SME Finance and the Economic Crisis: The Case of Greece, 1st Edition (Hardback) book cover

SME Finance and the Economic Crisis

The Case of Greece, 1st Edition

By Alina Hyz

Routledge

152 pages | 29 B/W Illus.

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Hardback: 9781138388123
pub: 2019-06-20
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Description

This book analyses the financing problems of Greek small and medium-sized enterprises (SMEs), within a liberalized financial system and within an economic environment of fiscal and monetary constraints. Using recent data covering a ten-year period, the main aim of the research is to explain the interdependence between the situation of the banking sector generally and that of small and medium enterprises.

The author argues that the reluctance of banks to lend to Greek companies because of the strict financing constraints, due to the national debt crisis, serves to exacerbate the cycle of economic recession. This factor seriously undermines the efforts of Greek companies to develop growth opportunities, and negatively affects their competitiveness as well as their ability to strengthen their market position. The author examines the supply and demand aspect of the problem: there is lower demand for lending due to the decline of demand for goods and services as well as a tightening of banks’credit standards, whilst on the supply side, the deteriorating financial situation of banks and their willingness to avoid increasing risk are important contributing factors. Finally, the author presents the main conclusions of the analyses carried out in the previous sections of the book and discusses some relevant recommendations for future research.

Building on the extant literature, this book analyses the problem from the point of view of both businesses and the banking sector. The study is useful for scholars, businesses and policy decision makers who are interested in the problem of small and medium-sized enterprises financing.

Table of Contents

Chapter 1. Sources of Business' Capital Chapter 2. Small and Medium Enterprises in Greece Chapter 3. Why is bank lending so important in Greece? Chapter 4. State of Greek banking sector: supply-side Chapter 5. State of the business economy: profitability and dependence on debt Chapter 6. Recommendations and Conclusions

About the Author

Alina Hyz, Ph.D., is a Professor of Business Administration at the Department of Accounting and Finance, University of West Attica, Athens, Greece. Her research interests are focused on Business Analysis, Strategy Development, Budgeting and Finance.

About the Series

Routledge Studies in the European Economy

Routledge Studies in the European Economy is our home for cutting-edge, upper-level scholarly studies and edited collections. Featuring compact and well researched volumes of 150 to 300 pages, the series provides a range of content considering the European economy alongside history, politics, cultural studies, agriculture, education, globalisation, and other subjects, titles are characterized by dynamic interventions into established subjects and innovative studies on emerging topics.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS001010
BUSINESS & ECONOMICS / Accounting / Financial
BUS004000
BUSINESS & ECONOMICS / Banks & Banking
BUS017010
BUSINESS & ECONOMICS / Corporate Finance / Private Equity
BUS017030
BUSINESS & ECONOMICS / Corporate Finance / Venture Capital
BUS025000
BUSINESS & ECONOMICS / Entrepreneurship
BUS027000
BUSINESS & ECONOMICS / Finance
BUS045000
BUSINESS & ECONOMICS / Money & Monetary Policy
BUS048000
BUSINESS & ECONOMICS / New Business Enterprises
BUS060000
BUSINESS & ECONOMICS / Small Business
BUS104000
BUSINESS & ECONOMICS / Corporate Governance