The Impact of Information Asymmetry on the Bank Financing of SMEs in Algeria: An Econometric Study

摘要

Improving the access of small and medium-sized enterprises to funding sources is an interest shared by governments, central banks and supervisory ministries ... this interest explains in an important aspect the problem of asymmetric information which is become more and more interesting, especially after the development of the information economy and economies of uncertainty since the early eighties. Banks consider that the lack of information production and the weak financial structure of small and medium enterprises are key factors in the mistiness of their relationship, which explains why banks are hard to deal with this type of institution. The theory of microeconomics addresses the problem that is at the heart of the modernization of microfinance theory. We will try to identify the most important implications for the financing decisions of banks under asymmetric information, and then drop those concepts on the case of Algeria by addressing the following axes:? The problem of asymmetric information in economic theory; ? The impact of asymmetric information on the financing decisions of banks towards small and medium enterprises; ? The impact of asymmetric information on the banking finance of small and medium enterprises in Algeria.