour, or populations taking every action and avenue conceivable to emigrate to the Developed Nations? Will they be integrated into the Western economies and political structures or lose themselves into defensive postures and pose threats to the Developed Nations? This new series is intended to present current analyses of political and economic developments and trends in this crucial part of the world.
Author: Robert W. McGee Publisher: Springer Science & Business Media ISBN: 0387257101 Category : Business & Economics Languages : en Pages : 349
Book Description
Much has been written about the economic and political problems of countries that are in the process of changing from centrally planned systems to market systems. Most studies have focused on the economic, legal, political and sociological problems these economies have had to face during the transition period. However, not much has been written about the dramatic changes that have to be made to the accounting and financial system of a transition economy. This book was written to help fill that gap. This book is the second in a series to examine accounting and financial system reform in transition economies. The first book used Russia as a case study. The present volume in the series examines some additional aspects of the reform in Russia and also looks at the accounting and financial system reform efforts that are being made in Ukraine, Bosnia & Herzegovina, Armenia and five Central Asian republics.
Author: Publisher: World Bank Publications ISBN: 0821374184 Category : Business & Economics Languages : en Pages : 135
Book Description
This study evaluates the effectiveness of IFC's strategic priority of private sector development in frontier countries (high-risk and/or low-income) by supporting micro, small, and medium enterprises (MSMEs) during fiscal years (FY)1994-2006. IFC has channeled its support to MSME's by: i) indirect financing through financial intermediaries, and ii) by indirect institution-building support via specialized regional small and medium enterprise (SME) development facilities. This evaluation analyzes IFC's development results and provides recommendations on how IFC's performance can be improved in this area going forward.
Author: Marietta Janowicz-Lomott Publisher: Springer Nature ISBN: 3030399273 Category : Business & Economics Languages : en Pages : 348
Book Description
This proceedings book presents selected papers from the 10th international conference on the "Economies of the Balkan and Eastern European Countries in the Changing World" (EBEEC), held in Warsaw, Poland, in May 2018. In addition to discussing the latest research, it includes papers adopting a wide variety of theoretical approaches and empirical methodologies and covering a number of key areas, such as international economics, economic growth, finance and banking, insurance, healthcare, agriculture, labor and energy markets, innovation, management and marketing. In addition, the authors discuss policy instruments and best practices for the region. This book appeals to scholars and students in fields of economics and finance as well as practitioners interested in the development of the region.
Author: Robert Bideleux Publisher: Routledge ISBN: 113471985X Category : History Languages : en Pages : 726
Book Description
A History of Eastern Europe: Crisis and Change is a wide-ranging single volume history of the "lands between", the lands which have lain between Germany, Italy, and the Tsarist and Soviet empires. Bideleux and Jeffries examine the problems that have bedevilled this troubled region during its imperial past, the interwar period, under fascism, under communism, and since 1989. While mainly focusing on the modern era and on the effects of ethnic nationalism, fascism and communism, the book also offers original, striking and revisionist coverage of: * ancient and medieval times * the Hussite Revolution, the Renaissance, the Reformation and the Counter-Reformation * the legacies of Byzantium, the Ottoman Empire and the Hapsburg Empire * the rise and decline of the Polish-Lithuanian Commonwealth * the impact of the region's powerful Russian and Germanic neighbours * rival concepts of "Central" and "Eastern" Europe * the 1920s land reforms and the 1930s Depression. Providing a thematic historical survey and analysis of the formative processes of change which have played the paramount roles in shaping the development of the region, A History of Eastern Europe itself will play a paramount role in the studies of European historians.
Author: Leora F. Klapper
Author: Leora Klapper
Author: Marie-Renée Bakker
Author: Zdenek Drabek
Author: Frank H. Columbus
Author: 
Author: Robert W. McGee
Author: 
Author: Marietta Janowicz-Lomott
Author: Robert Bideleux