The Effects of Policy Funds on the Investment and Management Stabilization Financing of Small- and Medium-sized Enterprises

被引：0
|
作者：
Chung, Jinhwa [1 ]
Kim, Bohyun [2 ]
Moon, Seongman [3 ]
机构：
[1] Keimyung Univ, Dept Econ & Finance, Daegu, South Korea
[2] Bank Korea, Dept Informat Technol, Seoul, South Korea
[3] Jeonbuk Natl Univ, Dept Econ, Jeonju, South Korea
来源：
EAST ASIAN ECONOMIC REVIEW | 2023年 / 27卷 / 04期
关键词：
Policy Funds; SMEs; Investment; Management Stability; CONSTRAINTS; COST;
D O I：
10.11644/KIEP.EAER.2023.27.4.428
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study empirically examines the impacts of policy funds from three different aspects using data on Daegu city's local government loans. First, we estimate the influence of policy funds on mitigating financial constraints affecting the investment decisions of Small- and Medium-sized Enterprises (SMEs), yielding inconclusive results indicating no significant discernible effects of policy funds. Second, we scrutinize the ramifications of policy funds on enterprise's management stability, revealing that these funds contribute to stabilizing the operations of small-scale enterprises. Third, we explore whether policy funds engender an unintended consequence of bolstering distressed enterprises, presenting empirical evidence that suggests a delayed exit of such enterprises.
引用
收藏
页码：347 / 376
页数：30
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