Pulkeria Pascoe, M. D. de Barcellos, H. De Steur, J. Schouteten, H. Tundui, X. Gellynck
{"title":"获得外部融资的企业层面决定因素和外部融资对企业绩效的影响","authors":"Pulkeria Pascoe, M. D. de Barcellos, H. De Steur, J. Schouteten, H. Tundui, X. Gellynck","doi":"10.3846/bm.2023.1083","DOIUrl":null,"url":null,"abstract":"This cross-sectional study employs resource-based view and resource dependence theories to examine the determinants of access to external finance at firm-level and the effect of access to external finance on performance of 328 agri-food firms. Applying binary logistic regression, results indicate that firm age, ownership, sources of financing, and firm location were significant predictors of access to external finance. The effect of access to external finance on firm performance analyzed using linear regression was positive and significant. Therefore, firm-specific characteristics are crucial in the decision to access external finance. Access is easier for older firms in small cities that rely on informal sources of financing. Family firms are more vulnerable to external finance than non-family firms. Furthermore, access to external financing is associated with better firm performance. The findings of this study are useful for managers making financing decisions and for stakeholders involved in micro and small enterprises financing.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":"451 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"FIRM-LEVEL DETERMINANTS OF ACCESS TO EXTERNAL FINANCE AND IMPACT OF EXTERNAL FINANCE ON FIRM PERFORMANCE\",\"authors\":\"Pulkeria Pascoe, M. D. de Barcellos, H. De Steur, J. Schouteten, H. Tundui, X. Gellynck\",\"doi\":\"10.3846/bm.2023.1083\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This cross-sectional study employs resource-based view and resource dependence theories to examine the determinants of access to external finance at firm-level and the effect of access to external finance on performance of 328 agri-food firms. Applying binary logistic regression, results indicate that firm age, ownership, sources of financing, and firm location were significant predictors of access to external finance. The effect of access to external finance on firm performance analyzed using linear regression was positive and significant. Therefore, firm-specific characteristics are crucial in the decision to access external finance. Access is easier for older firms in small cities that rely on informal sources of financing. Family firms are more vulnerable to external finance than non-family firms. Furthermore, access to external financing is associated with better firm performance. The findings of this study are useful for managers making financing decisions and for stakeholders involved in micro and small enterprises financing.\",\"PeriodicalId\":346157,\"journal\":{\"name\":\"International Scientific Conference „Business and Management“\",\"volume\":\"451 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2023-05-11\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Scientific Conference „Business and Management“\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.3846/bm.2023.1083\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Scientific Conference „Business and Management“","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3846/bm.2023.1083","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
FIRM-LEVEL DETERMINANTS OF ACCESS TO EXTERNAL FINANCE AND IMPACT OF EXTERNAL FINANCE ON FIRM PERFORMANCE
This cross-sectional study employs resource-based view and resource dependence theories to examine the determinants of access to external finance at firm-level and the effect of access to external finance on performance of 328 agri-food firms. Applying binary logistic regression, results indicate that firm age, ownership, sources of financing, and firm location were significant predictors of access to external finance. The effect of access to external finance on firm performance analyzed using linear regression was positive and significant. Therefore, firm-specific characteristics are crucial in the decision to access external finance. Access is easier for older firms in small cities that rely on informal sources of financing. Family firms are more vulnerable to external finance than non-family firms. Furthermore, access to external financing is associated with better firm performance. The findings of this study are useful for managers making financing decisions and for stakeholders involved in micro and small enterprises financing.