European SME Financing: An Overview

European SME Financing: An Overview European SME Financing: Robert Cressy An Overview Christer Olofsson This Special Issue constitutes an edited selection current size is of course one of evolution rather from the papers of a conference Financing SMEs, than scaling, and this process of evolution will sponsored by Sweden’s NUTEK and held in involve major changes in management structure Brussels in September 1995. The conference and functioning, in particular in the methods by program was structured to include a significant which the business is financed (Penrose, 1959). proportion of the papers by policy-makers from The simplest and most readily available represen- both the public and the private sectors, the tation of a firm’s finances is to be found in the remainder to be contributed by the academics. firm’s accounts data. Hughes’ excellent scene- Some 50 participants from seven European coun- setting paper in this Issue begins with an analysis tries attended over a two day period and 14 papers of a large U.K. sample of small business accounts. were presented. The purpose of the present volume He shows that, as predicted, there are indeed major is to present an edited selection of the more differences in account structure between small and academically oriented papers Small Business Economics Springer Journals

European SME Financing: An Overview

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Kluwer Academic Publishers
Copyright © 1997 by Kluwer Academic Publishers
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
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