The Path of Belarusian Entrepreneurship to a Socially Oriented Market Economy

Pobol, Anna; Słonimska, Marina

doi:10.1007/978-3-319-57342-7_16

Cited by 2 publications

(1 citation statement)

References 18 publications

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“…Hostile environments are environments that threaten the performance of SMEs (Kabir et al, 2023; Welter et al, 2012). Underdeveloped institutional structures, such as educational and economic institutions, can inhibit the functioning of small businesses in hostile contexts (Covin & Slevin, 1989; Pobol & Slonimska, 2017).…”

Section: Introductionmentioning

confidence: 99%

Transaction governance structure, institutional voids and transaction efficiency: An analysis of small and medium‐sized enterprises in emerging markets

Masroor,

Tasneem,

Alam

et al. 2023

Bus Strat Dev

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In an emerging market and developing economies, transaction governance structure (TGS) plays a crucial role in determining transaction costs (TC) and transaction efficiency (TE) for small and medium‐sized enterprises (SMEs). The presence of institutional voids (IVs) further complicates the situation by adding uncertainty and complexity to the transactions. Therefore, understanding the interplay between TGS, TC, TE, and IVs is essential for SMEs to thrive and contribute to the overall economic growth of the country. This study investigates the impact of transaction governance structure on transaction efficiency with the moderating effect of institutional voids on small and medium‐sized IT and software firms in Bangladesh. A sample of 131 SMEs was selected using nonprobability convenience and snowball sampling techniques. Data were collected using a self‐administered structured questionnaire with a 5‐point Likert scale and analysed using the PLS‐SEM approach. The study findings reveal that TGS significantly and positively impacts TE, and IV moderates the relationship between TGS and TE positively. The results of the study reveal that TGS plays a crucial role in reducing transaction costs and enhancing transaction efficiency for small and medium‐sized firms in Bangladesh, thus presenting opportunities for inclusive growth and development in the country's software and IT sector. This study provided valuable insights for policymakers and practitioners on the importance of TGS and IV in enhancing transaction efficiency. Additionally, the study acknowledges the significance of meeting social and environmental needs by leveraging corporate assets and expertise, strengthening a company's competitive strategy, and developing new business opportunities.

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