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Exploring a low SME equity equilibrium in Wales

Kapitsinis, Nikolaos ORCID:, Munday, Maxim ORCID: and Roberts, Annette ORCID: 2021. Exploring a low SME equity equilibrium in Wales. European Planning Studies 29 (10) , pp. 1777-1797. 10.1080/09654313.2021.1882945

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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.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > H Social Sciences (General)
Uncontrolled Keywords: Financial geography; Regional equity finance: Low equity equilibrium, SMEs, Wales
Publisher: Taylor & Francis
ISSN: 0965-4313
Date of First Compliant Deposit: 19 January 2021
Date of Acceptance: 8 January 2021
Last Modified: 06 Nov 2023 22:12

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