scholarly journals Influence of Access To Finance On The Competitive Growth of SMEs in Lesotho.

2021 ◽  
Author(s):  
Donald Edes Osakpamwan Amadasun ◽  
Ashley T. Mutezo
Keyword(s):  
Financial Market ◽  
Developing Economies ◽  
Information Access ◽  
Support Service ◽  
Financial Information ◽  
Financial Policy ◽  
Competitive Growth ◽  
Access To Finance ◽  
Business Support ◽  
Funding Programs

Abstract Background: Access to finance is identified as one of the biggest problems faced by Small and Medium-Sized Enterprises (SMEs) in most developing economies. Consequently, access to finance has been identified as a dominant constraint facing the SMEs sector in Lesotho. This paper established the factors of access to finance that influence the competitive growth of the SME sector in Lesotho. The factors addressed include financial information access, bank and business support services, the structure of banks and collateral requirements by the financial sector. Findings: The results from our analysis indicated that there is a relationship between independent variables of financial information access, Bank and business support service, the structure of banks and the collateral requirement by commercial banks and such influence SMEs capacity to attain competitive growth in Lesotho. In addition, the results indicated that Basotho entrepreneurs and managers see the predictors as critical factors of access to finance that constrained most enterprises access to needed credit from banks and such influence SMEs capacity to attain competitive growth in Lesotho. Conclusions: The study concludes that access to finance significantly affect the competitive growth of SMEs in Lesotho. Thus, this study suggests that several specific and harmonized financial policy actions are needed in the Lesotho financial market to identify enabling policy that ease enterprises access to adequate funding programs. These funding programs should target improved financial schemes that are coordinated, competitive and directed towards SMEs access to finance; harmonized credit policy which guarantees a win-win for SMEs loan applicants and the financial market operators.

scholarly journals Perception of the Selected Business Environment Aspects by Service Firms

2019 ◽  
Vol 10 (19) ◽  
pp. 111-127 ◽  
Author(s):  
Khurram Ajaz Khan ◽  
Gentjan Çera ◽  
Vaclav Netek
Keyword(s):  
Factor Analysis ◽  
Service Sector ◽  
Business Environment ◽  
Service Firms ◽  
Business Sector ◽  
Similar Group ◽  
Access To Finance ◽  
Business Support ◽  
Service Sectors ◽  
Macroeconomic Environment

The business environment is a profound concern for the state and institutions to make it encouraging to boost entrepreneurship. Given such relevance of the business environment, this paper aims to link selected business environment aspects to business sector. The study identified the perceived differences between sectors in the Czech and Slovak Republics and then a comparison of a similar group of firms. To shape the study, survey-based research planned and conducted in two segments of firm’s (service and non-service), covered 641 enterprises. The current research adopted factor analysis and then t-test and Mann-Whitney test to determine the results. The major findings of the study reveal that the Slovak firms in the service sector scored higher in macroeconomic environment, consumers’ consumption and competition factors and lower in access to finance factor, as compared to their non-service counterparts. However, another key finding indicates that the Czech entrepreneurs’ perception did not statistically differ in any selected aspects of business environment between the firms operating in service and non-service sectors. In all the cases business support was found insignificant. This paper adds to the existing literature in entrepreneurship by offering a better understanding of the linkage between business sector and business environment aspects.

Corporate social responsibility, market reaction and accounting conservatism

Kybernetes ◽  
2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xixi Shen ◽  
Kung-Cheng Ho ◽  
Lu Yang ◽  
Leonard Fong-Sheng Wang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Information Disclosure ◽  
Market Reaction ◽  
Financial Information ◽  
Accounting Conservatism ◽  
Estimation Methods ◽  
Financial Policy ◽  
Content Type ◽  
Corporate Social

Purpose Non-financial information disclosure may reflect the quality of corporate financial reports or disclosure policy choices. The authors examine the relationship between corporate social responsibility (CSR) and accounting conservatism and also investigate channels through which such effects are transmitted. The purpose of this paper is to explore how CSR, as non-financial information that has received widespread attention, affects choices regarding corporate financial policy. Design/methodology/approach Using ordinary least squares regression, the authors analyze China CSR Score data for 2010–2018. They control certain influencing variables related to the nature and characteristics of enterprises and discover that CSR can effectively increase accounting conservatism. Then, they extract the components of market reactions to CSR and study the market reaction path of CSR as it affects financial policy. They also conduct a robustness test to ensure that the results are not accidental in a complex environment. Findings The results reveal the influence of non-financial information on firms’ financial policy. In addition, the results confirm the attraction of liquidity and investor attention as the major market reaction channels by which CSR significantly promotes accounting conservatism. Additionally, other critical paths of influence deserve further exploration. The results remain robust for alternate measures of accounting conservatism, different components of CSR, other proxies on CSR, endogenous testing and alternate estimation methods. Originality/value The study represents the first analysis of the influence of CSR information disclosure on accounting conservatism in emerging markets, and it undertakes a preliminary exploration to clarify the mechanism of CSRs’ role in accounting conservatism. The results also provide a policy reference for external supervision and internal governance of enterprises. Thus, the results can help company managers maintain a favorable corporate image and establish a high-level investor protection mechanism.

scholarly journals The Value Relevance of Financial Information Under the Influence of Country Risks. The Case of the Indian Listed Companies

2016 ◽  
Vol 9 (2) ◽  
pp. 77-93 ◽  
Author(s):  
Ioan-Bogdan Robu ◽  
Mihai Carp ◽  
Costel Istrate ◽  
Cristian Popescu ◽  
Mihaela-Alina Robu
Keyword(s):  
Financial Market ◽  
Linear Models ◽  
Value Relevance ◽  
Financial Statements ◽  
Country Risk ◽  
Financial Information ◽  
Decision Making Process ◽  
Accounting Numbers ◽  
Set Up ◽  
Over Time

AbstractIn the decision-making process investors need quality financial information based on reported accounting numbers. Such numbers are present in financial statements and must meet a series of fundamental characteristics, such as relevance and faithful representation. The present paper aims to analyse and assess the value relevance of financial information on the financial market in India under the influence of the main country risk components (i.e. economic risk and freedom to set up businesses, corruption control, financial, fiscal, monetary and investment freedom). The research was carried out on a sample of companies listed on the regulated market in India between 2006 and 2014. The results of applying general linear models have shown that, over time, the country risk can have a significant influence on the value relevance of the financial statements reported at the financial market level.

Street-Level Technocracy in UK Small Business Support: Business Links, Personal Business Advisers, and the Small Business Service

10.1068/c0112 ◽  
2002 ◽  
Vol 20 (2) ◽  
pp. 179-194 ◽  
Author(s):  
Kevin Mole
Keyword(s):  
Small Business ◽  
Tacit Knowledge ◽  
Small Businesses ◽  
Support Service ◽  
Recent Attempt ◽  
Business Service ◽  
Business Policy ◽  
Street Level ◽  
Business Support ◽  
The Uk

The broad focus of this paper is the divergence of implemented policy from intended policy in UK small business support. The Small Business Service (SBS) is the United Kingdom's most recent attempt to provide coherent support for small business. With its structure of local franchisees and multiagency partnerships, the SBS is part of the United Kingdom's Modernising Government agenda, which aims to provide ‘joined-up’ and responsive public services. However, it is not always easy for policymakers to execute new plans in the form in which they were intended. Street-level bureaucracies develop where those who implement complex policies amend them to make them easier to apply in practice. This paper investigates the UK Business Links' Personal Business Adviser (PBA) service. The paper draws on data from a focus group often PBAs and subsequent survey of the 175 PBAs in England and Wales conducted in summer 1998. The experience and tacit knowledge of PBAs provides the expertise for a bespoke support service to small businesses. Business advisers have both technical expertise and closeness to delivery that confers the power to amend small business policy. This tacit knowledge confers powers akin to a ‘street-level technocracy’. Thus, policies that do not carry PBA support, such as targeting, are unlikely to be implemented effectively. A new approach to small business support has been formed from the difficulty in controlling PBAs through performance indicators, which appear to have distorted the intended policy, and the Modernising Government agenda. The new SBS devolves the operation, but not all control, of business advice from the national SBS to local Business Links. PBAs will play a major part in the network mode of governance of the new SBS franchisees.

scholarly journals Exceptions of banking secrets for the interest of taxes in Indonesia (a comparison of the post-birth of access law to financial information)

2020 ◽  
Vol 28 (2) ◽  
Author(s):  
Upik Mutiara ◽  
Ika Khairunnisa Simanjuntak ◽  
Rahmad Ramadhan Hasibuan ◽  
Amiludin Amiludin
Keyword(s):  
Research Method ◽  
Information Access ◽  
Financial Information ◽  
Research Approach ◽  
Exchange Of Information ◽  
Analytical Research

Act Number 7 of 1992 as amended by Act Number 10 of 1998 concerning Banking and several related rules already regulates the exclusion of banking secrets, especially for tax purposes. However, the existing mechanism has not been able to accommodate the exchange of financial information within the framework of the Automatic Exchange of Information (AEOI). Then the Financial Information Access Act was formulated which regulates the automatic exchange of financial information that has never been known before. The problems discussed in this study, how are the exceptions of bank secrets for tax purposes that have been carried out in Indonesia and how are bank secrets exceptions regulated in the Financial Information Access Act. The research method used is a normative juridical method with a descriptive-analytical research approach. The results of the study found that the exception of bank secrets has long been known in Indonesia but is still limited by a convoluted bureaucracy. Whereas in the Financial Information Access Act, exceptions take place automatically but there are sanctions for those who misuse information.

scholarly journals The importance of Marketing for Micro and Small Enterprises

2020 ◽  
pp. 28-40
Author(s):  
Vinícius Cardoso de Oliveira ◽  
Carla Viana Dendasck
Keyword(s):  
Small Business ◽  
Support Service ◽  
Digital Marketing ◽  
Small Enterprises ◽  
Small Companies ◽  
Basic Principles ◽  
Strategic Posture ◽  
Business Support ◽  
Micro And Small Enterprises

According to (Sebrae-Brazilian Micro and Small Business Support Service), in 2018, micro and small companies accounted for 52% of employment positions, and correspond to 99% of existing companies in Brazil. However, even with this representativeness 58% of these companies manage to exceed five years of existence. It is estimated that this high percentage of mortality of organizations is related to the lack of planning and adoption to the basic principles of administration. This article aims to conduct a reflection, using the methodology of bibliographic review, on the importance of marketing for these organizations, as well as the need for entrepreneurs to adopt a strategic posture through marketing possibilities, especially in relation to Digital Marketing, thus ensuring the sustainability of the organization.

scholarly journals A Comparative Study on Automatic Financial Exchange between Indonesia and Malaysia

Rechtsidee ◽  
2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Bambang Sugeng Ariadi Subagyono ◽  
Agus Yudha Hernoko ◽  
Zahry Vandawati Chumaida
Keyword(s):  
Law Enforcement ◽  
Information Exchange ◽  
Information Access ◽  
Competent Authority ◽  
Financial Information ◽  
Banking And Finance ◽  
Financial Account ◽  
Inland Revenue ◽  
Account Information ◽  
One Year

Taxpayer data and information from banking and finance institution could be guidance on any development. Therefore, it could be a corrective act to do the law enforcement on increasing Inland Revenue. Financial information exchange regarded to tax interests, besides by demanding way also could automatically way done (Automatic Exchange of Financial Account Information/AEol). Indonesia commitment was manifested by Multilateral Competent Authority Agreement signed after AEOI on 3rd June 2015. Indonesia agreed to start the financial information exchange automatically on September 2018. The followed-up Indonesia government commitment was on 8th May 2017. It had approved the financial information access no.1 2017 legislations as to tax interests. Then, one year later was set to be no.9 2017 legislations.

scholarly journals Cognitive Modeling of Sustainability of the Russian Financial Market

2019 ◽  
Vol 10 (6) ◽  
pp. 145
Author(s):  
Nemer Badwan ◽  
Elena Panfilova
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Cognitive Modeling ◽  
Foreign Exchange Market ◽  
Cumulative Effect ◽  
Financial Policy ◽  
Constant Attention ◽  
Priority Direction ◽  
The Stability ◽  
Near Future

Object: The stability of the financial market is one of the most important components of the inflow of capital into the country and ensuring economic growth. Cognitive modeling of stability of the Russian financial market is carried out.Purposes: Drawing up a cognitive map of the Russian financial market, impulse modeling of changes in its segments in order to find the main factors of stability of the national financial market.Methodology: Cognitive research methods: cognitive analysis and cognitive modeling.Result of research: The stability of the financial market is formed due to the cumulative effect of all its segments. However, the Russian financial market is most sensitive to changes in the money market, foreign exchange market, corporate and government borrowing market. Despite the sanction’s restrictions, the domestic market remains dependent on international financial markets.Application: The results are applicable in the formation of financial and monetary policy of the country.Summary: Achieving stability in the financial market requires constant attention from the regulator for liquidity in the market, stability and predictability of the national currency. The priority direction of development of the state financial policy in the near future should be the establishment of relations with leading players in the world financial markets and international financial institutions.

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