An Empirical Study on Determinants of Loan Repayment Behaviour of SMEs Towards Commercial Banks

India, as a developing economy even after five decades of planning, still has a long way to catch up with the advanced economies of the globe. The goal may be distant, but surely, the time needed to reach can be reduced by accelerating the pace of development. One way of doing this is by the development of industrial and business ventures. There exists a positive relationship between the growth of an economy and the growth of small and medium enterprises (SMEs). SMEs play a vibrant role in the development of an economy. Access to the formal source of credit by entrepreneurs is essential in a growing economy. Lending to SMEs is a risky activity for the banks as repayment of these loans are less guaranteed. The research article attempts to analyse the factors influencing the loan repayment behaviour of SMEs towards commercial banks. Data are collected using the convenience method of sampling from 80 registered SMEs belonging to the manufacturing and service sectors in the Bangalore region, and data are analysed using statistical tools such as correlation and logit regression analysis, conclusions are drawn based on these findings. The study reveals that characteristics of loan and lender influence the repayment to the maximum extent. The findings are helpful for commercial banks in redesigning suitable policies and schemes to reduce loan defaults.

Evaluation of the indirect impact of the 10-valent pneumococcal Haemophilus influenzae protein D conjugate vaccine in a cluster-randomised trial

Background In the nation-wide double-blind cluster-randomised Finnish Invasive Pneumococcal disease trial (FinIP, ClinicalTrials.gov NCT00861380, NCT00839254), we assessed the indirect impact of the 10-valent pneumococcal Haemophilus influenzae protein D conjugate vaccine (PHiD-CV10) against five pneumococcal disease syndromes. Methods Children 6 weeks to 18 months received PHiD-CV10 in 48 clusters or hepatitis B/A-vaccine as control in 24 clusters according to infant 3+1/2+1 or catch-up schedules in years 2009―2011. Outcome data were collected from national health registers and included laboratory-confirmed and clinically suspected invasive pneumococcal disease (IPD), hospital-diagnosed pneumonia, tympanostomy tube placements (TTP) and outpatient antimicrobial prescriptions. Incidence rates in the unvaccinated population in years 2010―2015 were compared between PHiD-CV10 and control clusters in age groups <5 and ≥5 years (5―7 years for TTP and outpatient antimicrobial prescriptions), and in infants <3 months. PHiD-CV10 was introduced into the Finnish National Vaccination Programme (PCV-NVP) for 3-month-old infants without catch-up in 9/2010. Results From 2/2009 to 10/2010, 45398 children were enrolled. Vaccination coverage varied from 29 to 61% in PHiD-CV10 clusters. We detected no clear differences in the incidence rates between the unvaccinated cohorts of the treatment arms, except in single years. For example, the rates of vaccine-type IPD, non-laboratory-confirmed IPD and empyema were lower in PHiD-CV10 clusters compared to control clusters in 2012, 2015 and 2011, respectively, in the age-group ≥5 years. Conclusions This is the first report from a clinical trial evaluating the indirect impact of a PCV against clinical outcomes in an unvaccinated population. We did not observe consistent indirect effects in the PHiD-CV10 clusters compared to the control clusters. We consider that the sub-optimal trial vaccination coverage did not allow the development of detectable indirect effects and that the supervening PCV-NVP significantly diminished the differences in PHiD-CV10 vaccination coverage between the treatment arms.

Early Internationalizing of Small-Medium Firms

Internationalization is not an odd term in business, and increasing numbers in the business world show this phenomenon as a vital element that must be emphasized and practiced by an organization to become the top company in international markets. Born global has become a new entity entering the global market and rapidly evolved to catch up and maintain its pace with international new ventures. Gaining the upper hand in the international market has motivated the born global entity to compete with other giant companies in the same markets. This chapter's findings enlighten the crucial parts of the definition between these two terms supported with previous studies that encompass gaps, conventional and new ventures, and the advantages versus liabilities that existed in the new venture firms. In addition, this chapter's discussions would offer better justification and views in global market perspectives.

Social Impacts of Blockchain Innovations in the Malaysian Socio-Economic Transformation 2030

This chapter highlights the challenges, opportunities, and social impacts of blockchain technology in the creation of a vibrant STIE ecosystem for Malaysia. As a systemic approach, the 10-10 Malaysian Science, Technology, Innovation, and Economy (10-10 MySTIE) Framework outlines the applications of blockchain vis-à-vis nine other technologies in 10 socio-economic sectors or Malaysian Grand Challenges (MGC). As Malaysia embarks on socio-economic transformation into a knowledge-intensive economy by 2030, five challenges must be addressed before leveraging on the opportunities presented by blockchain innovations in the MGCs. The economic and social impacts of blockchain as a catch-up or leap-frogging technology can be further explored to raise the return on value and competitiveness in the corresponding 30 national niche areas. In conclusion, readers may benefit from experiential learning using the process flow for ecosystem development and templates for 8i ecosystem and collaborative platform for carbon footprint using blockchain innovations.

Catch-Up Development VS. Forward-Looking Development: from Theoretical Models to Developmental State Practices

The presented article was carried out within the framework of scientific project dedicated to Russia's participation in the export and import of institutions. The solid question arose that the conditions and specificity of Russia's place in these processes are related to its position in the global world economy. These problems are considered within the framework of competing concepts of catch-up and forward-looking development in the economic literature. Comparative characteristics of methodological foundations, provisions and normative recommendations of these concepts are highlighted in the article. The analysis shows that there is no ground to justify the absolutization of their differences. Representatives of competing approaches came to the conclusion that it was necessary to search for the optimal configuration of imported and genuine institutions at the level of specific problems of development of countries that were largely on the periphery of the modern global economy. This configuration provides productive orientation of economic actors and creation of favorable conditions for the development of Schumpeterian type innovations. The solution of these tasks is linked with the formation and activities of developmental state. The functions of such a state are fundamentally different from compensating market failures that is characteristic of developed market economy. Such a state acts as a subject that forms the basic institutions of the economic system. Fundamental importance is its ability to ensure the combination of selective imports of institutions with the modification of genuine institutions that have historical and cultural specificity. Characteristics of the reasons and conditions for the successful solution of these tasks by countries such as Japan, Taiwan and South Korea, are highlighted in the article. The success stories are compared to the experience of partial failure of developmental state in Brazil. The fulfilled study is of interest not only for positive analysis, but also for the elaboration of normative recommendations for the formation of optimal configuration of imported and genuine institutions in contemporary Russia.