This project is supported by a grant of Ministery of Research and Innovation, CNCS - UEFISCDI, project number PN-III-P4-ID-PCCF-2016-0166, within PNCDI III © Centre for European Studies - Alexandru Ioan Cuza University of Iasi   

EVENTS.

Results.

PUBLICATIONS.

Published papers by project members ARTICLES 1. Alin Marius Andries, Nicu Marcu, Florin Oprea and Mihaela Tofan (2018) Financial Infrastructure and Access to Finance for European SMEs, Sustainability, 10(10), 3400 | link Abstract: In this article we assess credit rationing across European countries by analyzing the impact of banking competition on the access to finance of firms. The importance of the financial sector in promoting the sustainable economy is recognized by the European Union, that has taken the lead in efforts to build a financial system that supports sustainable growth. However, it should be acknowledged that in highly competitive business environments, it is not easy to challenge the existing paradigms, since companies need to be profitable in addition to improving their environmental performance. Using data from European firms Survey on the Access to Finance of small- and medium-sized enterprises (SMEs), our results, using Probit regression, support the Market Power Hypothesis, outlining that more concentrated banking markets are characterized by higher levels of credit rationing. Also, our results reveal that small firms are more credit rationed compared to large firms. The analysis shows that financial constraints are stronger in the countries more affected by the financial crisis.
ReGrowEU project
ReGrowEU KICKOFF CONFERENCE | 25-26 October 2018, IASI – ROMANIA Programme  | Photos

CONFERENCE PARTICPATION.

Published papers by project members 1.
© Centre for European Studies - Alexandru Ioan Cuza University of Iași

Results.

PUBLICATIONS.

Published papers by project members ARTICLES 1. Alin Marius Andries, Nicu Marcu, Florin Oprea  and Mihaela Tofan (2018) Financial Infrastructure and Access to Finance for European SMEs, Sustainability, 10(10), 3400 | link Abstract: In this article we assess credit rationing across European countries by analyzing the impact of banking competition on the access to finance of firms. The importance of the financial sector in promoting the sustainable economy is recognized by the European Union, that has taken the lead in efforts to build a financial system that supports sustainable growth. However, it should be acknowledged that in highly competitive business environments, it is not easy to challenge the existing paradigms, since companies need to be profitable in addition to improving their environmental performance. Using data from European firms Survey on the Access to Finance of small- and medium-sized enterprises (SMEs), our results, using Probit regression, support the Market Power Hypothesis, outlining that more concentrated banking markets are characterized by higher levels of credit rationing. Also, our results reveal that small firms are more credit rationed compared to large firms. The analysis shows that financial constraints are stronger in the countries more affected by the financial crisis.

CONFERENCE PARTICPATION.

Published papers by project members 1.
ReGrowEU KICKOFF CONFERENCE | 25-26 October 2018, IASI – ROMANIA Programme  | Photos