HAL will be down for maintenance from Friday, June 10 at 4pm through Monday, June 13 at 9am. More information
Skip to Main content Skip to Navigation
Journal articles

How did export activity affect small business access to bank capitals during the global crisis?

Abstract : This article aims at studying the effect of export activity, viewed as a way of estimating small business internationalization, on access to bank capitals during the recent global crisis. The empirical analysis leads to several interesting results. In particular, the existence and intensity of exports are negatively related to bank capitals, demonstrating the difficulties of small businesses to rely on financial leverage when they wish to explore new markets. Conversely, indicators of solvency and liquidity are positively related to this same source of financing. They are more important than those of profitability and growth opportunities in explaining the financial leverage level, attesting the primary need of small businesses to provide sufficient guarantees when they wish to incur new bank loans in times of crisis. These findings may interest policy makers, financiers and researchers and contribute to enriching the debate on the relationship between small business internationalization and access to leverage.
Complete list of metadata

Contributor : Ramzi Benkraiem Connect in order to contact the contributor
Submitted on : Wednesday, April 9, 2014 - 10:32:15 AM
Last modification on : Saturday, February 28, 2015 - 1:12:24 AM


  • HAL Id : hal-00975784, version 1



Ramzi Benkraiem, Anthony Miloudi. How did export activity affect small business access to bank capitals during the global crisis?. Corporate Ownership & Control, 2014, 11 (2), pp.72-80. ⟨hal-00975784⟩



Record views