CXO

The Dynamics Of Enterprise Financing In New EU Member States In Comparative Perspective: The Aftermath Of The Crisis

Date Added: Sep 2010
Format: PDF

This paper employs Enterprise Survey data to analyze business environment constraints and financing sources for investment for Romanian and Bulgarian companies at the end of 2009 and investigates the change in financing sources after the global financial crisis relative to a pre-crisis period (2005). The paper also investigates whether the ownership structure of a firm affects its ability to finance investment and obtain capital. It is found that Romanian enterprises are generally more confronted with business constraints than Bulgarian companies and that the three main areas of concern for Romanian enterprises are tax rates, workforce education and access to finance.