Financing Gap for SMES and the Mezzanine Capital

Financing SMEs: a model for optimising the capital structure

This paper argues that the existing finance literature is inadequate with respect to its coverage of capital structure of small and medium sized enterprises (SMEs). In particular it is argued that the cost of equity (being both conceptually ill defined and empirically non quantifiable) is not applicable to the capital structure decisions for a large proportion of SMEs and the optimal capital st...

Securitisation of Mezzanine Capital in Germany

A recent trend in the German Asset Backed Securities (ABS) market is the securitisation of subordinated loans and profit participation agreements (PPAs) granted to medium-sized enterprises (MEs). This paper provides an overview of this growing market and analyses the benefits of such transactions for the portfolio companies as well as originators and potential investors. Simulations of ten rece...

The New Basel Capital Accord and Sme Financing the New Basel Capital Accord and Sme Financing Smes and the New Rating Culture

The Centre for European Policy Studies (CEPS) is an independent policy research institute in Brussels. Its mission is to produce sound policy research leading to constructive solutions to the challenges facing Europe. As a research institute, CEPS takes no position on matters of policy. The views expressed are entirely those of the author. Acknowledgments: The author would like to thank Els Des...

Hospital financing through the capital market; Explain the underlying factors in financing policy and its ordering

Background: Hospital, as the largest and most important health system unit, has the highest costs. Governments cannot finance all of the costs of this sector, so reforms are inevitable. In this regard, researchers have explained the underlying factors in financing policy and its commanding. Materials & Methods: This study is a descriptive study done by qualitatively and quantitatively method i...

New Perspectives on Financing Small Cap Sme’s in Emerging Markets the Case for Mezzanine Finance