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| Author: | Hernandez-Canovas, G. Koeter-Kant, J. |
| Title: | Debt maturity and relationship lending: An analysis of European SMEs |
| Journal: | International Small Business Journal
2008 : OCT, VOL. 26:5, p. 595-617 |
| Index terms: | small and medium-sized enterprises (SMEs) bank lending debt Europe |
| Language: | eng |
| Abstract: | This study explores the association btw. bank debt (hereafter as: b-d.) maturity (here as: m-ty.) and relationship lending (as: r-s-lndg.) using a unique survey sample of 3,366 SMEs from 19 European countries (as: ctrs). The results indicate that stronger firm-bank relationships lengthen the b-d. m-ty. and that this association is country specific. It is shown that r-s-lndg. increases/decreases the likelihood of long-term debt for SMEs in ctrs. with less/more competitive banking sector. These results imply that new unified rules within the European community (EC) may impact SME access to b-d. differently, depending on the country the firm operates in etc. |
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