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Access to Finance of Innovative SMEs

  • Valeria Venturelli
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)

Abstract

This chapter surveys the theoretical literature on the financial constraints affecting small and medium-sized enterprises (SMEs)1 and then briefly introduces the reasons supporting government intervention to sustain the companies most at risk of credit rationing: new firms and small firms with innovative business plans in the early stages of their development. The focus here is mainly on SMEs, although the financial constraints on innovative operations also affect larger firms (Hall, 2002; 2005).

Keywords

Venture Capital Information Asymmetry Moral Hazard Credit Rationing Innovative Firm 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Valeria Venturelli 2008

Authors and Affiliations

  • Valeria Venturelli

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