Mark’s paper used empirical evidence from the UK to consider how entrepreneurs demand for external finance changed as the economy continued to be mired in its third and fourth years of recession and whether or not external finance became more difficult to access as the recession progressed. His research found that older firms and those with a higher risk rating, and a record of financial delinquency, were more likely to have a demand for external finance. The opposite was true for women-led businesses and firms with positive profits. In general finance was more readily available to older firms throughout the recession but banks were very unwilling to advance money to firms with a
high-risk rating or a record of any financial delinquency.
Outstanding Papers form the backbone of the Awards for Excellence and the Editorial Board of each journal is invited to choose a winning paper and three others that deserve a highly commended award from the previous year’s volume. As these awards are chosen by eminent academics or managers, the winning authors receive the prestige of it being recognised that theirs is one of the most impressive pieces of work the judges have seen throughout the past year.