Portal de Cartagena
www.portaldecartagena.com
The institutions that make up the legal, economic and financial system of a country influence access to finance for companies, but these are even more important when it comes to small and medium-sized enterprises (SMEs), as demonstrated by the thesis in the UPCT by Ana Mol.
The young doctor studied 25 European countries to know the effect of the institutions in the financing of SMEs.
In countries with less developed institutions, such as some Eastern European states, SMEs, among others, use sources of financing such as factoring or leasing to compensate for the lack of access to the bank loan.
"Granting a loan requires that the loans be protected, not all countries offer this protection.
Spain, for example, is not in a good position, "warns Ana Mol, who has just returned from a research stay in Poland.
The thesis also shows evidence of the influence of the structure of the banking system on the financing of these companies.
Mergers and acquisitions of financial institutions that have been taking place over the last few years can have important consequences for SMEs.
"The concentration of the banking system has advantages, it establishes closer relations between companies and banks, but to a certain extent.
A very small number of banks could cause the company to be trapped, running out of financing options. "
In addition, Mol remembers that "many companies are discouraged, they think that they are not going to obtain financing, reason why they do not ask for it".
This could be aggravated if finally the large banking groups resulting from this process of concentration do not maintain close relations with their companies.
Mol, a graduate in ADE and a Master's degree in Accounting and Corporate Finance (COFIC) from the UPCT, has combined some of her research training with a professional experience in one of the four most prestigious firms worldwide in the auditing sector.
Source: UPCT
Privacy policy
- Legal notice
- Cookies