TY - BOOK ID - 84655814 TI - SMEs’ Access to Finance in the Euro Area : What Helps or Hampers? AU - Öztürk, Bahar. AU - Mrkaic, Mico. AU - International Monetary Fund. PY - 2014 SN - 1484379675 1484379241 1484379713 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Corporations KW - Small business KW - Transmission mechanism (Monetary policy) KW - Monetary transmission mechanism KW - Monetary policy KW - Businesses, Small KW - Medium-sized business KW - Micro-businesses KW - Microbusinesses KW - Microenterprises KW - Small and medium-sized business KW - Small and medium-sized enterprises KW - Small businesses KW - SMEs (Small business) KW - Business KW - Business enterprises KW - Industries KW - Business corporations KW - C corporations KW - Corporations, Business KW - Corporations, Public KW - Limited companies KW - Publicly held corporations KW - Publicly traded corporations KW - Public limited companies KW - Stock corporations KW - Subchapter C corporations KW - Corporate power KW - Disincorporation KW - Stocks KW - Trusts, Industrial KW - Finance. KW - Size KW - Accounting KW - Banks and Banking KW - Financial Risk Management KW - Money and Monetary Policy KW - Industries: Financial Services KW - Financial Markets and the Macroeconomy KW - Money Supply KW - Credit KW - Money Multipliers KW - Financial Crises KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Public Administration KW - Public Sector Accounting and Audits KW - Monetary economics KW - Banking KW - Financial reporting, financial statements KW - Economic & financial crises & disasters KW - Finance KW - Bank credit KW - Financial statements KW - Financial crises KW - Money KW - Public financial management (PFM) KW - Credit default swap KW - Loans KW - Financial institutions KW - Banks and banking KW - Finance, Public KW - Spain UR - https://www.unicat.be/uniCat?func=search&query=sysid:84655814 AB - The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in bank funding costs and borrower leverage matter for firms’ access to finance. Increases in bank funding costs and borrowers’ debt-to-asset ratios are significantly and negatively associated with firms’ access to finance. The use of subsidies significantly improve access to finance of SMEs. Finally, access to finance is found to be positively related to firm size and firm age. ER -