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Determinants of financing constraints: Evidence from European SMEs

Publication EMN Working papers

Despite a vast contribution of empirical studies about firms’ characteristics explaining financial frictions, analysis of supply-side characteristics justifying such statements remains less explored. The paper aims to assess which factors in the financial market (supply side) have a higher impact on firms’ likelihood to be financially constrained when they have growth ambitions and need external finance.

This is the abstract from a research paper competing for the 13th European Microfinance Research Award.