Firm financing in India: recent risks and patterns
"Using balance sheet information for nearly 6,000 firms between 1994-2003, Love and Martinez Peria investigate recent firm financing patterns in India. They document the overall use of debt and, in particular, the role of bank financing (short-term and long-term), trade credit, intra-business g...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
[2005]
|
| Schriftenreihe: | Policy research working paper
3476 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 FHI01 HTW01 IOS01 Volltext |
| Zusammenfassung: | "Using balance sheet information for nearly 6,000 firms between 1994-2003, Love and Martinez Peria investigate recent firm financing patterns in India. They document the overall use of debt and, in particular, the role of bank financing (short-term and long-term), trade credit, intra-business group borrowing, and foreign financing. The authors examine financing patterns over time and explore differences across firms by sector, age, ownership type, export orientation, and, in particular, size. In terms of trends, they find that while debt to asset ratios have been relatively stable, nominal debt growth has slowed down in recent years. At the same time, firms' repayment capacity, as measured by the interest coverage ratio, has exhibited a U-shaped pattern falling during 1997-99 and recovering in recent years. Throughout the period of study, bank financing as a share of total debt has increased, while borrowing from nonbank financial institutions fell sharply. In terms of differences across firms, the most robust finding is that debt levels increase with firm size. Smaller firms have especially less debt relative to larger firms if they are young (below 10 years since incorporation), if they are in the manufacturing sector, and if they are located in Southern India. Furthermore, while the ratio of debt to assets has been relatively stable for large firms, the authors observe a significant decline for smaller firms. Overall, the findings presented provide suggestive (but not definite) evidence of stronger credit constraints for smaller firms. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the department to study access to finance"--World Bank web site |
| Beschreibung: | Includes bibliographical references Title from PDF file as viewed on 1/10/2005 |
| Beschreibung: | 1 Online-Ressource |
Internformat
MARC
| LEADER | 00000nmm a22000001cb4500 | ||
|---|---|---|---|
| 001 | BV049075148 | ||
| 003 | DE-604 | ||
| 005 | 20240416 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 230731s2005 xxu|||| o||u| ||||||eng d | ||
| 035 | |a (ZDB-1-WBA)093220286 | ||
| 035 | |a (OCoLC)1392152948 | ||
| 035 | |a (DE-599)GBVNLM005456436 | ||
| 040 | |a DE-604 |b ger | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-12 |a DE-521 |a DE-573 |a DE-523 |a DE-Re13 | ||
| 100 | 1 | |a Love, Inessa |e Verfasser |0 (DE-588)131389327 |4 aut | |
| 245 | 1 | 0 | |a Firm financing in India |b recent risks and patterns |c Inessa Love and Maria Soledad Martinez Peria |
| 264 | 1 | |a [Washington, D.C] |b World Bank |c [2005] | |
| 300 | |a 1 Online-Ressource | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a Policy research working paper |v 3476 | |
| 500 | |a Includes bibliographical references | ||
| 500 | |a Title from PDF file as viewed on 1/10/2005 | ||
| 520 | 3 | |a "Using balance sheet information for nearly 6,000 firms between 1994-2003, Love and Martinez Peria investigate recent firm financing patterns in India. They document the overall use of debt and, in particular, the role of bank financing (short-term and long-term), trade credit, intra-business group borrowing, and foreign financing. The authors examine financing patterns over time and explore differences across firms by sector, age, ownership type, export orientation, and, in particular, size. In terms of trends, they find that while debt to asset ratios have been relatively stable, nominal debt growth has slowed down in recent years. At the same time, firms' repayment capacity, as measured by the interest coverage ratio, has exhibited a U-shaped pattern falling during 1997-99 and recovering in recent years. Throughout the period of study, bank financing as a share of total debt has increased, while borrowing from nonbank financial institutions fell sharply. In terms of differences across firms, the most robust finding is that debt levels increase with firm size. Smaller firms have especially less debt relative to larger firms if they are young (below 10 years since incorporation), if they are in the manufacturing sector, and if they are located in Southern India. Furthermore, while the ratio of debt to assets has been relatively stable for large firms, the authors observe a significant decline for smaller firms. Overall, the findings presented provide suggestive (but not definite) evidence of stronger credit constraints for smaller firms. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the department to study access to finance"--World Bank web site | |
| 533 | |a Online-Ausg |n Also available in print | ||
| 650 | 4 | |a Business enterprises |z India |x Finance | |
| 700 | 1 | |a Martínez Pería, María Soledad |d 1970- |e Sonstige |0 (DE-588)138926514 |4 oth | |
| 710 | 2 | |a World Bank |e Sonstige |4 oth | |
| 776 | 0 | 8 | |i Love, Inessa |a Firm financing in India |
| 856 | 4 | 0 | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 |x Verlag |z URL des Erstveröffentlichers |3 Volltext |
| 912 | |a ZDB-1-WBA | ||
| 999 | |a oai:aleph.bib-bvb.de:BVB01-034337039 | ||
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 |l BSB01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 |l EUV01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 |l FHI01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 |l HTW01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 |l IOS01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
Datensatz im Suchindex
| _version_ | 1804185393886658560 |
|---|---|
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Love, Inessa |
| author_GND | (DE-588)131389327 (DE-588)138926514 |
| author_facet | Love, Inessa |
| author_role | aut |
| author_sort | Love, Inessa |
| author_variant | i l il |
| building | Verbundindex |
| bvnumber | BV049075148 |
| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)093220286 (OCoLC)1392152948 (DE-599)GBVNLM005456436 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>03825nmm a22004571cb4500</leader><controlfield tag="001">BV049075148</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20240416 </controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">230731s2005 xxu|||| o||u| ||||||eng d</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-WBA)093220286</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1392152948</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBVNLM005456436</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-523</subfield><subfield code="a">DE-Re13</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Love, Inessa</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)131389327</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Firm financing in India</subfield><subfield code="b">recent risks and patterns</subfield><subfield code="c">Inessa Love and Maria Soledad Martinez Peria</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">[Washington, D.C]</subfield><subfield code="b">World Bank</subfield><subfield code="c">[2005]</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">Policy research working paper</subfield><subfield code="v">3476</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Title from PDF file as viewed on 1/10/2005</subfield></datafield><datafield tag="520" ind1="3" ind2=" "><subfield code="a">"Using balance sheet information for nearly 6,000 firms between 1994-2003, Love and Martinez Peria investigate recent firm financing patterns in India. They document the overall use of debt and, in particular, the role of bank financing (short-term and long-term), trade credit, intra-business group borrowing, and foreign financing. The authors examine financing patterns over time and explore differences across firms by sector, age, ownership type, export orientation, and, in particular, size. In terms of trends, they find that while debt to asset ratios have been relatively stable, nominal debt growth has slowed down in recent years. At the same time, firms' repayment capacity, as measured by the interest coverage ratio, has exhibited a U-shaped pattern falling during 1997-99 and recovering in recent years. Throughout the period of study, bank financing as a share of total debt has increased, while borrowing from nonbank financial institutions fell sharply. In terms of differences across firms, the most robust finding is that debt levels increase with firm size. Smaller firms have especially less debt relative to larger firms if they are young (below 10 years since incorporation), if they are in the manufacturing sector, and if they are located in Southern India. Furthermore, while the ratio of debt to assets has been relatively stable for large firms, the authors observe a significant decline for smaller firms. Overall, the findings presented provide suggestive (but not definite) evidence of stronger credit constraints for smaller firms. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the department to study access to finance"--World Bank web site</subfield></datafield><datafield tag="533" ind1=" " ind2=" "><subfield code="a">Online-Ausg</subfield><subfield code="n">Also available in print</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Business enterprises</subfield><subfield code="z">India</subfield><subfield code="x">Finance</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Martínez Pería, María Soledad</subfield><subfield code="d">1970-</subfield><subfield code="e">Sonstige</subfield><subfield code="0">(DE-588)138926514</subfield><subfield code="4">oth</subfield></datafield><datafield tag="710" ind1="2" ind2=" "><subfield code="a">World Bank</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Love, Inessa</subfield><subfield code="a">Firm financing in India</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476</subfield><subfield code="x">Verlag</subfield><subfield code="z">URL des Erstveröffentlichers</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-WBA</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-034337039</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476</subfield><subfield code="l">BSB01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476</subfield><subfield code="l">EUV01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476</subfield><subfield code="l">FHI01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476</subfield><subfield code="l">HTW01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476</subfield><subfield code="l">IOS01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| id | DE-604.BV049075148 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:27:48Z |
| indexdate | 2024-07-10T09:54:32Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-034337039 |
| oclc_num | 1392152948 |
| open_access_boolean | |
| owner | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR |
| owner_facet | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR |
| physical | 1 Online-Ressource |
| psigel | ZDB-1-WBA |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | World Bank |
| record_format | marc |
| series2 | Policy research working paper |
| spelling | Love, Inessa Verfasser (DE-588)131389327 aut Firm financing in India recent risks and patterns Inessa Love and Maria Soledad Martinez Peria [Washington, D.C] World Bank [2005] 1 Online-Ressource txt rdacontent c rdamedia cr rdacarrier Policy research working paper 3476 Includes bibliographical references Title from PDF file as viewed on 1/10/2005 "Using balance sheet information for nearly 6,000 firms between 1994-2003, Love and Martinez Peria investigate recent firm financing patterns in India. They document the overall use of debt and, in particular, the role of bank financing (short-term and long-term), trade credit, intra-business group borrowing, and foreign financing. The authors examine financing patterns over time and explore differences across firms by sector, age, ownership type, export orientation, and, in particular, size. In terms of trends, they find that while debt to asset ratios have been relatively stable, nominal debt growth has slowed down in recent years. At the same time, firms' repayment capacity, as measured by the interest coverage ratio, has exhibited a U-shaped pattern falling during 1997-99 and recovering in recent years. Throughout the period of study, bank financing as a share of total debt has increased, while borrowing from nonbank financial institutions fell sharply. In terms of differences across firms, the most robust finding is that debt levels increase with firm size. Smaller firms have especially less debt relative to larger firms if they are young (below 10 years since incorporation), if they are in the manufacturing sector, and if they are located in Southern India. Furthermore, while the ratio of debt to assets has been relatively stable for large firms, the authors observe a significant decline for smaller firms. Overall, the findings presented provide suggestive (but not definite) evidence of stronger credit constraints for smaller firms. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the department to study access to finance"--World Bank web site Online-Ausg Also available in print Business enterprises India Finance Martínez Pería, María Soledad 1970- Sonstige (DE-588)138926514 oth World Bank Sonstige oth Love, Inessa Firm financing in India http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Love, Inessa Firm financing in India recent risks and patterns Business enterprises India Finance |
| title | Firm financing in India recent risks and patterns |
| title_auth | Firm financing in India recent risks and patterns |
| title_exact_search | Firm financing in India recent risks and patterns |
| title_exact_search_txtP | Firm financing in India recent risks and patterns |
| title_full | Firm financing in India recent risks and patterns Inessa Love and Maria Soledad Martinez Peria |
| title_fullStr | Firm financing in India recent risks and patterns Inessa Love and Maria Soledad Martinez Peria |
| title_full_unstemmed | Firm financing in India recent risks and patterns Inessa Love and Maria Soledad Martinez Peria |
| title_short | Firm financing in India |
| title_sort | firm financing in india recent risks and patterns |
| title_sub | recent risks and patterns |
| topic | Business enterprises India Finance |
| topic_facet | Business enterprises India Finance |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3476 |
| work_keys_str_mv | AT loveinessa firmfinancinginindiarecentrisksandpatterns AT martinezperiamariasoledad firmfinancinginindiarecentrisksandpatterns AT worldbank firmfinancinginindiarecentrisksandpatterns |