BIS Review 63/2007  3  Second, regarding SMEs, the report indicates that several of the differences in the financial position of firms according to size which had been identified in previous studies are driven mainly by the relative weights of SMEs and large firms in the various sectors, and also to some extent by the relative weights of SMEs in the various countries.
At the same time, the report also highlights that some differences across size classes remain regarding the reliance on bonds and the share of financial to total assets – which is lower for SMEs – and in terms of the reliance on bank loans and cash – which is higher for SMEs.