Access to Bank Credit and SME Financing
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
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Access to Bank Credit and SME Financing
Edited by
Stefania Patrizia Sonia Rossi
Palgrave Macmillan Studies in Banking and Financial Institutions
Series Editor Philip Molyneux Bangor University United Kingdom
Aim of the series The Palgrave Macmillan Studies in Banking and Financial Institutions series is international in orientation and includes studies of banking systems in particular countries or regions as well as contemporary themes such as Islamic Banking, Financial Exclusion, Mergers and Acquisitions, Risk Management, and IT in Banking. The books focus on research and practice and include up to date and innovative studies that cover issues which impact banking systems globally. More information about this series at http://www.springer.com/series/14678
Stefania Patrizia Sonia Rossi Editor
Access to Bank Credit and SME Financing
Editor Stefania Patrizia Sonia Rossi Department of Economics and Business University of Cagliari Italy
Palgrave Macmillan Studies in Banking and Financial Institutions ISBN 978-3-319-41362-4 ISBN 978-3-319-41363-1 (eBook) DOI 10.1007/978-3-319-41363-1 Library of Congress Control Number: 2016957875 © The Editor(s) (if applicable) and The Author(s) 2017 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Cover image © Shotshop GmbH / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is Gewerbestrasse 11, 6330 Cham, Switzerland
For my mother, brilliant mind, source of strength and inspiration. Stefania
Foreword
Following the global financial and European sovereign debt crises, liquidity shortage and heavy restrictions on bank financing have worsened conditions in credit markets for non-financial firms in Europe. Given their importance as drivers of employment, growth, and innovation in the European economy, easy access to credit becomes crucial especially for
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