Titolo:  Corporate Bonds for SMEs: A Study of Italian Minibonds
Data di pubblicazione:  2017
Autori: 
Autori:  Aliano, Mauro; Malavasi, Roberto; Riccio, Giuseppe
Numero degli autori:  3
Lingua:  Inglese
Pagina iniziale:  257
Pagina finale:  285
Numero di pagine:  29
Digital Object Identifier (DOI):  10.1007/978-3-319-41363-1_10
Titolo del libro:  Access to Bank Credit and SME Financing
Editore:  Palgrave Macmillan Ltd
URL:  https://link.springer.com/chapter/10.1007/978-3-319-41363-1_10
ISBN:  978-3-319-41362-4
Abstract:  Starting in 2013, Italian small- and medium-sized enterprises (SMEs) can issue so-called ‘minibonds’. Such an instrument allows firms to diversify their funding sources, as they primarily rely on banking channels. By combining firm-level data gathered from Aida, supplied by Bureau van Dijk, with hand-collected data from specific firm reports, a quali-quantitative analysis is offered of firms issuing minibonds from January 2013 to June 2015. This study demonstrates that the observed firms differ, not only in operating conditions and issuance motivations, but also in their financial and economic characteristics. Finally, we offer some policy implications, aimed at improving the ability of such financial instruments to satisfy SMEs’ financial needs.
Parole chiave:  bond markets; firm financial structure
Revisione (peer review):  Esperti anonimi
Caratterizzazione prevalente:  scientifica
Rilevanza:  internazionale
Tipologia: 2.1 Contributo in volume (Capitolo o Saggio)

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