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PurposeDespite their crucial role in sustaining national economies, small and medium enterprises (SMEs) are beset by the constraint of financing at better conditions. The purpose of this paper is to compare supply chain finance (SCF) solutions provided by commercial banks and financial service providers (FSPs) that help SMEs access financing.Design/methodology/approachThis study looks at multiple case studies using in-depth interviews with focal firms (lenders) to answer the research questions. In-depth interviews were conducted with three Chinese FSPs and three commercial banks providing working capital to the same SMEs. The unit of analysis is SCF solutions that have made the companies competitive in the industry.FindingsThe case studies show that the acquisition of transaction information and business credit in SCF can reduceex anteinformation asymmetry. SCF utilizing receivable transfers, closed-loop business, relational embeddedness, and a combination of outcome control and behavioral control can also reduceex postinformation asymmetry. For these reasons, compared with commercial bank-dominated SCF, SCF adopted by FSPs in the supply chain can better reduce information asymmetry.Originality/valueThis study contributes to the emerging literature exploring the impact of SCF on SMEs accessing financing. In particular, this study provides supply chain management and operations insights on SCF and their consequent influence. Previous research has focused on the direct dyadic relationship between lenders and borrowers while neglecting supply chain effects. Uniquely, this study explores the different ways commercial banks and FSPs implement SCF solutions.

Unternehmensfinanzierung. Nutzung von Krediten. Schwierigkeiten bei Kreditaufnahme.

This study explained access of women in community finance and its impact on their household economy. To the end, 140 community finance groups of Phulwari Village was regarded as case of the study and purposively selected 66 households were unit of analysis. Under case study methodology, descriptive/explanatory research design was used to analyze collected data. The study found that out of total 140 community finance groups, 92 were women led, 6 men led and 42 were jointly led by men and women. And from 66 sample households women are involved in 154 financial groups. The numbers of members in one financial group ranges from 9 to 296 at the time of establishment. A total amount NRs 22 million is saved from financial groups. The natures of groups are mostly unregistered, led by women, small amount of saving and dominated by Brahmin and Chhetri. Community finance has increased saving habit of the members and led them more access to credit facilities. Women are socio-economically and politically empowered due to the impact of community finance. They are participating in community work, becoming self-employed and supported to household economy. The status of the family has been improved. Finally, the study found that, level of education, labour migration, saving/credit and training opportunities are the motivational factors for involving women in community finance.Nepalese Journal of Development and Rural StudiesVol. 14 (Joint issue) (1&2), 2017, Page: 112-123

Limited access to finance is one of the main obstacles for firms located in the Western Balkans and hampers economic growth as well as the transmission of monetary policy. The aim of this paper is to undertake an in-depth analysis of access to finance constraints in this region, where countries as EU candidates or potential candidates have a prospect of joining the European Union. Besides touching upon macroeconomic and banking sector indicators that influence access to finance, this paper empirically assesses firm-level factors that determine whether a firm operating in the Western Balkans is credit-constrained, both in actual and perceived terms. In line with the literature, the results suggest that size, age, location, being audited, having outstanding loans and expectations about future performance matter for actual credit availability. The econometric analysis is complemented by a review of the Western Balkan countries' Economic Reform Programmes, which indicate that financing constraints are tackled by most national authorities through specific policy measures, mostly for small and medium-sized enterprises.

Limited access to finance is one of the main obstacles for firms located in the Western Balkans and hampers economic growth as well as the transmission of monetary policy. The aim of this paper is to undertake an in-depth analysis of access to finance constraints in this region, where countries as EU candidates or potential candidates have a prospect of joining the European Union. Besides touching upon macroeconomic and banking sector indicators that influence access to finance, this paper empirically assesses firm-level factors that determine whether a firm operating in the Western Balkans is credit-constrained, both in actual and perceived terms. In line with the literature, the results suggest that size, age, location, being audited, having outstanding loans and expectations about future performance matter for actual credit availability. The econometric analysis is complemented by a review of the Western Balkan countries' Economic Reform Programmes, which indicate that financing constraints are tackled by most national authorities through specific policy measures, mostly for small and medium-sized enterprises.

PurposeThe purpose of this paper is to test whether Australian female and male entrepreneurs differ in their growth aspirations and demand for finance; denial, discouragement and financial constraint rates; and sources of finance.Design/methodology/approachThis paper applies logistic regression techniques to data drawn from a comprehensive survey of Australian small‐ and medium‐sized businesses, which was conducted in 2010.FindingsAfter controlling for a wide range of firm, owner and risk characteristics, female entrepreneurs are found to have lower growth aspirations than males but do not differ in their demand for business finance. Gender does not influence the probability of reporting denial, discouragement or financial constraint. Females and males do not differ significantly in the types of finance that they use.Research limitations/implicationsThe online survey had a low response rate.Originality/valueFirst, the paper tests the proposition that gender mediates demand for finance whilst controlling for a wide range of firm, owner and risk variables. Second, the paper tests whether female entrepreneurs are more likely than males to be financially constrained, that is, to have foregone viable investment opportunities due to inadequate access to finance. In doing so, it endeavours to reconcile the financial discrimination and financial constraint literatures. Third, the paper tests whether gender produces its effects in interaction with owners' migration status.

PurposeThe study aims to examine the importance of access to finance in firm innovation by using firm-level data from the World Bank enterprise survey (WBES) on selected African countries.Design/methodology/approachThis study utilises firm-level data from the WBES database and computes aggregate innovation index by using multiple correspondent analysis. The authors then apply instrumental variable models (to control for possible endogeneity between innovation and finance) to assess the link between finance and innovation.FindingsThe research finds that finance in the form of overdraft overwhelmingly drives innovation in all selected countries – Cameroon, Kenya, Morocco, Nigeria and South Africa. Trade credit enhances innovation among firms in Nigeria, South Africa and Cameroon, while asset finance drives innovation amongst firms in Cameroon, Nigeria and South Africa.Practical implicationsPolicy incentives such as tax breaks could be put in place for financial intermediaries that have shown proof of extending loans to financially constraint firms to enable them to innovate. Furthermore, different financial institutions such as microfinance institutions can be supported to increase credit to enterprises. Partnerships with organisations willing to fund firms and support start-ups should be encouraged. One of such support mechanisms could be specialised schemes such as a credit guarantee scheme to encourage and secure lending to enterprises to promote innovation.Originality/valueThis paper provides empirical insights into how finance enhances innovation in African enterprises. It also shows how different finance structures (overdraft, asset finance and trade credit) affect firm innovation in different African countries.

This EIF Working Paper outlines the methodology underlying the new EIF SME Access to Finance (ESAF) Index. This newly developed index aims at monitoring developments in SMEs' access to financial resources in the EU and is going to be periodically updated. It fills a gap as such an index does not exist. Composite indicators can be a useful tool in the policy maker's toolbox, as they are able to summarise a complex phenomenon in one summary statistics that is straightforward to track over time, or compare between countries. However, composite indicators also have the reputation of being black boxes. Therefore, we strive for transparency by motivating all methodological considerations made throughout the construction of the ESAF Index.