Performance and the access to government guarantees: the case of small business investment companies

Performance and the access to government guarantees: the case of small business investment companies

The small business investment companies (SBIC) program was established to encourage the flow of long-term capital to small firms. Certain factors were found to be connected with the relationship between high usage of Small Business Administration-guaranteed debt and poor performance, specifically fo...

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Veröffentlicht in:Economic perspectives (1977) 1996-09, Vol.20 (5), p.16
Hauptverfasser: Brewer, III, Elijah, Genay, Hesna, Jackson, III, William E, Worthington, Paula R
Format: Artikel
Sprache:eng
Schlagworte:
Banking industry
Equity financing
Evaluation
Finance
Financial performance
Funding
General partners
Interest rates
Investment companies
Loans
R&D
Research & development
Small business
Small business investment companies
Subsidies
Venture capital
Venture capital companies
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Zusammenfassung:The small business investment companies (SBIC) program was established to encourage the flow of long-term capital to small firms. Certain factors were found to be connected with the relationship between high usage of Small Business Administration-guaranteed debt and poor performance, specifically for nonbank-owned SBICs. These include the prepayment effect and the mismatch effect.
ISSN:0164-0682
1048-115X
2163-3584