SMEs FINANCING: PATTERNS AND INFLUENCES
This study aims to shed more light on the issues of financing small and medium enterprises (SMEs), by means of the analysis of patterns and relationships that characterize SMEs, relevant sources of their financing and determinants of their financing decisions. In this respect, cluster analysis was u...
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| Format: | Article |
| Language: | English |
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Romanian Foundation for Business Intelligence
2022-12-01
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| Series: | SEA: Practical Application of Science |
| Subjects: | |
| Online Access: |
http://seaopenresearch.eu/Journals/articles/SPAS_30_3.pdf
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| _version_ | 1797975715382034432 |
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| author | Irina Teodora MANOLESCU Sebastian TOCAR |
| author_facet | Irina Teodora MANOLESCU Sebastian TOCAR |
| author_sort | Irina Teodora MANOLESCU |
| collection | DOAJ |
| description | This study aims to shed more light on the issues of financing small and medium enterprises (SMEs), by means of the analysis of patterns and relationships that characterize SMEs, relevant sources of their financing and determinants of their financing decisions. In this respect, cluster analysis was used to investigate the existence of significant differences between European countries in terms of SMEs’ financing. Besides, the paper analyses the impact of financing sources and various determinant factors on the initiation, development and solving of financial problems of SMEs by means of fixed effects panel linear regression models. The results obtained largely confirm authors' expectations, highlighting significant differences between the clusters and the significant influence of the relevance of bank credit, internal sources of financing, government grants and internationalization of the economy on the initiation, development and solving of financial problems of SMEs. |
| first_indexed | 2024-04-11T04:39:54Z |
| format | Article |
| id | doaj.art-230ef70fad1f4a7285b664e7e391bd63 |
| institution | Directory Open Access Journal |
| issn | 2360-2554 |
| language | English |
| last_indexed | 2024-04-11T04:39:54Z |
| publishDate | 2022-12-01 |
| publisher | Romanian Foundation for Business Intelligence |
| record_format | Article |
| series | SEA: Practical Application of Science |
| spelling | doaj.art-230ef70fad1f4a7285b664e7e391bd632022-12-28T06:43:58ZengRomanian Foundation for Business IntelligenceSEA: Practical Application of Science2360-25542022-12-01X30 (3/2022)135152seapas:y:2022:i:30:p:135-152SMEs FINANCING: PATTERNS AND INFLUENCESIrina Teodora MANOLESCU0Sebastian TOCAR1 Department of Management, Marketing and Business Administration, Alexandru Ioan Cuza University of Iasi, Romania Department of Management, Marketing and Business Administration, Alexandru Ioan Cuza University of Iasi, Romania This study aims to shed more light on the issues of financing small and medium enterprises (SMEs), by means of the analysis of patterns and relationships that characterize SMEs, relevant sources of their financing and determinants of their financing decisions. In this respect, cluster analysis was used to investigate the existence of significant differences between European countries in terms of SMEs’ financing. Besides, the paper analyses the impact of financing sources and various determinant factors on the initiation, development and solving of financial problems of SMEs by means of fixed effects panel linear regression models. The results obtained largely confirm authors' expectations, highlighting significant differences between the clusters and the significant influence of the relevance of bank credit, internal sources of financing, government grants and internationalization of the economy on the initiation, development and solving of financial problems of SMEs. http://seaopenresearch.eu/Journals/articles/SPAS_30_3.pdf smessmes financingcluster analysisfixed effects panel linear regression modelcross-european perspective |
| spellingShingle | Irina Teodora MANOLESCU Sebastian TOCAR SMEs FINANCING: PATTERNS AND INFLUENCES SEA: Practical Application of Science smes smes financing cluster analysis fixed effects panel linear regression model cross-european perspective |
| title | SMEs FINANCING: PATTERNS AND INFLUENCES |
| title_full | SMEs FINANCING: PATTERNS AND INFLUENCES |
| title_fullStr | SMEs FINANCING: PATTERNS AND INFLUENCES |
| title_full_unstemmed | SMEs FINANCING: PATTERNS AND INFLUENCES |
| title_short | SMEs FINANCING: PATTERNS AND INFLUENCES |
| title_sort | smes financing patterns and influences |
| topic | smes smes financing cluster analysis fixed effects panel linear regression model cross-european perspective |
| url |
http://seaopenresearch.eu/Journals/articles/SPAS_30_3.pdf
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| work_keys_str_mv | AT irinateodoramanolescu smesfinancingpatternsandinfluences AT sebastiantocar smesfinancingpatternsandinfluences |