Using a proprietary quarterly database of lending decisions (N=3,687) from 3/31/2019 to 12/31/2020, for Small and Medium-sized Enterprises (SMEs), the paper investigates how the financial measures introduced by Law Decree No. 18 of 17 March 2020 in terms of moratorium of interest could have effectively slacked liquidity shortfalls during the COVID-19 outbreak. Findings suggest that a public measure of assessment works better in the case of low risk and large firms as well as in presence of personal guarantee and a strong relationship lending story.
PAOLA BRIGHI, SABRINA SEVERINI (2023). The COVID-19 loan moratorium and SMEs' liquidity shortfall. Londra : Routledge [10.4324/9781003310754-6].
The COVID-19 loan moratorium and SMEs' liquidity shortfall
PAOLA BRIGHI;
2023
Abstract
Using a proprietary quarterly database of lending decisions (N=3,687) from 3/31/2019 to 12/31/2020, for Small and Medium-sized Enterprises (SMEs), the paper investigates how the financial measures introduced by Law Decree No. 18 of 17 March 2020 in terms of moratorium of interest could have effectively slacked liquidity shortfalls during the COVID-19 outbreak. Findings suggest that a public measure of assessment works better in the case of low risk and large firms as well as in presence of personal guarantee and a strong relationship lending story.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
