Access to bank credit and SME financing
Following the global financial crisis, liquidity shortage and heavy restrictions in bank financing worsened the conditions of the credit market. Under such circumstances, easy access to formal credit by small- and medium-sized enterprises (SMEs) becomes even more crucial to the survival of their businesses. Several critical points such as the structure of the market, the social and institutional-legal context, the gender discrimination have been widely recognized in the literature to have a role in affecting the access to formal credit for the SMEs. To discuss these issues, this workshop collects contributions from leading scholars in the field.
The workshop, hosted as a satellite meeting of the 10th scientific conference of Cladag, is an outcome of the second year of the research project “The Global Financial crisis and the credit crunch – Policy implications”, sponsored by the Autonomous Region of Sardinia, Legge Regionale 2007, N. 7 [Grant Number CRP-59890, year 2012].
Scientific committee: Stefania P.S. Rossi (University of Cagliari), Roberto Malavasi (University of Cagliari) and Danilo V. Mascia (University of Cagliari)
10th October 2015
Program
08:30-09:30 – Access to Bank Credit and SME Financing – Part 1
Chair: Stefania P.S. Rossi
“Sovereign stress, unconventional monetary policy, and SME access to finance”
Annalisa Ferrando, Principal Economist, European Central Bank (ECB)
Alexander Popov, Economist, European Central Bank (ECB)
Gregory F. Udell, Professor of Finance and Chase Chair of Banking and Finance, Indiana University, Bloomington (Indiana – USA)
“Creditor protection, judicial enforcement and credit access”
Andrea Moro, Senior Lecturer in Finance, Cranfield University (United Kingdom)
Daniela Maresch, Assistant Professor, Johannes Kepler University, Linz (Austria)
Annalisa Ferrando, Principal Economist, European Central Bank (ECB)
09:30-10:45 – Access to Bank Credit and SME Financing – Part 2
Chair: Stefania P.S. Rossi
“Sources of the small firm financing premium: European evidence”
Fergal McCann, Senior Economist, Central Bank of Ireland, Dublin (Ireland)
Sarah Holton, Economist, European Central Bank (ECB)
“Credit access for female firms: evidence from a survey on European SMEs”
Valerio Vacca, Economist, Bank of Italy, Rome (Italy)
Maria Lucia Stefani, Economist, Bank of Italy, Trento (Italy)
“Bank financing and gender discrimination: some empirical evidence on European SMEs”
Stefania P.S. Rossi, Professor of Economics, University of Cagliari (Italy)
Emma Galli, Professor of Public Finance, Sapienza University of Rome (Italy)
Danilo V. Mascia, Research Fellow, University of Cagliari (Italy)
10:45-11:15 – Coffee break
11:15-12:15 – Access to Bank Credit and SME Financing – Part 3
Chair: Roberto Malavasi
“SMEs sources of funds: more capital or more debt to sustain growth? An empirical analysis”
Marina Brogi, Professor of Capital Markets, Sapienza University of Rome (Italy)
“Asset correlations and SME credit access”
Giampaolo Gabbi, Professor of Banking and Finance, University of Siena and SDA Bocconi (Italy)
Pietro Vozzella, Research Fellow, University of Siena (Italy)
“Credit supply and bank interest rates in the Italian Regions”
Roberto Malavasi, Chair of Financial Markets and Institutions, University of Cagliari (Italy)
Mauro Aliano, Assistant Professor, University of Cagliari (Italy)