EDITORIAL POLICY
Abstract:
Spanish business are almost entirely composed of small and medium-sized enterprises. As a consequence of the economic crisis, which began in 2007, access to bank credit has been largely restricted. In this manner, a series of organizations and companies were born as an alternative to the traditional financing channels. Reciprocal Guarantee Societies (SGR), Venture Capital Societies (SCR), Business Angels, Crowdfunding and Crowdlending phenomena, and the Alternative Stock Market (ASM) are some examples of these. It should be noted that the choice of an adequate source of funding is a key aspect for the proper functioning of a company, since depending on the financing used, the capital structure of the company will be determined, and consequently many factors such as productive and operative capacity, the structure of financial expenses and costs, the required profitability or the value of the companies will be influenced.
Spanish business are almost entirely composed of small and medium-sized enterprises. As a consequence of the economic crisis, which began in 2007, access to bank credit has been largely restricted. In this manner, a series of organizations and companies were born as an alternative to the traditional financing channels. Reciprocal Guarantee Societies (SGR), Venture Capital Societies (SCR), Business Angels, Crowdfunding and Crowdlending phenomena, and the Alternative Stock Market (ASM) are some examples of these. It should be noted that the choice of an adequate source of funding is a key aspect for the proper functioning of a company, since depending on the financing used, the capital structure of the company will be determined, and consequently many factors such as productive and operative capacity, the structure of financial expenses and costs, the required profitability or the value of the companies will be influenced.
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Finance, Markets and Valuation (e-ISSN 2530-3163) is an Open Access research e-journal. Contents published on the journal are licensed a Creative Commons Attribution 4.0 International License (CC BY 4.0) |