http://repub.eur.nl/res/concept/jel-E51/ Recent publications classified by JEL Code E51 en http://repub.eur.nl/static-eur/img/logo.png http://repub.eur.nl http://repub.eur.nl/res/pub/17699/ 2012-10-29T00:00:00Z The promotion and support of small and medium-sized enterprises (SMEs) forms an essential ingredient of the policies designed to help improve Europe’s economic performance. A key issue is whether SMEs face difficulty obtaining bank loans. Using pre-crisis survey data from 2005 and 2006 for nearly 3,500 SMEs (firms with fewer than 250 employees) in the European Union (EU), we investigate the determinants of perceived bank loan accessibility at the firm level and at the country level. Based on hierarchical (multi-level) binomial logit regressions, our findings show that the youngest and smallest SMEs have the worst perceptions regarding access to bank loans. The SMEs in nations with concentrated banking sectors are more positive about loan accessibility. In addition, a high fraction of foreign-owned banks is associated with improved perceptions regarding loan accessibility in the EU 15 but not in the EU 10. Canton, E.J.F. Grilo, I. Monteagudo, J. Zwan, P.W. van der http://repub.eur.nl/res/pub/37871/ 2012-10-25T00:00:00Z The promotion and support of small and medium-sized enterprises (SMEs) is an essential component of policies designed to help improve Europe's economic performance. A crucial issue is whether SMEs face difficulty obtaining bank loans. Using pre-crisis survey data from 2005 and 2006 for nearly 3,500 SMEs (firms with fewer than 250 employees) in the European Union (EU), we investigate the determinants of perceived bank loan accessibility at the firm level and at the country level. Based on hierarchical (multi-level) binomial logit regressions, our findings show that the youngest and smallest SMEs have the worst perception of access to bank loans. The SMEs in nations with concentrated banking sectors are more positive about loan accessibility. In addition, a high fraction of foreign-owned banks is associated with improved perception of loan accessibility in the EU 15 but not in the EU 10. Canton, E.J.F. Grilo, I. Monteagudo, J. Zwan, P.W. van der http://repub.eur.nl/res/pub/8013/ 2006-10-03T00:00:00Z Theory predicts that dismissing the 1 and 2 euro cent coins from the denominational range of the euro leads to more payment efficiency. To examine whether this theory holds true in practice, we collected data for the Netherlands before and after September 1 2004, which marks the day that retail stores were allowed to round all amounts at 5 euro cents. The data consist of wallet contents for three cross sections of individuals. We propose a multivariate Poisson- log Normal model to analyze these data. We find that rounding leads to less 1 and 2 cent coins in wallets, but that still other coins are over or underrepresented, thereby suggesting that the euro range does not yet lead to fully efficient payment behavior. Bijwaard, G.E. Franses, Ph.H.B.F. http://repub.eur.nl/res/pub/81/ 2001-03-22T00:00:00Z The banks in the Dutch chipcard market initially agreed on one chipcard system. One system is attractive for companies as well as consumers. Companies, banks and retailers, prevent costs of duplication, while consumers enjoy the benefits of a widespread acceptance of one card and do not face uncertainty regarding the chipcard standard. Two standards could harm the development of the chipcard market. However, one bank withdrew from the initial agreement and introduced its own chipcard system in December 1995. This has resulted in a costly battle between the two banking chipcard standards, duplication costs for retailers, the introduction of a gateway technology in order to establish compatibility for users, and low market acceptance of the chipcards. March 2001, after a struggle of more than five years, the banks decided to return to one chipcard. The rationality of the decision to withdraw, despite the prospect that everybody may be worse off, will be analyzed from the perspective of game theory and the theory regarding standards battles. Vries, H.J. de Hendrikse, G.W.J.