The objective of this paper is to identify the different forms of entrepreneurial support and assess their impact on the performance of newly established companies in order to identify the most appropriate support forms for these companies. To achieve this goal, our research is based on a literature review on the question followed by an empirical study on 127 newly established companies to make the connection between theory and reality. Using two types of statistical tools namely fuel descriptive tools such as principal component factor analysis for the purification of scales measuring performance and support; explanatory guidance tools such as multiple linear regressions to test our research hypothesis taking into account the phenomenon of interaction between the possible dimensions mentoring, we found a positive impact of support to newly established firms on the performance. The linear regression linking the variable "support" and the variable "performance" showed that three of the four dimensions of the variable support highlighted by factor analysis (support by the network and commercial relationship, financial support by professional organizations for funding and technical and managerial support by independent experts) are all positively and significantly related to performance.
Research on trade credit has been growing in recent years, contributing to our understanding of the phenomenon. However, the main problem is probably the impact of the contingent nature of the payment practices used by companies. The purpose of this paper is to address the determinants of trade credit in the Cameroonian context. Based on a sample of 65 Cameroonian companies observed in 2006, the econometric investigations highlight a genuine financial intermediation business close to productive activity. We used a general model incorporating both financial variables, transactional and sociocultural in order to estimate the joint effect of all explanatory variables on the trade credit which is a kind of investment in business relationship. Logistic regression results confirmed the positive and significant correlation between rationing and trade credit. There is also apparent influence of contingency factors on sociocultural commercial time through social capital and ethnicity of trade and investment partners. Moreover the manager share of capital positively influences the duration of the trade credit where as the financial motive is one that mostly influences to the companies' behavior.
IntroductionResearch has acknowledged that small and medium size enterprises (SMEs) play vital role in the private sectors of many countries around the world. Also, it has been acknowledged that these enterprises are usually confronted with lack of access to external finance (Beck and Demerirguc-Kunt, 2006). Due to frictions such as information asymmetries, agency problems, and differential tax rates that may exist among them and investors/lenders, they are particularly excluded from having access to finance from formal financial institution such as commercial banks. Consequently, in order to avoid the under-investment problem and to have financial flexibility, they used trade credit (TC) as an alternative source of financing.Trade credit is an arrangement between a buyer and a seller by which the seller allows delayed payment for its products instead of cash payment. Ferris (1981) describes it as a loan tied in both timing and value to the exchange of goods. Under credit market imperfection, Lewllen et al. (1980) suggested that firms can use it as an important source of financing to influence on its value. In order to verify this relationship, empirical studies undertaken in various contexts yielded contradictory results. While some pointed out a positive relationship (
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