A Firm-Level Analysis of Small and Medium Size Enterprise Financing in Poland

@inproceedings{Klapper2006AFA,
  title={A Firm-Level Analysis of Small and Medium Size Enterprise Financing in Poland},
  author={Leora F. Klapper and Virginia Sarria-Allende and Rida Zaidi},
  year={2006}
}
The authors test competing theories of capital structure choices using firm-level data on firm borrowings. The majority of firms in the dataset are privately owned, young, micro or small and medium enterprise (SME) firms concentrated in the service sector. In general, the financing pattern of firms is low leverage ratios and, in particular, low levels of intermediated financing and long-term financing. Average firm growth rates decreased during the five years of the sample period. Average… CONTINUE READING

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