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...

Islamic economics prioritizes the real sector including SMEs, and makes Economic institutions as supporters drivers of sector. The market share sharia financial has reached 8.5 percent, will continue to grow develop. Since emergence corona virus outbreak, it eroded slowed down economic activity, in SMEs are among ones that have been significantly affected by virus. To restore activities Institu...

As a legal currency with the credit endorsement of Chinese government, DC/EP has many advantages and special characteristics. Based on application in financing small- medium-sized enterprises (SMEs), this paper studies optimal decisions SMEs under both traditional mode mode. Considering construction use costs role traceability improving mortgage rates, explores feasible range for to ...

The paper's objective is to provide a large sample evidence on small and medium enterprises' (SMEs) financing source diversification patterns. We use the World Bank Enterprise Survey (WBES) of SMEs from 135 developing emerging economies. find that extent significantly affected by firm-specific country-specific characteristics. Commonly, (unconstrained) specialise their in retained earnings. How...

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...

This paper analyses the role of banks in financing SMEs in Britain and Germany. It applies a sociological institutionalist approach to understand how banks construct and manage risk, relating to SME business. The empirical analysis is based on the results of a comparative survey of a sample of British and German banks and also refers to statistical material produced by the banks themselves. The...