Click here to download

Relationships and availability of credit to new small firms
Author/s: Enrico Colombatto, Arie Melnik, Chiara Monticone 
Year:  2012 Issue: Language: English 
Pages:  17 Pg. 5-21 FullText PDF:  157 KB
DOI:  10.3280/POLI2012-001001
(DOI is like a bar code for intellectual property: to have more infomation:  clicca qui   and here 

The paper analyzes the bank loans secured by recently incorporated small-sized firms based on a sample of Italian companies founded between 1992 and 2004. The study shows that the amount of the loan issued is influenced primarily by the size of the firm and the ability to provide collateral, that the influence of the perceived risk is weak, and that the length of the relationship has a non-linear impact on the size of the bank loan granted.
Keywords: Young firms, bank loans, collateral, relationship
Jel Code: L26, G21, G32

  1. Istat. 2006. Struttura e dimensione delle imprese. Archivio statistico delle imprese attive (ASIA). Istituto Nazionale di Statistica: Roma.
  2. Manove M.A., Padilla J., Pagano M. 2001. Collateral vs. project screening: a model of lazy banks. RAND Journal of Economics, 32 (4): 726-744.
  3. Petersen M., Rajan R. 1994. The benefits of lending relationships: evidence from small business data. Journal of Finance, 49 (1): 3-37
  4. Rajan R., Winton A. 1995. Covenants and collateral as incentives to monitor. Journal of Finance, 50 (4): 1113-1146
  5. Rajan R., Zingales L. 1995. What do we know about capital structure? Some evidence from internet data.

Enrico Colombatto, Arie Melnik, Chiara Monticone, in "ECONOMIA E POLITICA INDUSTRIALE " 1/2012, pp. 5-21, DOI:10.3280/POLI2012-001001


FrancoAngeli is a member of Publishers International Linking Association a not for profit orgasnization wich runs the CrossRef service, enabing links to and from online scholarly content