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sur fonds propres en second rang

English translation: equity as secondary form of financing

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:sur fonds propres en second rang
English translation:equity as secondary form of financing
Entered by: MoiraB
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07:47 Apr 3, 2007
French to English translations [PRO]
Bus/Financial - Economics / financing business start-ups
French term or phrase: sur fonds propres en second rang
Still with a study of the factors that determine growth in small and medium-sized businesses in French-speaking Belgium. I'm sure this is something very simple that's momentarily escaping me... OK, fonds propres = equity capital, but what does "en second rang" add? using equity capital as a secondary option? Comes up in the section on measurement of variables.

En ce qui concerne la nature des ressources financières, différentes variables dichotomiques ont été élaborées : une variable dummy si le créateur [d'entreprise] a principalement financé son projet par l’intermédiaire d’un emprunt bancaire, une variable dummy si le créateur a financé son entreprise **sur fonds propres en second rang**.
MoiraB
France
Local time: 16:32
equity as secondary form of financing
Explanation:
Loans as primary form of financing and equity as secondary form of financing. They co-exist in the financial structure, but if a young enterprise is seeking rapid growth, the entrepreneur will most likely have to rely on equity as the primary option source of financing (enter venture capitalists!)

"Au niveau des ressources financières mobilisées par la firme, nous montrons que le fait de disposer de ressources financières suffisantes est déterminant pour la croissance d’une entreprise et suggérons que les fonds propres devraient intervenir en premier rang pour accroître les chances de croissance."

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Note added at 23 mins (2007-04-03 08:10:45 GMT)
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"To begin with, balance sheets over-burdened with unprofitable Mittelstand loans cause banks to reconsider their role as the Mittelstand’s primary financing source." Replace "Mittelstand" with "small business"

"Secondary form of financing" or perhaps "as a secondary financing source" is even more succinct.
Selected response from:

xxxDCypher
Local time: 16:32
Grading comment
This is clearly what's going on. Thanks a lot!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1equity as secondary form of financingxxxDCypher
3second-tier equitySylvia Smith


  

Answers


20 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
second-tier equity


Explanation:
This could be what they are talking about, for example:

http://www.ufg.com/equity_products/

http://econpapers.repec.org/paper/fmgfmgdps/dp301.htm


Sylvia Smith
Local time: 16:32
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
equity as secondary form of financing


Explanation:
Loans as primary form of financing and equity as secondary form of financing. They co-exist in the financial structure, but if a young enterprise is seeking rapid growth, the entrepreneur will most likely have to rely on equity as the primary option source of financing (enter venture capitalists!)

"Au niveau des ressources financières mobilisées par la firme, nous montrons que le fait de disposer de ressources financières suffisantes est déterminant pour la croissance d’une entreprise et suggérons que les fonds propres devraient intervenir en premier rang pour accroître les chances de croissance."

--------------------------------------------------
Note added at 23 mins (2007-04-03 08:10:45 GMT)
--------------------------------------------------

"To begin with, balance sheets over-burdened with unprofitable Mittelstand loans cause banks to reconsider their role as the Mittelstand’s primary financing source." Replace "Mittelstand" with "small business"

"Secondary form of financing" or perhaps "as a secondary financing source" is even more succinct.

xxxDCypher
Local time: 16:32
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
This is clearly what's going on. Thanks a lot!

Peer comments on this answer (and responses from the answerer)
agree  Evi Prokopi
5 hrs
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