{"id":113498,"date":"2024-01-22T18:34:11","date_gmt":"2024-01-22T17:34:11","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/113498\/"},"modified":"2024-11-07T04:13:44","modified_gmt":"2024-11-07T03:13:44","slug":"oesterreichs-kleine-und-mittlere-unternehmen-in-der-finanzmarktkrise-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/113498\/","title":{"rendered":"SMEs and the Financial Crisis"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-113498","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The global financial crisis, which had its origin in the bursting of the real estate bubble in the USA, affected the confidence in the functionality of the modern financial system. Such a situation bears the risk that the restriction of credit supply turns into an outright credit crunch. The latter is defined as a significant contraction of the credit supply and a tightening of credit conditions. Smaller enterprises are likely to be particularly vulnerable to a credit crunch as they do not have access to capital markets.","onlinedate":"2009-12-21 01:00:00","lang":"German","publication_series":"","publication_date":"20091201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Finanzmarktkrise KMU Unternehmensfinanzierung\"]","jelcodes":"[]","related_publications":"[]","pdf":335979,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"82","monthly_report_pages":"979-985","monthly_report_pages_sort":"979","issue":"12","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3491],"collaboration":"","persons":[3607],"persons_data":"[{\"personId\":3607,\"personName\":\"Werner H\u00f6lzl\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>H\u00f6lzl, W.<\\\/span> (2009). <span>\u00d6sterreichs kleine und mittlere Unternehmen in der Finanzmarktkrise<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>82<\\\/em>(12), 979-985. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/37863\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/37863<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>H\u00f6lzl W<\\\/span>. <span class=\\\"title\\\"><span>\u00d6sterreichs kleine und mittlere Unternehmen in der Finanzmarktkrise<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 2009 Dec;82(12):979-985.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{84f3122e664e4dbb81e5bcba498bf468,<\\\/div><div>  title    = \\\"{\\\\\\\"O}sterreichs kleine und mittlere Unternehmen in der Finanzmarktkrise\\\",<\\\/div><div>  abstract = \\\"In der internationale Finanzmarkt- und Wirtschaftskrise, die vom Immobilienmarkt der USA ausgegangen war, wurde weltweit das Vertrauen in die Funktionsf{\\\\\\\"a}higkeit des modernen Banken- und Finanzsystems ersch{\\\\\\\"u}ttert. Diese Situation birgt die Gefahr einer Verknappung des Kreditangebotes, welche sich zu einer Kreditklemme entwickeln kann. Wegen des ungen{\\\\\\\"u}genden Zugangs zu Kapitalm{\\\\\\\"a}rkten w{\\\\\\\"a}ren kleine und mittlere Unternehmen von einer Kreditklemme besonders betroffen. In {\\\\\\\"O}sterreich ist auch ein Teil der Klein- und Mittelbetriebe vom Nachfrager{\\\\\\\"u}ckgang und einer Verschlechterung der Finanzierungsbedingungen betroffen; von einer allgemeinen Kreditklemme f{\\\\\\\"u}r kleine Unternehmen kann aber nicht gesprochen werden.\\\",<\\\/div><div>  keywords = \\\"Finanzmarktkrise KMU Unternehmensfinanzierung, Finanzmarktkrise KMU Unternehmensfinanzierung\\\",<\\\/div><div>  author   = \\\"Werner H{\\\\\\\"o}lzl\\\",<\\\/div><div>  note     = \\\"Finanzmarktkrise Klein- und Mittelbetriebe\\\",<\\\/div><div>  year     = \\\"2009\\\",<\\\/div><div>  month    = dec,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"82\\\",<\\\/div><div>  pages    = \\\"979--985\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - \u00d6sterreichs kleine und mittlere Unternehmen in der Finanzmarktkrise<\\\/p><p>AU  - H\u00f6lzl, Werner<\\\/p><p>N1  - Finanzmarktkrise Klein- und Mittelbetriebe<\\\/p><p>PY  - 2009\\\/12<\\\/p><p>Y1  - 2009\\\/12<\\\/p><p>N2  - In der internationale Finanzmarkt- und Wirtschaftskrise, die vom Immobilienmarkt der USA ausgegangen war, wurde weltweit das Vertrauen in die Funktionsf\u00e4higkeit des modernen Banken- und Finanzsystems ersch\u00fcttert. Diese Situation birgt die Gefahr einer Verknappung des Kreditangebotes, welche sich zu einer Kreditklemme entwickeln kann. Wegen des ungen\u00fcgenden Zugangs zu Kapitalm\u00e4rkten w\u00e4ren kleine und mittlere Unternehmen von einer Kreditklemme besonders betroffen. In \u00d6sterreich ist auch ein Teil der Klein- und Mittelbetriebe vom Nachfrager\u00fcckgang und einer Verschlechterung der Finanzierungsbedingungen betroffen; von einer allgemeinen Kreditklemme f\u00fcr kleine Unternehmen kann aber nicht gesprochen werden.<\\\/p><p>AB  - In der internationale Finanzmarkt- und Wirtschaftskrise, die vom Immobilienmarkt der USA ausgegangen war, wurde weltweit das Vertrauen in die Funktionsf\u00e4higkeit des modernen Banken- und Finanzsystems ersch\u00fcttert. Diese Situation birgt die Gefahr einer Verknappung des Kreditangebotes, welche sich zu einer Kreditklemme entwickeln kann. Wegen des ungen\u00fcgenden Zugangs zu Kapitalm\u00e4rkten w\u00e4ren kleine und mittlere Unternehmen von einer Kreditklemme besonders betroffen. In \u00d6sterreich ist auch ein Teil der Klein- und Mittelbetriebe vom Nachfrager\u00fcckgang und einer Verschlechterung der Finanzierungsbedingungen betroffen; von einer allgemeinen Kreditklemme f\u00fcr kleine Unternehmen kann aber nicht gesprochen werden.<\\\/p><p>KW  - Finanzmarktkrise KMU Unternehmensfinanzierung<\\\/p><p>KW  - Finanzmarktkrise KMU Unternehmensfinanzierung<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 82<\\\/p><p>SP  - 979<\\\/p><p>EP  - 985<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SMEs and the Financial Crisis - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/113498\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SMEs and the Financial Crisis\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/113498\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T03:13:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/113498\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/113498\\\/\",\"name\":\"SMEs and the Financial Crisis - 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