Cognitive financial constraints and firm growth

被引：17
|
作者：
Du, Jun [1 ]
Bach Nguyen [2 ,3 ]
机构：
[1] Aston Univ, Lloyds Banking Grp, Aston Business Sch, Ctr Business Prosper LBGCBP, Birmingham B4 7ET, W Midlands, England
[2] Univ Econ Ho Chi Minh City, Ho Chi Minh City, Vietnam
[3] Aston Univ, Aston Business Sch, Birmingham B4 7ET, W Midlands, England
来源：
SMALL BUSINESS ECONOMICS | 2022年 / 58卷 / 04期
关键词：
Cognitive styles; Financial constraints; Small businesses; Entrepreneurial performance; Emerging economies; RESEARCH-AND-DEVELOPMENT; BUSINESS FORMATION; ETHNIC-MINORITY; INVESTMENT; ENTREPRENEURS; PRODUCTIVITY; PERFORMANCE; GOVERNANCE; INNOVATION; BARRIERS;
D O I：
10.1007/s11187-021-00503-7
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study distinguishes entrepreneurs' cognitive financial constraints from financial supply constraints and assesses their relative importance to small business growth. Drawing from the literature on cognitive styles and institutional theory, we argue that small businesses' financial constraints derive not only from financial market failures but also from the cognitive factors of entrepreneurs. Analysing a comprehensive dataset of more than 200,000 small businesses in Vietnam, we show that both financial supply and cognitive financial constraints impede firm growth. Given this significantly deleterious effect, the cognitive financial constraints originating from the demand side of firm financing deserve more attention.
引用
收藏
页码：2109 / 2137
页数：29
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