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oapen-20.500.12657-434022021-01-25T13:50:41Z EIB Working Papers 2019/03 - Financing and obstacles for high growth enterprises Pal, Rozalia Durante, Elena Ferrando, Annalisa European Investment Bank Business & Economics Finance General bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance Firms can be identified as high growth, stable or declining. This paper investigates the links between these different phases in the life of a firm, investment activity, financing needs and financing constraints. Using the representative EIBIS survey of EU companies, it finds that firms in a high growth phase are more likely to apply for equity financing and more likely to be financially constrained. Further, it identifies firms with a high growth potential. The most severe barriers for high-growth enterprises are the availability of skilled staff and business regulations, while potential high-growth enterprises are more constrained by uncertainty about the future. 2020-12-15T13:26:43Z 2020-12-15T13:26:43Z 2019 book 9789286142314 https://library.oapen.org/handle/20.500.12657/43402 eng application/pdf n/a external_content.pdf European Investment Bank European Investment Bank https://doi.org/10.2867/14742 https://doi.org/10.2867/14742 66479d04-7b84-49c0-9a4d-db552a3ecc71 b818ba9d-2dd9-4fd7-a364-7f305aef7ee9 9789286142314 Knowledge Unlatched (KU) European Investment Bank Knowledge Unlatched open access
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Firms can be identified as high growth, stable or declining. This paper investigates the links between these different phases in the life of a firm, investment activity, financing needs and financing constraints. Using the representative EIBIS survey of EU companies, it finds that firms in a high growth phase are more likely to apply for equity financing and more likely to be financially constrained. Further, it identifies firms with a high growth potential. The most severe barriers for high-growth enterprises are the availability of skilled staff and business regulations, while potential high-growth enterprises are more constrained by uncertainty about the future.
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