Formal Finance Usage and Innovative SMEs: Evidence from ASEAN Countries
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Ayyagari, Meghana & Demirgüç-Kunt, Asli & Maksimovic, Vojislav, 2014. "Bribe Payments and Innovation in Developing Countries: Are Innovating Firms Disproportionately Affected?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 49(1), pages 51-75, February.
- Rainer Haselmann & Paul Wachtel, 2010.
"Institutions and Bank Behavior: Legal Environment, Legal Perception, and the Composition of Bank Lending,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 965-984, August.
- Rainer Haselmann & Paul Wachtel, 2010. "Institutions and Bank Behavior: Legal Environment, Legal Perception, and the Composition of Bank Lending," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 965-984, August.
- N. Berger, Allen & F. Udell, Gregory, 1998.
"The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle,"
Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 613-673, August.
- Allen N. Berger & Gregory F. Udell, 1998. "The economics of small business finance: the roles of private equity and debt markets in the financial growth cycle," Finance and Economics Discussion Series 1998-15, Board of Governors of the Federal Reserve System (U.S.).
- Daron Acemoglu & Philippe Aghion & Fabrizio Zilibotti, 2006.
"Distance to Frontier, Selection, and Economic Growth,"
Journal of the European Economic Association, MIT Press, vol. 4(1), pages 37-74, March.
- Aghion, Philippe & Acemoglu, Daron & Zilibotti, Fabrizio, 2002. "Distance to Frontier, Selection, and Economic Growth," CEPR Discussion Papers 3467, C.E.P.R. Discussion Papers.
- Daron Acemoglu & Philippe Aghion & Fabrizio Zilibotti, 2002. "Distance to Frontier, Selection, and Economic Growth," NBER Working Papers 9066, National Bureau of Economic Research, Inc.
- Zilibotti, Fabrizio & Aghion, Philippe & Acemoglu, Daron, 2006. "Distance to Frontier, Selection, and Economic Growth," Scholarly Articles 4554122, Harvard University Department of Economics.
- Shashi, & Centobelli, Piera & Cerchione, Roberto & Singh, Rajwinder, 2019. "The impact of leanness and innovativeness on environmental and financial performance: Insights from Indian SMEs," International Journal of Production Economics, Elsevier, vol. 212(C), pages 111-124.
- Martina Lawless & Brian O'Connell & Conor O'Toole, 2015.
"Financial structure and diversification of European firms,"
Applied Economics, Taylor & Francis Journals, vol. 47(23), pages 2379-2398, May.
- Lawless, Martina & O'Connell, Brian & O'Toole, Conor, 2014. "Financial Structure and Diversification of European Firms," Papers WP492, Economic and Social Research Institute (ESRI).
- Lee, Neil & Sameen, Hiba & Cowling, Marc, 2015.
"Access to finance for innovative SMEs since the financial crisis,"
Research Policy, Elsevier, vol. 44(2), pages 370-380.
- Lee, Neil & Sameen, Hiba & Cowling, Marc, 2015. "Access to finance for innovative SMEs since the financial crisis," LSE Research Online Documents on Economics 60052, London School of Economics and Political Science, LSE Library.
- Yuriy Gorodnichenko & Monika Schnitzer, 2013.
"Financial Constraints And Innovation: Why Poor Countries Don'T Catch Up,"
Journal of the European Economic Association, European Economic Association, vol. 11(5), pages 1115-1152, October.
- Yuriy Gorodnichenko & Monika Schnitzer, 2010. "Financial constraints and innovation: Why poor countries don't catch up," NBER Working Papers 15792, National Bureau of Economic Research, Inc.
- Gorodnichenko, Yuriy & Schnitzer, Monika, 2010. "Financial constraints and innovation: Why poor countries don't catchup," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 341, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Gorodnichenko, Yuriy & Schnitzer, Monika, 2010. "Financial Constraints and Innovation: Why Poor Countries Don't Catch Up," IZA Discussion Papers 4786, Institute of Labor Economics (IZA).
- Gorodnichenko, Yuriy & Schnitzer, Monika, 2013. "Financial constraints and innovation: Why poor countries don't catch up," Munich Reprints in Economics 20443, University of Munich, Department of Economics.
- Schnitzer, Monika & Gorodnichenko, Yuriy, 2010. "Financial constraints and innovation: Why poor countries don't catch up," CEPR Discussion Papers 7721, C.E.P.R. Discussion Papers.
- Fernandez, Viviana, 2017. "The finance of innovation in Latin America," International Review of Financial Analysis, Elsevier, vol. 53(C), pages 37-47.
- Yao Wang, 2016. "What are the biggest obstacles to growth of SMEs in developing countries? – An empirical evidence from an enterprise survey," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 16(3), pages 167-176, September.
- José Polo & José Ramos & Aquiles Arrieta & Natalia Ramirez, 2018. "Impacto de la innovación sobre la conducta exportadora en el sector de alimentos y bebidas de Colombia," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 33(1), pages 89-120, April.
- Schäfer, Dorothea & Werwatz, Axel & Zimmermann, Volker, 2004.
"The Determinants of Debt and (Private) Equity Financing : The Case of Young, Innovative SMEs from Germany,"
EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 11(3), pages 225-248.
- Dorothea Schafer & Axel Werwatz & Volker Zimmermann, 2004. "The Determinants of Debt and (Private) Equity Financing: The Case of Young, Innovative SMEs from Germany," Industry and Innovation, Taylor & Francis Journals, vol. 11(3), pages 225-248.
- Ying-Ying Lee, 2015. "Efficient propensity score regression estimators of multi-valued treatment effects for the treated," Economics Series Working Papers 738, University of Oxford, Department of Economics.
- Rajan, Raghuram G, 1992. "Insiders and Outsiders: The Choice between Informed and Arm's-Length Debt," Journal of Finance, American Finance Association, vol. 47(4), pages 1367-1400, September.
- James R. Brown & Gustav Martinsson & Bruce C. Petersen, 2013.
"Law, Stock Markets, and Innovation,"
Journal of Finance, American Finance Association, vol. 68(4), pages 1517-1549, August.
- Brown, James R. & Martinsson, Gustav & Petersen, Bruce C., 2015. "Law, Stock Markets, and Innovation," Working Paper Series in Economics and Institutions of Innovation 393, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
- Darush Yazdanfar & Sara Turner, 2012. "The structure of external financing at start-up stage: the differences between Swedish female- and male-owned firms," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 9(2), pages 157-170.
- Elena Bardasi & Shwetlena Sabarwal & Katherine Terrell, 2011. "How do female entrepreneurs perform? Evidence from three developing regions," Small Business Economics, Springer, vol. 37(4), pages 417-441, November.
- Beatriz Armendáriz & Jonathan Morduch, 2010.
"The Economics of Microfinance, Second Edition,"
MIT Press Books,
The MIT Press,
edition 2, volume 1, number 0262014106, December.
- Beatriz Armendáriz & Jonathan Morduch, 2010. "The Economics of Microfinance, Second Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262513986, December.
- Pham, Tho & Talavera, Oleksandr, 2018.
"Discrimination, Social Capital, and Financial Constraints: The Case of Viet Nam,"
World Development, Elsevier, vol. 102(C), pages 228-242.
- Tho Pham & Oleksandr Talavera, 2017. "Discrimination, social capital, and financial constraints: The case of Vietnam," WIDER Working Paper Series wp-2017-67, World Institute for Development Economic Research (UNU-WIDER).
- Wellalage, Nirosha Hewa & Reddy, Krishna, 2020. "Determinants of profit reinvestment undertaken by SMEs in the small island countries," Global Finance Journal, Elsevier, vol. 43(C).
- Maria Luisa Mancusi & Andrea Vezzulli, 2010. "R&D, Innovation and Liquidity Constraints," KITeS Working Papers 030, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised May 2010.
- Wellalage, Nirosha Hewa & Fernandez, Viviana, 2019. "Innovation and SME finance: Evidence from developing countries," International Review of Financial Analysis, Elsevier, vol. 66(C).
- Ploypailin Kijkasiwat & Pongsutti Phuensane, 2020. "Innovation and Firm Performance: The Moderating and Mediating Roles of Firm Size and Small and Medium Enterprise Finance," JRFM, MDPI, vol. 13(5), pages 1-15, May.
- Dorothea Schäfer & Axel Werwatz & Volker Zimmermann, 2004.
"The Determinants of Debt and (Private-) Equity Financing in Young Innovative SMEs: Evidence from Germany,"
Discussion Papers of DIW Berlin
411, DIW Berlin, German Institute for Economic Research.
- Schäfer, Dorothea & Werwatz, Axel & Zimmermann, Volker, 2004. "The determinants of debt and (private-) equity financing in young innovative SMEs: Evidence from Germany," CFS Working Paper Series 2004/06, Center for Financial Studies (CFS).
- Joachim Wagner & John P. Weche Gelübcke, 2015.
"Access to finance, foreign ownership and foreign takeovers in Germany,"
Applied Economics, Taylor & Francis Journals, vol. 47(29), pages 3092-3112, June.
- Weche Gelübcke, John P. & Wagner, Joachim, 2014. "Access to Finance, Foreign Ownership, and Foreign Takeovers in Germany," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100295, Verein für Socialpolitik / German Economic Association.
- Cornaggia, Jess & Mao, Yifei & Tian, Xuan & Wolfe, Brian, 2015. "Does banking competition affect innovation?," Journal of Financial Economics, Elsevier, vol. 115(1), pages 189-209.
- Carlo Bellavite Pellegrini & Emiliano Sironi, 2017. "Does a one-tier board affect firms’ performances? Evidences from Italian unlisted enterprises," Small Business Economics, Springer, vol. 48(1), pages 213-224, January.
- Susan Coleman, 2004. "The "Liability of Newness" and Small Firm Access to Debt Capital: Is There a Link?," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 9(2), pages 37-60, Summer.
- Flora Wang, 2016. "What are the biggest obstacles to growth of SMEs in developing countries? - A picture emerging from an enterprise survey," Working Papers IES 2016/09, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised May 2016.
- Nguyen Viet Cuong, 2013. "Which covariates should be controlled in propensity score matching? Evidence from a simulation study," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 67(2), pages 169-180, May.
- Abidemi C. Adegboye & Samuel Iweriebor, 2018. "Does Access to Finance Enhance SME Innovation and Productivity in Nigeria? Evidence from the World Bank Enterprise Survey," African Development Review, African Development Bank, vol. 30(4), pages 449-461, December.
- Hans Lööf & Pardis Nabavi, 2016.
"Innovation and credit constraints: evidence from Swedish exporting firms,"
Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 25(3), pages 269-282, April.
- Lööf , Hans & Nabavi, Pardis, 2014. "Innovation and credit constraints: Evidence from Swedish exporting firms," Working Paper Series in Economics and Institutions of Innovation 387, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
- Lee, Ying-Ying, 2018. "Efficient propensity score regression estimators of multivalued treatment effects for the treated," Journal of Econometrics, Elsevier, vol. 204(2), pages 207-222.
- Beck, Thorsten & Demirguc-Kunt, Asli, 2006. "Small and medium-size enterprises: Access to finance as a growth constraint," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2931-2943, November.
- María-José Palacín-Sánchez & Francisco-Javier Canto-Cuevas & Filippo di-Pietro, 2019. "Trade credit versus bank credit: a simultaneous analysis in European SMEs," Small Business Economics, Springer, vol. 53(4), pages 1079-1096, December.
- Sasidharan, Subash & Jijo Lukose, P.J. & Komera, Surenderrao, 2015. "Financing constraints and investments in R&D: Evidence from Indian manufacturing firms," The Quarterly Review of Economics and Finance, Elsevier, vol. 55(C), pages 28-39.
- Lan Thanh Archer & Parmendra Sharma & Jen-Je Su, 2020. "Do credit constraints always impede innovation? Empirical evidence from Vietnamese SMEs," Applied Economics, Taylor & Francis Journals, vol. 52(44), pages 4864-4880, September.
- Ayyagari, Meghana & Demirgüç-Kunt, Asli & Maksimovic, Vojislav, 2011. "Firm Innovation in Emerging Markets: The Role of Finance, Governance, and Competition," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 46(6), pages 1545-1580, December.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Wellalage, Nirosha Hewa & Fernandez, Viviana, 2019. "Innovation and SME finance: Evidence from developing countries," International Review of Financial Analysis, Elsevier, vol. 66(C).
- Abderazak Bakhouche, 2022. "Assessing the Innovation-finance Nexus for SMEs: Evidence from the Arab Region (MENA)," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 1875-1895, September.
- Ploypailin Kijkasiwat & Pongsutti Phuensane, 2020. "Innovation and Firm Performance: The Moderating and Mediating Roles of Firm Size and Small and Medium Enterprise Finance," JRFM, MDPI, vol. 13(5), pages 1-15, May.
- Wellalage, Nirosha Hewa & Locke, Stuart, 2020. "Formal credit and innovation: Is there a uniform relationship across types of innovation?," International Review of Economics & Finance, Elsevier, vol. 70(C), pages 1-15.
- Nirosha Wellalage & Sujani Thrikawala, 2021. "Does bribery sand or grease the wheels of firm level innovation: evidence from Latin American countries," Journal of Evolutionary Economics, Springer, vol. 31(3), pages 891-929, July.
- Çağatay Bircan & Ralph De Haas, 2020.
"The Limits of Lending? Banks and Technology Adoption across Russia,"
The Review of Financial Studies, Society for Financial Studies, vol. 33(2), pages 536-609.
- Bircan, Cagatay & de Haas, R., 2015. "The Limits of Lending : Banks and Technology Adoption Across Russia," Other publications TiSEM 8bd438b2-0e15-4fed-afc4-d, Tilburg University, School of Economics and Management.
- Çagatay Bircan & Ralph de Haas, 2015. "The Limits of Lending: Banks and Technology Adoption across Russia," CESifo Working Paper Series 5461, CESifo.
- Bircan, Cagatay & de Haas, R., 2015. "The Limits of Lending : Banks and Technology Adoption Across Russia," Discussion Paper 2015-011, Tilburg University, Center for Economic Research.
- Bircan, Cagatay & de Haas, R., 2015. "The Limits of Lending : Banks and Technology Adoption Across Russia," Other publications TiSEM d7a436de-83f6-4551-aaf9-0, Tilburg University, School of Economics and Management.
- De Haas, Ralph & Bircan, Cagatay, 2019. "The Limits of Lending? Banks and Technology Adoption across Russia," CEPR Discussion Papers 13663, C.E.P.R. Discussion Papers.
- Daniel Ruiz-Palomo & Manuel à ngel Fernández-Gámez & Ana León-Gómez, 2022. "Analyzing the Effect of Financial Constraints on Technological and Management Innovation in SMEs: A Gender Perspective," SAGE Open, , vol. 12(1), pages 21582440221, March.
- Hewa Wellalage, Nirosha & Hunjra, Ahmed Imran & Manita, Riadh & Locke, Stuart M., 2021. "Information communication technology and financial inclusion of innovative entrepreneurs," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
- Mirgul Nizaeva & Ali Coskun, 2019. "Investigating the Relationship Between Financial Constraint and Growth of SMEs in South Eastern Europe," SAGE Open, , vol. 9(3), pages 21582440198, September.
- Giraudo, Emanuele & Giudici, Giancarlo & Grilli, Luca, 2019. "Entrepreneurship policy and the financing of young innovative companies: Evidence from the Italian Startup Act," Research Policy, Elsevier, vol. 48(9), pages 1-1.
- Andrés Rodríguez‐Pose & Roberto Ganau & Kristina Maslauskaite & Monica Brezzi, 2021.
"Credit constraints, labor productivity, and the role of regional institutions: Evidence from manufacturing firms in Europe,"
Journal of Regional Science, Wiley Blackwell, vol. 61(2), pages 299-328, March.
- Andres Rodriguez-Pose & Roberto Ganau & Kristina Maslauskaite & Monica Brezzi, 2020. "Credit Constraints, Labor Productivity and the Role of Regional Institutions: Evidence from Manufacturing Firms in Europe," Papers in Evolutionary Economic Geography (PEEG) 2053, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Nov 2020.
- Rodríguez-Pose, Andrés & Ganau, Roberto & Maslauskaite, Kristina & Brezzi, Monica, 2020. "Credit constraints, labor productivity and the role of regional institutions: evidence for manufacturing firms in Europe," LSE Research Online Documents on Economics 107500, London School of Economics and Political Science, LSE Library.
- RodrÃguez-Pose, Andrés & Ganau, Roberto & Maslauskaite, Kristina & Brezzi, Monica, 2020. "Credit Constraints, Labor Productivity and the Role of Regional Institutions: Evidence from Manufacturing Firms in Europe," CEPR Discussion Papers 15430, C.E.P.R. Discussion Papers.
- Rodríguez-Pose, Andrés & Ganau, Roberto & Maslauskaite, Kristina & Brezzi, Monica, 2020. "Credit constraints, labor productivity and the role of regional institutions: evidence from manufacturing firms in Europe," LSE Research Online Documents on Economics 106697, London School of Economics and Political Science, LSE Library.
- Francesco Aiello & Graziella Bonanno & Stefania P. S. Rossi, 2020. "How firms finance innovation. Further empirics from European SMEs," Metroeconomica, Wiley Blackwell, vol. 71(4), pages 689-714, November.
- Ortiz, Rodrigo & Fernandez, Viviana, 2022. "Business perception of obstacles to innovate: Evidence from Chile with pseudo-panel data analysis," Research in International Business and Finance, Elsevier, vol. 59(C).
- Imelda T. Angeles & Ma. Socorro P. Calara & Allan B. Guzman, 2019. "The mediating effect of microfinancing on access to finance and growth of microenterprises: evidence from the Philippines," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 9(1), pages 1-16, December.
- Danlin Shen & Carl R. Chen & Xinyan Yan & Zhihong Yi, 2022. "Do credit market accessibility and legal protection shape corporate innovation?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(3), pages 719-754, September.
- ONIFADE Stephen Taiwo & ACET Hakan & ÇEVİK Savaş, 2022. "Modeling The Impacts Of Msmes' Contributions To Gdp And Their Constraints On Unemployment: The Case Of African’S Most Populous Country," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 17(1), pages 154-170, April.
- Shusen Qi & Steven Ongena, 2020.
"Fuel the Engine: Bank Credit and Firm Innovation,"
Journal of Financial Services Research, Springer;Western Finance Association, vol. 57(2), pages 115-147, April.
- Shusen Qi & Steven Ongena, 2018. "Fuel the Engine: Bank Credit and Firm Innovation," Swiss Finance Institute Research Paper Series 18-61, Swiss Finance Institute.
- Chau Le & Bach Nguyen & Vinh Vo, 2024. "Do intangible assets help SMEs in underdeveloped markets gain access to external finance?—the case of Vietnam," Small Business Economics, Springer, vol. 62(2), pages 833-855, February.
- Johan Karlsson, 2021. "Firm size and growth barriers: a data-driven approach," Small Business Economics, Springer, vol. 57(3), pages 1319-1338, October.
- Kijkasiwat, Ploypailin, 2021. "The influence of behavioral factors on SMES’ owners intention to adopt private finance," Journal of Behavioral and Experimental Finance, Elsevier, vol. 30(C).
More about this item
Keywords
innovation; small and medium enterprises (SMEs); formal finance; ASEAN countries; propensity score weighting;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:13:y:2020:i:10:p:222-:d:418011. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.