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| Tekijä: | Berger, A. N. Udell, G. F. |
| Otsikko: | The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle |
| Lehti: | Journal of Banking and Finance
1998 : AUG, VOL. 22:6-8, p. 613-673 |
| Asiasana: | Banking Bank lending Mergers Venture capital Small business |
| Kieli: | eng |
| Tiivistelmä: | The article examines the economics of financing small business in private equity and debt markets. Firms are viewed through a financial growth cycle paradigm in which different capital structures are optimal at different points in the cycle. The sources of small business finance, and how capital structure varies with firm size and age is shown in the paper. The interconnectedness of small firm finance is discussed along with the impact of the macroeconomic environment. There is also analyzed a number of research and policy issues, review the literature, and suggest topics for future research. |
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