The effect of credit rationing on employment of Eurozone small and medium-sized enterprises (SMEs)

• Κύριος συγγραφέας: Αράπη, Αφροδίτη
• Άλλοι συγγραφείς: Γιαννακόπουλος, Νικόλας
• Μορφή: Thesis
• Γλώσσα: English
• Έκδοση: 2017
• Θέματα: Credit rationing; Financial constraints; Employment growth; Information assymetry; Επίπεδο απασχόλησης; Χρηματοπιστωτικοί περιορισμοί; Ασύμμετρη πληροφόρηση; 331.120 4

In this dissertation, we examine the impact of Credit Rationing on employment outcomes of eurozone SMEs. Credit rationing is highly correlated with asymmetric information and has an important effect on firm’s development and employment, especially for Small and Medium sized enterprises (SMEs). Lending is the main source of financing of SMEs, so their inability to obtain a loan, may leads to a reduction of employment growth and Europe’s economic performance. What is the impact of Credit Rationing on Employment Growth and Employment Level of SMEs of 28 countries of European Union, between the years 2009-2015? What other factors does determine Employment Outcomes and how Employment is affected when a firm Needs Borrowing? Estimating with OLS, Random Effects and Fixed Effects estimation methods a combined dataset with data deriving from three different databases, we find that an increase in Credit Rationing and in the percentage of firms which need lending, causes a reduction in both Employment Level and Growth. Other determinants of Employment Outcomes seem to play an important role, too