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Enterprise Adjustment and the Role of Bank Credit in Russia : Evidence from a 420 Firm’s Qualitative Survey

Abstract : This paper is based on a 1996 industrial survey of 420 Russian firms' actual position, as opposed to their expectations and declared intentions. Factor analysis and ordered Probit techniques are used to test relationships between the various responses. The main conclusions are: 1) profit depends upon real productive performances, and, to a lesser extent, on financial discipline; 2) the demand for credit comes mainly from the worst-off firms or those already indebted; 3) the actual distribution of bank credit is allocated mostly to distressed firms, with poor performance and weak financial position.
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https://hal-sciencespo.archives-ouvertes.fr/hal-03416410
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Submitted on : Friday, November 5, 2021 - 11:27:12 AM
Last modification on : Friday, April 29, 2022 - 10:12:43 AM

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  • HAL Id : hal-03416410, version 1
  • SCIENCESPO : 2441/707

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Sophie Brana, Mathilde Maurel, Jérôme Sgard. Enterprise Adjustment and the Role of Bank Credit in Russia : Evidence from a 420 Firm’s Qualitative Survey. Comparative Economic Studies, Palgrave Macmillan, 1999, 41 (4), pp.47 - 69. ⟨hal-03416410⟩

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