Please use this identifier to cite or link to this item:
|Publication type:||Article in scientific journal|
|Type of review:||Peer review (publication)|
|Title:||Determinants and consequences of SME insolvency risk during the pandemic|
|Published in:||Economic Modelling|
|Publisher / Ed. Institution:||Elsevier|
|Subjects:||Access to finance; Innovation; Insolvency risk; Pandemic; SME|
|Subject (DDC):||332: Financial economics |
658.1: Organization and finance
|Abstract:||The COVID-19 pandemic posed an existential threat to European SMEs' financial resilience with significant consequences for the European economy. Using unique firm-level data on SME financing conditions, this paper proposes a new insolvency risk measure based on survey responses. We show that SME insolvency risk increased, on average, by approximately 21% during the pandemic. Problems with finding customers and the cost of production and labor contributed notably to SME insolvency risk during this period, and SMEs also saw deterioration in their access to finance. Innovation worked as a mitigating factor during the pandemic, and innovative SMEs were more resilient, maintained their client base, and saw favorable access to bank lending. Our results point out that SME innovation can prevent the number of insolvencies from rising significantly in the long term.|
|Fulltext version:||Published version|
|License (according to publishing contract):||CC BY 4.0: Attribution 4.0 International|
|Departement:||School of Management and Law|
|Organisational Unit:||Institute for Financial Management (IFI)|
|Appears in collections:||Publikationen School of Management and Law|
Files in This Item:
|2022_Kaya_Determinants-consequences-SME-insolvency-risk-during-pandemic_EconomicModelling.pdf||696.43 kB||Adobe PDF|
Show full item record
Kaya, O. (2022). Determinants and consequences of SME insolvency risk during the pandemic. Economic Modelling, 115(105958). https://doi.org/10.1016/j.econmod.2022.105958
Kaya, O. (2022) ‘Determinants and consequences of SME insolvency risk during the pandemic’, Economic Modelling, 115(105958). Available at: https://doi.org/10.1016/j.econmod.2022.105958.
O. Kaya, “Determinants and consequences of SME insolvency risk during the pandemic,” Economic Modelling, vol. 115, no. 105958, 2022, doi: 10.1016/j.econmod.2022.105958.
Kaya, Orcun. “Determinants and Consequences of SME Insolvency Risk during the Pandemic.” Economic Modelling, vol. 115, no. 105958, 2022, https://doi.org/10.1016/j.econmod.2022.105958.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.