The Impact of Financial Crises on the Financing Capabilities of Small and Medium-Sized Listed Companies: A Bibliometric Analysis

The global financial crisis from 2007 to 2008 had a serious economic impact on many countries and companies around the world, leading to a national economic recession. Small and medium-sized enterprises (SMEs) occupy an important position in the capital market and play a huge role in providing social employment and technological innovation. However, the occurrence of the financial crisis has caused the market to become extremely unstable, leading to financial institutions and banks tightening lending and increasing investors' aversion to the stock market. Often these listed companies find it more difficult to raise funds and their financing costs rise. This paper aims to study the impact of the financial crisis on the financing of small and medium-sized companies, and adopts a bibliometric research method. Through bibliometric analysis of 350 academic studies collected from Web of Science, it can be concluded that the region with the greatest impact on SMEs financing during the financial crisis was Asia. And the most serious impact on financing capabilities occurred in 2011. Literature analysis found that scholars in previous studies paid great attention to the financing and operation of SMEs, and thus studied and formulated policies to macro-control the economy.