2017
DOI: 10.1177/1465750317742842
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Effect of legal and regulatory framework on SMEs growth in the Accra Metropolis of Ghana

Abstract: Entrepreneurship has been generally recognized as one of the most important dynamics leading to development. However, promoting entrepreneurship depends on an enabling business climate. The study sought to explore the effect of legal and regulatory frameworks on small and medium enterprises (SMEs) growth in Ghana. The study was quantitative and primary data comprised 382 owners who were conveniently sampled for the study. The results were analysed using structural equation model-partial least square. … Show more

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Cited by 37 publications
(40 citation statements)
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“…Several scholars argue that mainstream management theories, which predominantly reflect the North American and European context, are not always applicable to different environments, without necessary adjustments and modifications (Zoogah et al, 2015). Institutional theories are especially insightful for research, and the present study adjoins the research pipeline to provide a theoretical extension of current perspectives on entrepreneurship in an African context (Nyarku and Oduro, 2017;Zoogah et al, 2015). Furthermore, focusing on theoretical and practical problems in Africa is important considering that 'firms in African countries tend to be poorly managed ' (Zoogah et al, 2015) and are merely concerned with survival and subsequently lack an orientation in terms of adopting 'the strategy making processes that provide organizations with a basis for entrepreneurial decisions' (Rauch et al, 2009: 762).…”
Section: Introductionmentioning
confidence: 94%
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“…Several scholars argue that mainstream management theories, which predominantly reflect the North American and European context, are not always applicable to different environments, without necessary adjustments and modifications (Zoogah et al, 2015). Institutional theories are especially insightful for research, and the present study adjoins the research pipeline to provide a theoretical extension of current perspectives on entrepreneurship in an African context (Nyarku and Oduro, 2017;Zoogah et al, 2015). Furthermore, focusing on theoretical and practical problems in Africa is important considering that 'firms in African countries tend to be poorly managed ' (Zoogah et al, 2015) and are merely concerned with survival and subsequently lack an orientation in terms of adopting 'the strategy making processes that provide organizations with a basis for entrepreneurial decisions' (Rauch et al, 2009: 762).…”
Section: Introductionmentioning
confidence: 94%
“…Researchers argue that in several emerging economies a lengthy bureaucratic process inhibits entrepreneurship where overregulation stifles innovation and growth (Busenitz et al, 2000;Djankov et al, 2002;Manolova et al, 2008). Such a scenario is concerning when considering the legal and regulatory environment in which a firm operates in has a critical role in influencing its survival and growth potential (Nyarku and Oduro, 2017).…”
Section: Institutional Arrangementsmentioning
confidence: 99%
“…For instance, a characteristic of a venture, such as a venture’s capability to innovate (Sarkar et al, 2006), may mitigate the negative influence of the legal structure of the venture on exit through sale. In addition, certain characteristics of a founder, such as the founder’s network (Hessels et al, 2011; Nyarku and Oduro, 2018) or mental health (Hessels et al, 2017; Wiklund et al, 2018), may also play a key role. Moreover, new types of incorporated structures have been authorized by governments, such as benefit corporation in the United States and the community interest company in the United Kingdom, and thus, future research is to investigate the influence of these new legal forms on ventures’ exit routes.…”
Section: Discussionmentioning
confidence: 99%
“…Clear regulations for institutions foster entrepreneurship, innovativeness, risktaking and proactiveness (Urban, 2013(Urban, , 2018. For entrepreneurial businesses to grow and thrive, sound legal and regulatory systems are needed (Nyarku and Oduro, 2018). On the other hand, non-uniform regulations can create opportunities for innovation (Wade et al, 1998).…”
Section: Regulations and Innovationmentioning
confidence: 99%