Small business financing in the UK before and during the current financial crisis

By Marc Cowling, Weixi Liu, Andrew Ledger. 2012

346 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/d181e0449f56a295b62a42fdf4d9fb0e0912f7cb

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Citations in the corpus

Bank credit and trade credit: Evidence from SMEs over the financial crisis (2016, neutral): “…needs (Berger and Udell, 1998; Petersen and Rajan, 1997), (b) have less potential to access external financing sources (Berger and Udell, 1998; Cowling et al., 2012; Rodriguez-Rodriguez, 2006), (c) are more likely to be adversely affected by asymmetric information and financing constraints…”
What really happens to small and medium-sized enterprises in a global economic recession? UK evidence on sales and job dynamics (2015, neutral): “…can be undermined during economic downturns (e.g. Hilmersson, 2013) and since the outburst of the current financial crisis, there have been some timely studies investigating the impact one of the severest recessions has on the SME sector (e.g. Cowling et al., 2012; Smallbone et al., 2012a).”
Special issue on entrepreneurship and crises: business as usual? An introduction and review of the literature (2018, background): “…the area of entrepreneurship specifically, crisis-based research has typically centred around external, extreme major crisis situations, particularly the economically-oriented (e.g., Williams and Vorley 2015; Smallbone et al. 2012; Cowling, Liu, and Ledger 2012; Parker, Congregado, and Golpe 2012).”
Funding the growth of UK technology-based small firms since the financial crash: are there breakages in the finance escalator? (2013, background): “Other recent research has also suggested that the difficulties in obtaining debt finance may lead more small firms to seek external equity funding if they are not prepared to abandon their investment projects altogether (Cowling, Liu, and Ledger 2012).”
Small and medium-sized enterprise internationalisation strategy and performance in times of market turbulence (2014, methodology): “Prior to this study, empirical evidence suggested (Eurofound, 2011; Wymenga et al., 2011) that SMEs were affected heavily by the global recession and have adapted their behaviour (Barron et al., 2010; Cowling et al., 2012; Smallbone et al., 2012).”
The cost of growth: small firms and the pricing of bank loans (2015, neutral): “In the recessionary period, the most significant factor affecting the loan appraisal decision was the size of businesses, with growth orientation apparently ignored in the process of decision-making (Cowling et al. 2012).”
The moderating influence of financial literacy on the relationship between access to finance and firm growth in Ghana (2016, background): “Indeed, the aftermath of the financial crisis has led to a significant decline in both debt and equity finance flows to SMEs (Cowling, Liu, and Ledger 2012; Fraser, Bhaumik, and Wright 2015), and recent studies have called for financial inclusion of entrepreneurs (Helfat et al. 2007; Lusardi 2012).”
Financial Constraints and Small and Medium Enterprises: A Review* (2020, positive): “Cowling et al. (2012) provide supporting evidence by constructing a UK longitudinal SME data source running from the pre-recession (2007/2008) through the post-recession years (2008/2010).”
Access to finance for innovative SMEs since the financial crisis (2015, background): “In the recession, older firms found it easier to access credit, although this was sometimes due to their larger size (Cowling et al., 2012).”
What do we know about entrepreneurial finance and its relationship with growth? (2015, background): “Following the financial crisis, many economies have seen a significant decline in both debt and equity finance flows to small and medium-sized enterprises (SMEs) (Cowling et al., 2012) and with an associated negative impact on firm performance (Cowling et al., 2014).”
Did firm age, experience, and access to finance count? SME performance after the global financial crisis (2018, background): “This equates to around three years of post-war trend level economic growth for the UK economy (Cowling et al, 2012).”