Exploring a low SME equity equilibrium in Wales
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Exploring a low SME equity equilibrium in Wales. / Kapitsinis, Nikos; Munday, Max; Roberts, Annette.
I: European Planning Studies, Bind 29, Nr. 10, 2021, s. 1777-1797.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Exploring a low SME equity equilibrium in Wales
AU - Kapitsinis, Nikos
AU - Munday, Max
AU - Roberts, Annette
N1 - Funding Information: This work was supported by Development Bank of Wales. Publisher Copyright: © 2021 Informa UK Limited, trading as Taylor & Francis Group.
PY - 2021
Y1 - 2021
N2 - Previous research has examined geographical variations in SME access to external finance, especially bank loans. Rather less attention has been paid to how far SME equity access difficulties in more peripheral regions, and cities within these regions, is a demand or supply side issue, and how far equity investments are concentrated in specific urban areas in peripheral regions. This paper examines these topics through an analysis of small firm equity deals across the UK regions, before focusing on the case of the Welsh economy. In the case analysis a low equilibrium for small business equity investment in Wales is identified, with low demand and poor supply of equity, but with a relatively high concentration of equity deals in the Cardiff urban area. The paper examines the potential implications of a low equity equilibrium and provides a challenge for further research in the area.
AB - Previous research has examined geographical variations in SME access to external finance, especially bank loans. Rather less attention has been paid to how far SME equity access difficulties in more peripheral regions, and cities within these regions, is a demand or supply side issue, and how far equity investments are concentrated in specific urban areas in peripheral regions. This paper examines these topics through an analysis of small firm equity deals across the UK regions, before focusing on the case of the Welsh economy. In the case analysis a low equilibrium for small business equity investment in Wales is identified, with low demand and poor supply of equity, but with a relatively high concentration of equity deals in the Cardiff urban area. The paper examines the potential implications of a low equity equilibrium and provides a challenge for further research in the area.
KW - Financial geography
KW - low equity equilibrium
KW - regional equity finance
KW - SMEs
KW - Wales
U2 - 10.1080/09654313.2021.1882945
DO - 10.1080/09654313.2021.1882945
M3 - Journal article
AN - SCOPUS:85100740098
VL - 29
SP - 1777
EP - 1797
JO - European Planning Studies
JF - European Planning Studies
SN - 0965-4313
IS - 10
ER -
ID: 291678261