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Collective Loans for Bulgaria's Self-Employed: A Field Study of Social and Financial Capital on Enterprise Growth

Author

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  • Shad Morris

    (Cornell University)

Abstract

The purpose of this paper is to increase understanding of how collective lending strategies leverage social capital to improve firm performance. Drawing on economic and sociological perspectives and fieldwork in Bulgaria, I argue that social capital may enhance the effects of financial capital on firm performance in microenterprises. Findings show that a collective lending strategy facilitates greater firm performance than individual lending--due partially to the increased social capital it creates for the entrepreneur. These findings come from a multi-method field study conducted in Bulgaria, where qualitative data were collected from over 40 business owner interviews. The findings have implications for theoretical and practical application within the field of microfinance.

Suggested Citation

  • Shad Morris, 2003. "Collective Loans for Bulgaria's Self-Employed: A Field Study of Social and Financial Capital on Enterprise Growth," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 8(3), pages 57-76, Fall.
    • Handle: RePEc:pep:journl:v:8:y:2003:i:3:p:57-76
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    More about this item

    Keywords

    Enterprise ; Entrepreneur ; Firm ; Firms ; Self Employed;
    All these keywords.

    JEL classification:

    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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