Small-and medium-sized enterprises (SMEs) account for two-thirds of employment in the
euro area which makes them a priority for the transmission of monetary policy to the real …

It is suggested that trade credit can be a substitute for bank loans for small-and medium-
sized enterprises (SMEs) that have little access to external funding sources. Using unique …

This study investigates the impact of the ECB's Targeted Longer-Term Refinancing
Operations (TLTROs) on Italian provinces' economic development. The program provided …

The purpose of this study is to shed light on the chain of causality from macroeconomic
financial policy to the microeconomic investment function. Concretely, we aim to provide an …

We propose a simple idea that corporate debt maturity should serve as a good indicator of
future firm performance volatility. We show in a simple two-period model that the riskiness of …

This paper analyses the impact that firms' financial position has on investment decisions
using panel data from a large sample of non-financial corporations (around 120,000 firms) in …

We study the impacts of the use of trade credit on SME financial performance and
operational distress in a sample of 74,036 SMEs across 19 EU countries between 2006 and …

The purpose of this study is to analyze the financing behaviors of young and old small
knowledge-intensive service (SKIS) firms, giving particular attention to the relationship …

This paper provides empirical evidence on the credit channel of the monetary transmission
mechanism within the framework of external finance choices using a firm-level panel data …

This paper uses firm-level financial data for Czech firms in the period from 2003 to 2011 and
tests for the role of companies' financial structure in the transmission of monetary policy. Our …