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The Financial Structure of Small and Medium Firms and the Impact on the Cost of Capital

In: Estimating SMEs Cost of Equity Using a Value at Risk Approach

Author

Listed:
  • Federico Beltrame

    (University of Udine)

  • Roberto Cappelletto

    (University of Udine)

  • Gabriele Toniolo

Abstract

This chapter examines the main critical aspects relevant to financing small and medium-sized enterprises (SMEs). Consolidated scholarship fully identifies the implicit constraints to SME financing. Such academic research is extremely interesting, as it explores links with the theory of market imperfections. More specifically, some scholarship of greater significance highlights the effects of the asymmetrical distribution of information on the conditions of financing SMEs and the conditions that can lead to credit rationing. In the case in point, the research identifies orders of priority in choosing preferred sources of financing.

Suggested Citation

  • Federico Beltrame & Roberto Cappelletto & Gabriele Toniolo, 2014. "The Financial Structure of Small and Medium Firms and the Impact on the Cost of Capital," Palgrave Macmillan Books, in: Estimating SMEs Cost of Equity Using a Value at Risk Approach, chapter 1, pages 6-30, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-38930-5_2
    DOI: 10.1057/9781137389305_2
    as

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