代写论文 融资

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Cross-country studies conducted so far demonstrate that SMEs undeniably face large financing constrictions that obstruct the survival and growth of such firms. In this context, one of the most notable revelations is that asymmetric information stuck between the lender and the borrower of SMEs might impede financial institutions keenness to offer finance. This eventually would slow down the SMEs performance in terms of various growth indicators. In this context, Coluzzi, Ferrando and Martinez-Carrasca (2008) cited in Balling et al (2009), study the financing obstructions of five euro area countries (Germany, Spain, France, Italy and Portugal) making use of survey data gathered from SMEs made available by the World Bank. The findings of their study reveal that growing SMEs clearly grow up quicker than grown-up SMEs, however when it comes to financing challenge or accessibility of financing, the growing up SMEs have comparatively more financing constraints than the grown up. More specifically, as they reveal SMES the manufacturing and construction sectors are more probable to be hampered by non or restricted accessibility of which might be due to the far above the ground capital requirement for operation in these sectors.

On the other end, Huyghebaert (2008) have studied the facet of the result of financing control on SMEs conduct , and based on the findings of their study they contend that high control forms spurs for SMEs to take full advantage of immediate income for reducing the risk of unhelpful financing decisions by financing organizations and a likely resultant liquidation of the SMEs, seeing as their survival and growth is a decisive for those usually holding a mainly investment portfolio in undiversified form and benefit from large private benefits from control.

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跨国家的研究到目前为止表明,中小企业面临融资约束不可否认大阻碍的生存和生长进行这样的公司。在这种情况下,最显著的一个启示是信息不对称的卡贷款人和借款人之间可能会阻碍中小企业的金融机构提供融资的敏锐。这最终会慢下来的各种生长指标方面的中小企业绩效。在这样的背景下,coluzzi,用马丁内兹carrasca(2008)造球等人引用(2009),研究五个欧元区国家的融资障碍(德国,西班牙,法国,意大利和葡萄牙)利用调查数据收集由世界银行提供中小企业。他们的研究结果表明,越来越多的中小企业成长的中小企业显然比成人快,但是当涉及到融资挑战或可访问性融资,中小企业的成长具有比长大了相对更多的融资约束。更具体地说,因为它们揭示了中小企业的制造业和建筑业更可能是非或限制性受到阻碍,可能会对由于远高于这些部门操作地面的资本要求。

在另一端,huyghebaert(2008)研究了在中小企业融资方面进行控制的结果,并根据他们的研究,他们认为,较高的控制形式,马刺队中小企业充分利用直接收入减少无用的融资决策的金融机构的风险和可能产生的中小企业清算结果,因为他们的生存和增长是那些通常保持在单一形式和大型私人效益主要从控制投资组合的决定。

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