A More Complete Conceptual Framework for Financing of Small and Medium Enterprises
The authors propose a more complete conceptual framework for analysis of credit availability for small and medium enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national financial structures affect credit availability. They emphasize a causal chain from policy to financial structures which affect the feasibility and profitability of different lending technologies. These technologies, in turn, have important effects on SME credit availability. Financial structures include the presence of different financial institution types and the conditions under which they operate. Lending technologies include several transactions technologies, plus relationship lending. The authors argue that the framework implicit in most of the literature is oversimplified, neglects key elements of the chain, and often yields misleading conclusions. A common oversimplification is the treatment of transactions technologies as a homogeneous group, unsuitable for serving informationally opaque SMEs, and a frequent misleading conclusion is that large institutions are disadvantaged in lending to opaque SMEs.
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dig-okr-1098685532024-08-08T17:14:48Z A More Complete Conceptual Framework for Financing of Small and Medium Enterprises Berger, Allen N. Udell, Gregory F. ACCOUNTING ACCOUNTING STANDARDS ADVERSE SELECTION AGENCY PROBLEMS ASSETS BANK LENDING BANK PRIVATIZATION BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CHECKING ACCOUNTS COMMERCIAL BANKS COMMERCIAL CREDIT COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONVENTIONAL FACTORING CREDIT RISK DEBT DEPOSIT ACCOUNTS DEVELOPMENT BANKS ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC THEORY ECONOMIES OF SCALE EMPLOYMENT EXOGENOUS VARIABLES FACTORING FEDERAL RESERVE SYSTEM FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FOREIGN BANKS FOREIGN INVESTMENT GDP GNP GOVERNMENT POLICIES GOVERNMENT SUBSIDIES IMPLICIT CONTRACT INEFFICIENCY INTEREST RATE INTEREST RATES INVENTORY LAWS LIQUIDATION LIQUIDATION VALUE MANDATES MARKET DISCIPLINE MARKET VALUE MERGERS MORAL HAZARD ORGANIZATIONAL FORM PREDICTIONS PRESENT VALUE PRICE DISCRIMINATION PROFITABILITY PROPERTY RIGHTS RELATIONSHIP LENDING SMALL BANKS SMALL BUSINESS STATE OWNERSHIP STATEMENT STATEMENTS SUBSIDIARY TAX RATE TRADE CREDIT TRADE CREDITORS TRANSITION ECONOMIES WORKING CAPITAL The authors propose a more complete conceptual framework for analysis of credit availability for small and medium enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national financial structures affect credit availability. They emphasize a causal chain from policy to financial structures which affect the feasibility and profitability of different lending technologies. These technologies, in turn, have important effects on SME credit availability. Financial structures include the presence of different financial institution types and the conditions under which they operate. Lending technologies include several transactions technologies, plus relationship lending. The authors argue that the framework implicit in most of the literature is oversimplified, neglects key elements of the chain, and often yields misleading conclusions. A common oversimplification is the treatment of transactions technologies as a homogeneous group, unsuitable for serving informationally opaque SMEs, and a frequent misleading conclusion is that large institutions are disadvantaged in lending to opaque SMEs. 2012-06-20T18:51:53Z 2012-06-20T18:51:53Z 2005-12 http://documents.worldbank.org/curated/en/2005/12/6474484/more-complete-conceptual-framework-financing-small-medium-enterprises https://hdl.handle.net/10986/8553 English Policy Research Working Paper; No. 3795 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf text/plain World Bank, Washington, DC |
| institution |
Banco Mundial |
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DSpace |
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Estados Unidos |
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US |
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Bibliográfico |
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En linea |
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dig-okr |
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biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
English |
| topic |
ACCOUNTING ACCOUNTING STANDARDS ADVERSE SELECTION AGENCY PROBLEMS ASSETS BANK LENDING BANK PRIVATIZATION BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CHECKING ACCOUNTS COMMERCIAL BANKS COMMERCIAL CREDIT COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONVENTIONAL FACTORING CREDIT RISK DEBT DEPOSIT ACCOUNTS DEVELOPMENT BANKS ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC THEORY ECONOMIES OF SCALE EMPLOYMENT EXOGENOUS VARIABLES FACTORING FEDERAL RESERVE SYSTEM FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FOREIGN BANKS FOREIGN INVESTMENT GDP GNP GOVERNMENT POLICIES GOVERNMENT SUBSIDIES IMPLICIT CONTRACT INEFFICIENCY INTEREST RATE INTEREST RATES INVENTORY LAWS LIQUIDATION LIQUIDATION VALUE MANDATES MARKET DISCIPLINE MARKET VALUE MERGERS MORAL HAZARD ORGANIZATIONAL FORM PREDICTIONS PRESENT VALUE PRICE DISCRIMINATION PROFITABILITY PROPERTY RIGHTS RELATIONSHIP LENDING SMALL BANKS SMALL BUSINESS STATE OWNERSHIP STATEMENT STATEMENTS SUBSIDIARY TAX RATE TRADE CREDIT TRADE CREDITORS TRANSITION ECONOMIES WORKING CAPITAL ACCOUNTING ACCOUNTING STANDARDS ADVERSE SELECTION AGENCY PROBLEMS ASSETS BANK LENDING BANK PRIVATIZATION BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CHECKING ACCOUNTS COMMERCIAL BANKS COMMERCIAL CREDIT COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONVENTIONAL FACTORING CREDIT RISK DEBT DEPOSIT ACCOUNTS DEVELOPMENT BANKS ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC THEORY ECONOMIES OF SCALE EMPLOYMENT EXOGENOUS VARIABLES FACTORING FEDERAL RESERVE SYSTEM FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FOREIGN BANKS FOREIGN INVESTMENT GDP GNP GOVERNMENT POLICIES GOVERNMENT SUBSIDIES IMPLICIT CONTRACT INEFFICIENCY INTEREST RATE INTEREST RATES INVENTORY LAWS LIQUIDATION LIQUIDATION VALUE MANDATES MARKET DISCIPLINE MARKET VALUE MERGERS MORAL HAZARD ORGANIZATIONAL FORM PREDICTIONS PRESENT VALUE PRICE DISCRIMINATION PROFITABILITY PROPERTY RIGHTS RELATIONSHIP LENDING SMALL BANKS SMALL BUSINESS STATE OWNERSHIP STATEMENT STATEMENTS SUBSIDIARY TAX RATE TRADE CREDIT TRADE CREDITORS TRANSITION ECONOMIES WORKING CAPITAL |
| spellingShingle |
ACCOUNTING ACCOUNTING STANDARDS ADVERSE SELECTION AGENCY PROBLEMS ASSETS BANK LENDING BANK PRIVATIZATION BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CHECKING ACCOUNTS COMMERCIAL BANKS COMMERCIAL CREDIT COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONVENTIONAL FACTORING CREDIT RISK DEBT DEPOSIT ACCOUNTS DEVELOPMENT BANKS ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC THEORY ECONOMIES OF SCALE EMPLOYMENT EXOGENOUS VARIABLES FACTORING FEDERAL RESERVE SYSTEM FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FOREIGN BANKS FOREIGN INVESTMENT GDP GNP GOVERNMENT POLICIES GOVERNMENT SUBSIDIES IMPLICIT CONTRACT INEFFICIENCY INTEREST RATE INTEREST RATES INVENTORY LAWS LIQUIDATION LIQUIDATION VALUE MANDATES MARKET DISCIPLINE MARKET VALUE MERGERS MORAL HAZARD ORGANIZATIONAL FORM PREDICTIONS PRESENT VALUE PRICE DISCRIMINATION PROFITABILITY PROPERTY RIGHTS RELATIONSHIP LENDING SMALL BANKS SMALL BUSINESS STATE OWNERSHIP STATEMENT STATEMENTS SUBSIDIARY TAX RATE TRADE CREDIT TRADE CREDITORS TRANSITION ECONOMIES WORKING CAPITAL ACCOUNTING ACCOUNTING STANDARDS ADVERSE SELECTION AGENCY PROBLEMS ASSETS BANK LENDING BANK PRIVATIZATION BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CHECKING ACCOUNTS COMMERCIAL BANKS COMMERCIAL CREDIT COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONVENTIONAL FACTORING CREDIT RISK DEBT DEPOSIT ACCOUNTS DEVELOPMENT BANKS ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC THEORY ECONOMIES OF SCALE EMPLOYMENT EXOGENOUS VARIABLES FACTORING FEDERAL RESERVE SYSTEM FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FOREIGN BANKS FOREIGN INVESTMENT GDP GNP GOVERNMENT POLICIES GOVERNMENT SUBSIDIES IMPLICIT CONTRACT INEFFICIENCY INTEREST RATE INTEREST RATES INVENTORY LAWS LIQUIDATION LIQUIDATION VALUE MANDATES MARKET DISCIPLINE MARKET VALUE MERGERS MORAL HAZARD ORGANIZATIONAL FORM PREDICTIONS PRESENT VALUE PRICE DISCRIMINATION PROFITABILITY PROPERTY RIGHTS RELATIONSHIP LENDING SMALL BANKS SMALL BUSINESS STATE OWNERSHIP STATEMENT STATEMENTS SUBSIDIARY TAX RATE TRADE CREDIT TRADE CREDITORS TRANSITION ECONOMIES WORKING CAPITAL Berger, Allen N. Udell, Gregory F. A More Complete Conceptual Framework for Financing of Small and Medium Enterprises |
| description |
The authors propose a more complete conceptual framework for analysis of credit availability for small and medium enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national financial structures affect credit availability. They emphasize a causal chain from policy to financial structures which affect the feasibility and profitability of different lending technologies. These technologies, in turn, have important effects on SME credit availability. Financial structures include the presence of different financial institution types and the conditions under which they operate. Lending technologies include several transactions technologies, plus relationship lending. The authors argue that the framework implicit in most of the literature is oversimplified, neglects key elements of the chain, and often yields misleading conclusions. A common oversimplification is the treatment of transactions technologies as a homogeneous group, unsuitable for serving informationally opaque SMEs, and a frequent misleading conclusion is that large institutions are disadvantaged in lending to opaque SMEs. |
| topic_facet |
ACCOUNTING ACCOUNTING STANDARDS ADVERSE SELECTION AGENCY PROBLEMS ASSETS BANK LENDING BANK PRIVATIZATION BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CHECKING ACCOUNTS COMMERCIAL BANKS COMMERCIAL CREDIT COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONVENTIONAL FACTORING CREDIT RISK DEBT DEPOSIT ACCOUNTS DEVELOPMENT BANKS ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC THEORY ECONOMIES OF SCALE EMPLOYMENT EXOGENOUS VARIABLES FACTORING FEDERAL RESERVE SYSTEM FINANCIAL CONTRACTS FINANCIAL INSTITUTIONS FINANCIAL RATIOS FINANCIAL SERVICES FINANCIAL STRUCTURES FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FOREIGN BANKS FOREIGN INVESTMENT GDP GNP GOVERNMENT POLICIES GOVERNMENT SUBSIDIES IMPLICIT CONTRACT INEFFICIENCY INTEREST RATE INTEREST RATES INVENTORY LAWS LIQUIDATION LIQUIDATION VALUE MANDATES MARKET DISCIPLINE MARKET VALUE MERGERS MORAL HAZARD ORGANIZATIONAL FORM PREDICTIONS PRESENT VALUE PRICE DISCRIMINATION PROFITABILITY PROPERTY RIGHTS RELATIONSHIP LENDING SMALL BANKS SMALL BUSINESS STATE OWNERSHIP STATEMENT STATEMENTS SUBSIDIARY TAX RATE TRADE CREDIT TRADE CREDITORS TRANSITION ECONOMIES WORKING CAPITAL |
| author |
Berger, Allen N. Udell, Gregory F. |
| author_facet |
Berger, Allen N. Udell, Gregory F. |
| author_sort |
Berger, Allen N. |
| title |
A More Complete Conceptual Framework for Financing of Small and Medium Enterprises |
| title_short |
A More Complete Conceptual Framework for Financing of Small and Medium Enterprises |
| title_full |
A More Complete Conceptual Framework for Financing of Small and Medium Enterprises |
| title_fullStr |
A More Complete Conceptual Framework for Financing of Small and Medium Enterprises |
| title_full_unstemmed |
A More Complete Conceptual Framework for Financing of Small and Medium Enterprises |
| title_sort |
more complete conceptual framework for financing of small and medium enterprises |
| publisher |
World Bank, Washington, DC |
| publishDate |
2005-12 |
| url |
http://documents.worldbank.org/curated/en/2005/12/6474484/more-complete-conceptual-framework-financing-small-medium-enterprises https://hdl.handle.net/10986/8553 |
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1809105649101963264 |