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Becchetti, Leonardo; Trovato, Giovanni

doi:10.1023/a:1019678429111

Cited by 380 publications

(45 citation statements)

References 43 publications

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“…In case of binding credit constraint, the internal finance can help the firm to grow (Carpenter & Petersen, 2002). Hence, external finance contributes in firms' growth (Becchetti & Trovato, 2002;Ang, 2008;Cull & Xu, 2005;Beck et al, 2004). The reverse of finance-growth nexus is found in credit-constraint and growth relationship (Manova, 2013).…”

Section: Literature Reviewmentioning

confidence: 99%

Performance of Women Entrepreneurs: Does Access to Finance Really Matter?

Khaleque

2018

EJBE

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Bangladesh adopts labor intensive industrialization and inclusive finance strategy to fight against poverty. The strategies help the disadvantaged women empower and encourage doing something independently. But most of women entrepreneurs concentrated on major four types of businesses: parlor, boutique, clothing and fashion, which limit access to finance. The lack of access to finance was suspected to hamper their business growth. To understand such relationship, the descriptive as well as econometric tools and techniques were used. Durbin-Wu-Hausman test was used to test the endogeneity of the loan size. The test statistics suggest that the loan size is exogenous. Therefore, using the simple OLS method with various forms of error variances the regression results are estimated. Finally, the Feasible GLS method has been used to correct the heteroscedasticity problem. The result shows that the credit constraints and the credit size affect the monthly turnover of women entrepreneurs. The relaxation of credit constraint increases 6 percent monthly turnovers holding other things remaining same and so, it can be concluded that relaxing credit constraints improves business performance of women entrepreneurs.

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Section: Literature Reviewmentioning

confidence: 99%

Performance of Women Entrepreneurs: Does Access to Finance Really Matter?

Khaleque

2018

EJBE

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“…The disagreements about the relationship between age and the growth of firms in the extant literature can be explained partly by the multi-dimensionality and complexity of the phenomenon of growth, especially in small firms. For instance, some previous empirical studies suggest a positive effect of firm age on growth (Das, 1995;Elston, 1993), while others have shown a negative relation between the variables (Almeida & Campello, 2007;Becchetti & Trovato, 2002;Hobdari, Derek & Mygind, 2009). Given the resource-based hypothesis, as firms get older, theoretically, it is likely that their access to financial resources will improve.…”

Section: Agementioning

confidence: 99%

“…The age of a firm has been regarded as one of the most important explanatory variables of growth (Autio, 2005;Evans, 1987;Storey, 1994) and has been widely used to explain it (Becchetti & Trovato, 2002;Evans, 1987). However, the relationship between firm age and growth is not monotonic and is complex (Jovanovic, 1982).…”

Section: Agementioning

confidence: 99%

“…It has been argued that credit constraints, lack of external debt, and equity capital are the main obstacles to the growth of small and medium-sized enterprises (Becchetti & Trovato, 2002). Financial assets can quite easily be transformed into other types of resources.…”

Section: Financial Structure Variablesmentioning

confidence: 99%

“…With access to sufficient financial assets, firms are able to develop their growth capacity in different ways, for example, by using new technology, acquiring expertise and entering new markets (Castrogiovianni, 1996). Therefore, many empirical studies have regarded a lack of financial resources as an important barrier to growth (Audretsch & Elston, 2002;Becchetti & Trovato, 2002;Müller & Zimmermann, 2008;Oliveira & Fortunato, 2006;Reid, 2003;Storey, 1994).…”

Section: Financial Structure Variablesmentioning

confidence: 99%

See 2 more Smart Citations

The Impact of Financing Pattern on Firm Growth: Evidence from Swedish Micro Firms

Yazdanfar¹

2012

IBR

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This study examines the impact of financial structures on the growth of micro firms in Sweden. The objective of this paper is to explore whether firms' growth can be associated with patterns of financial acquisition and whether these patterns influence firms' growth differently when the source is either internal or external. Based on agency cost theory, hypotheses were formulated and tested with panel data consisting of 12 101 micro firms, using 84 707 observations for the period 2006-2007. The data were analysed using the seemingly unrelated regression (SUR) model. The empirical results reveal that internal financial sources -retained profitsignificantly influence firm growth. Similarly, short-term debt and growth are positively related. However, firm growth is generally more sensitive to retained profit than short-term debt. Interestingly, long-term debt generally has no effect on growth. The findings also indicate that size, age, and industry affiliation influence firm growth. Finally, agency cost theory is relevant in explaining the relationship between financing pattern and growth.

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References

2013

Growth Curve Modeling

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Untitled

Cited by 380 publications

References 43 publications

Performance of Women Entrepreneurs: Does Access to Finance Really Matter?

Performance of Women Entrepreneurs: Does Access to Finance Really Matter?

The Impact of Financing Pattern on Firm Growth: Evidence from Swedish Micro Firms

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