Empresa familiar y racionamiento de crédito
ISSN: 1989-1725
Year of publication: 2010
Volume: 1
Issue: 3
Pages: 15-39
Type: Article
More publications in: Revista Internacional de la Pequeña y Mediana Empresa
Abstract
The prominence of family businesses in the social and economic scene has motivated research to identify the factors that might determine their survival and improve their economic performance. We focus on the issue of credit rationing, as the end result of the restrictions sometimes imposed by financial entities. Thus, the aim of this paper is to test the bank credit market for credit access or price constraints on family businesses.The investigation was based on a quantitative analysis of data drawn from questionnaires distributed to 816 Spanish based firms, 545 of which classed as family firms, and from the compulsory accounting records of the firms. Conjoint analysis of these data allowed us to test the Spanish credit market. We conclude with a set of recommendations to improve efficiency in the credit market.