The Consequences of the International Crisis for European SMEs

The Consequences of the International Crisis for European SMEs
Author: Bruno Dallago
Publisher: Routledge
Total Pages: 322
Release: 2012-12-07
Genre: Business & Economics
ISBN: 1136190503

The book explores how, to what extent and with what consequences the international crisis of 2007-2008 and the recession which followed have affected European SMEs (small and medium enterprises) in both the well established market economies of the old member countries and in the post-transformation new member countries, and what can be done at the institutional and political level to uphold them.

The Consequences of the International Crisis for European SMEs

The Consequences of the International Crisis for European SMEs
Author: Bruno Dallago
Publisher: Routledge
Total Pages: 322
Release: 2012
Genre: Business & Economics
ISBN: 0415680859

The book explores how, to what extent and with what consequences the international crisis of 2007-2008 and the recession which followed have affected European SMEs (small and medium enterprises) in both the well established market economies of the old member countries and in the post-transformation new member countries, and what can be done at the institutional and political level to uphold them.

Economic Crisis in Europe

Economic Crisis in Europe
Author: Paul van den Noord
Publisher:
Total Pages: 0
Release: 2011
Genre: European Union countries
ISBN: 9789279153631

The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.

Enlargement of the European Union

Enlargement of the European Union
Author: Allan F. Tatham
Publisher: Kluwer Law International B.V.
Total Pages: 594
Release: 2009-01-26
Genre: Law
ISBN: 9041144358

The development of EU enlargement has raised many thorny issues unanticipated by the framers of the EC Treaty. A significant upshot of these issues is that the concept of European identity – defined in terms of such factors as culture, history and economics – has supplanted the long-dominant theme of ‘widening and deepening,’ particularly since the Union’s expansion has become primarily eastward. The major contribution of this important book lies in its analysis of the conceptualization and perception of enlargement from various points of view, focusing on the concerns of stakeholders and the ‘identity’ conflicts and uncertainties incurred by enlargement initiatives. In the course of its presentation, it details the actual pre-accession Europeanization process and its complex history. Among the key elements discussed are the following: the conflict between ‘widening’ and ‘deepening’ and the effect on EU institutional reform; institutional requirements on candidate countries; pre-accession criteria and negotiations; administrative capacity, judicial capacity, and legal approximation in accession states; capacity of the EU to absorb new Member States; and EC law as part of European identity. Also covered are specific historical details of particular pre-accession negotiations (e.g., Greece, Spain, Portugal, Malta, and Cyprus), the still inconclusive negotiations with Turkey and the Western Balkan states, and political factors involved in the non-accession of Norway, Iceland and Switzerland. Assembling powerful evidence and applying incisive analysis, the author’s conclusion shows that, absent further (and major) EU institutional reform, it will be difficult for an enlarging Union to continue to ‘deliver the goods.’ A watershed in the continuing great debate on the fulfilment of the EC Treaty’s determination to foster and promote ‘an ever closer union of the peoples of Europe,’ this book will prove invaluable to anybody interested in the European integration project, particularly lawyers, academics, officials and policymakers in the EU Member States.

Trade Credit and Bank Credit

Trade Credit and Bank Credit
Author: Inessa Love
Publisher: World Bank Publications
Total Pages: 34
Release: 2005
Genre: Bank loans
ISBN:

"The authors study the effect of financial crises on trade credit in a sample of 890 firms in six emerging economies. They find that although provision of trade credit increases right after the crisis, it consequently collapses in the following months and years. The authors observe that firms with weaker financial position (for example, high pre-crisis level of short-term debt and low cash stocks and cash flows) are more likely to reduce trade credit provided to their customers. This suggests that the decline in aggregate credit provision is driven by the reduction in the supply of trade credit, which follows the bank credit crunch. The results are consistent with the "redistribution view" of trade credit provision, in which bank credit is redistributed by way of trade credit by the firms with stronger financial position to the firms with weaker financial stand "--World Bank web site.

Law and Finance after the Financial Crisis

Law and Finance after the Financial Crisis
Author: Abdul Karim Aldohni
Publisher: Routledge
Total Pages: 224
Release: 2016-12-19
Genre: Business & Economics
ISBN: 1317385578

The 2008 financial crisis has become one of the defining features of the twenty first century’s first decade. The series of events which unfolded in the aftermath of the crisis has exposed major structural flaws in many of the financial systems around the globe, triggering a global call for legal and regulatory reforms to address the problems that have been uncovered. This book deals with a neglected angle of the 2008 financial crisis looking in-depth at the implicit effects of the 2008 crisis on the UK financial market. The book considers new trends in finance which have emerged since the crisis as well as the challenges faced by some older practices in the UK financial markets. After providing a reflective account of the history of law and creditors in the UK the book investigates the proliferation of certain forms of financing that have recently become very visible parts of the UK financial market’s structure, such as high cost short term lending and peer to peer lending. It provides legal and economic accounts of these forms of alternative lending, charting their developments, current status and critically assesses their impact on the UK financial market. Also examined are the ongoing funding difficulties faced by Small and Medium Enterprises (SMEs) and the suitability of the UK current legal framework to support these institutions. The book goes on to look at the viability and safety of some other post crisis trends such as banks use of Contingent Convertible Bonds (CoCos) to improve their resilience.

New Models of Financing and Financial Reporting for European SMEs

New Models of Financing and Financial Reporting for European SMEs
Author: Eva Kaili
Publisher: Springer
Total Pages: 204
Release: 2019-02-28
Genre: Business & Economics
ISBN: 3030028313

This book looks at the 23 million registered Small and Medium Enterprises (SMEs) that make up 98 per cent of the EU economy. Addressing the high end of SMEs in terms of new models for SME funding and financial reporting, this merged way of looking at SMEs reveals a ‘myopic’ thinking in terms of net present value and (future) cash flows generating short-termism and low risk appetite for business. This is not an accounting issue, but rather a preference toward certain financial tools. A segment of SMEs, the ones that seek new ways of funding possibilities, as well as modern technologies (MTFs listing, blockchain, ICOs, etc.) do require, even without knowing, IFRS for SMEs. This book reveals how market conditions impact the financial performance and sustainability of SMEs and also generate innovative policy interventions and financing strategies for SME integrity and efficiency. The authors frame their arguments in the context of the Capital Markets Union, looking at the Innovation Triangle, SME growth ecosystem and business models. They conclude by advocating for closing the circle of financing and financial reporting for SMEs, while considering if new financial models of financing and financial reporting are good for all the SMEs or only for some. The economy is being shaped by new models of financing and financial reporting. Read this practitioners’ view to understand the current changes and challenges.

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies
Author: Mr.Federico J Diez
Publisher: International Monetary Fund
Total Pages: 29
Release: 2021-04-02
Genre: Business & Economics
ISBN: 1513574566

The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.