O financiamento das pequenas empresas e o desequilibrio territorial rural-urbanoo caso da provincia da Coruña

  1. Peón Pose, David 1
  2. Martínez Filgueira, Xose Manuel
  1. 1 Universidade da Coruña
    info

    Universidade da Coruña

    La Coruña, España

    ROR https://ror.org/01qckj285

Journal:
Semata: Ciencias sociais e humanidades

ISSN: 1137-9669,  2255-5978

Year of publication: 2018

Issue Title: Bioeconomía y Memoria Ecológica de los Territorios: Transdisciplinariedad para un Futuro Sostenible

Issue: 30

Pages: 293-317

Type: Article

DOI: 10.15304/S.30.5372 DIALNET GOOGLE SCHOLAR lock_openOpen access editor

More publications in: Semata: Ciencias sociais e humanidades

Sustainable development goals

Abstract

Tras a crise financeira, a reordenación do mapa bancario e consecuente perda de entidades financeiras propias, cuestionámonos se a problemática de acceso a crédito bancario pode ser máis acusada para as PEMEs galegas en entornas rurais. O obxectivo da investigación é o estudo do crédito comercial como alternativa ao crédito bancario, o diagnóstico das dificultades de acceso a financiamento e a súa relación cos desequilibrios territoriais rural-urbano.Os resultados son aínda preliminares, pola necesidade de refinar os datos de acceso a financiamento das empresas e as escollas de tipo econométrico. Con todo, tomando unha mostra de empresas industriais da provincia da Coruña, compróbase que os volumes de crédito comercial son relativamente baixos no contexto europeo, e as empresas que operan no rural conceden menos crédito comercial que as urbanas. Ademais, fináncianse máis vía provedores – coherente coa hipótese de contar con peor acceso a crédito bancario – mais o efecto non é significativo para as empresas independentes.

Bibliographic References

  • Barbut, L. (2009). L’évaluation ex post du PDRN: un regard instructif sur le passé pour améliorer l’avenir. Notes et Études Socio-économiques n° 33, 7-39.
  • Biais, B., Gollier, C. (1997). Trade credit and credit rationing. Review of Financial Studies 10(4), 903-937.
  • Burkart, M., Ellingsen, T. (2004). In-Kind Finance: A Theory of Trade Credit. The American Economic Review 94(3), 569-590.
  • Cassia, L., Vismara, S. (2009). Firms’ trade credit and the local level of development of the banking system in Europe. Investment Management and Financial Innovations 6(4), 46-58.
  • Cork (2016). The Cork 2.0 Declaration 2016. Cork 2.0: European Conference on Rural Development, 5th September 2016, Cork. Available at: http://ec.europa.eu/agriculture/events/rural-development-2016_en.htm
  • Danielson, M.G., Scott, J.A. (2004). Bank loan availability and trade credit demand. Financial Review 39(4), 579–600.
  • Deloof, M., La Rocca, M. (2014). Local financial development and the trade credit policy of Italian SMEs. Small Business Economics 44, 905-924.
  • Emery, G. (1987). An optimal financial response to variable demand, Journal of Financial and Quantitative Analysis 22, 209-225.
  • Fernández, M., Peón, D. (2017). Desafíos dunha sociedade avellentada e en declive: Desequilibrios territoriais e prestación de servizos. Foro Económico de Galicia, Documento 20/2017. Available at http://www.foroeconomicodegalicia.es/informes/ documentos/
  • Ferris J.S. (1981). A transactions theory of trade credit use. Quarterly Journal of Economics 94, 243–270.
  • Garcia-Appendini, E., Montoriol-Garriga, J. (2013). Firms as liquidity providers: Evidence from the 2007-2008 financial crisis. Journal of Financial Economics 109(1), 272-291.
  • García-Teruel, P., Martínez-Solano, P. (2010). Determinants of trade credit: A Comparative study of European SMEs, International Small Business Journal 28(3), 215-233.
  • García-Teruel, P., Martínez-Solano, P. (2010b). A dynamic perspective on the determinants of accounts payable. Review of Quantitative Finance and Accounting 34(4), 439-457.
  • Gustafson, C.R. (2005). Rural small business trade credit: A paradox. Agricultural Finance Review 65(1), 45-57.
  • Harhoff, D., Körting, T. (1998). Lending relationships in Germany – empirical evidence from survey data. Journal of Banking and Finance 22, 1317–53.
  • Huang, H., Shi, X., Zhang, S. (2011). Counter-cyclical substitution between trade credit and bank credit. Journal of Banking and Finance 35, 1859-78.
  • IGE (2016). Clasificación das parroquias e concellos galegos segundo o grao de urbanización (GU 2016). Instituto Galego de Estatística. http://www.ige.eu/estatico/pdfs/ s3/clasificacions/urbanizacion/MetodoloxiaGU2016Concellos.pdf
  • López Iglesias, E. (2013). A gobernanza e xestión do medio rural galego a comezos do século XXI: Reflexións e propostas para o debate, En R. Rodríguez González (coord.): Galicia, un mundo rural Vivo. UIMP – Concello de Lalín, Pontevedra. 130-147.
  • McGuinness, G., Hogan, T. (2016). Bank credit and trade credit: Evidence from SMEs over the financial crisis. International Small Business Journal 34(4), 412-445.
  • Milder, B. (2008). Closing the gap: Reaching the missing middle and rural poor through value chain finance. Enterprise Development and Microfinance 19(4), 301-316.
  • Morris, J.R. (1976). On the corporate debt maturity strategies. Journal of Finance 31, 29–37.
  • Ng, C.K., Smith, J.K., Smith, R.L. (1999). Evidence on the Determinants of Credit Terms Used in Interfirm Trade. The Journal of Finance 54(3), 1109-1129.
  • Niskanen, J., Niskanen, M. (2006). The determinants of corporate trade credit policies in a bank-dominated financial environment: The case of finnish small firms. European Financial Management 12(1), 81–102.
  • Petersen, M., Rajan, R. (1995). The effect of credit market competition on lending relationships. Quarterly Journal of Economics, 407–33.
  • Petersen, M.A., Rajan, R.G. (1997). Trade credit: Theories and evidence. Review of Financial Studies 10, 661-691.
  • Pike, R., Cheng N.S., Cravens K., et al. (2005). Trade credits terms: asymmetric information and price discrimination evidence from three continents. Journal of Business, Finance and Accounting 32, 1197–1236.
  • Porter, M.E. (1979). How competitive forces shape strategy. Harvard Business Review.
  • Psillaki, M., Eleftheriou, K. (2015). Trade Credit, Bank Credit, and Flight to Quality: Evidence from French SMEs. Journal of Small Business Management 53(4), 1219– 1240.
  • Schwartz, R.A. (1974). An economic model of trade credit. Journal of Financial and Quantitative and Financial Analysis 9, 643-657.
  • Smith, J.K. (1987). Trade credit and informational asymmetry. Journal of Finance 42, 863–872.
  • Sun, J., Hu, H. (2013). Trade credit and productivity: evidence from China’s ethnic areas. Journal of Chinese Economic and Business Studies 11(4), 279-297.
  • Yano, G., Shiraishi, M. (2011). Efficiency of trade credit finance in China. Comparative Economic Studies 54(1), 203-225.
Data source: Dialnet