Does access to domestic finance and international finance contribute to sustainable development goals? Implications for policymakers

Abstract

Seventeen goals presented by the United Nation General Assembly provide an evidence‐based framework of planning and programming for sustainable development goals (SDGs) until 2030. There is a growing catalog of related reviews, recommendations, advice, and publications, whereas the professional community is undoubtedly emphasizing the need to adopt evidence‐based methodologies for the implementation of SDGs. In particular, emerging economies face a big challenge to implement SDGs practices efficiently. Some countries have focused on the business sector for this mission, whereas others invest in a variety of projects to gain SDGs. However, it is still not yet realized how small and medium‐sized enterprises (SMEs) contribute to SDGs. This research examines the influence of SMEs' access to domestic and international finances on SDGs (community and environmental practices). Data were collected from 310 Pakistani SMEs through a structured questionnaire. The findings revealed from structural equation modeling indicate that access to both domestic and international finances significantly contributes to community practices. However, access to international finance significantly helps in community practices but does not substantially facilitate environmental practices. This research recommends policymakers and practitioners to encourage domestic and international financial institutions and capitalists to invest in industrial sectors, which in turn can configure SDGs. Further implications are discussed.

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

“…However, the business organizations have now realized the importance of environmental and nonfinancial performance because of the community pressure and governmental regulations (Ilyas et al 2020;Memon et al 2020). Consequently, several strategies have been introduced to gain desirable environmental, financial and nonfinancial performance namely modern technology (Chege and Wang 2020;Singh et al 2019), financial resources (Khattak 2020;Memon et al 2020), intellectual capital (Demartini and Beretta 2020), entrepreneurial orientation (Amankwah-Amoah et al 2019), knowledge management (Kmieciak and Michna 2018;Roxas and Chadee 2016) and enterprise risk management (ERM) (Brustbauer 2016;, all of which are found to be relevant and equally important but the ERM in particular has become a key predictor of performance in financial institutions because they are persistently engaged in the reduction of financial loss and risk (Rasid et al 2014). As an emphasis, after the 2007-2008 financial crises, most banks and financial institutions established a formal ERM framework to mitigate potential risk (Adedayo et al 2019).…”

The Role of Entrepreneurial Finance in Corporate Social Responsibility and New Venture Performance in an Emerging Market

“…Studies have examined how financial capital is one of the significant factors of social and environmental practices (Hasan & Habib 2017;Ruggiero & Cupertino, 2018;Scholtens, 2006). In contrast, firms with a lack of financial resources are less likely to participate in social and environmental activities (Khattak, 2020). Surprisingly, entrepreneurial finance in CSR and environmental practices has remained mostly untouched as an issue, specifically when it comes to emerging firms.…”

Personality traits and bricolage as drivers of sustainable social responsibility in family SMEs: A COVID‐19 perspective

“…Moreover, it is argued that managers with high levels of education might strive to achieve more social practices as a result of their awareness of and knowledge about social efforts and their benefits. Consequently, studies in the same vein have also suggested these factors as controls when examining SMEs’ performance, outputs, and consequences (Anwar, 2018; Khan et al, 2020; Khattak, 2020). In our results, we found mixed results for these controls (see the findings of the structural model).…”