This study examines the influence of revenue diversification on the financial performance of 212 deposit-taking savings and credit co-operatives (SACCOs) in Kenya over the period 2008–2013. An analysis of other factors influencing the financial performance of SACCOs is carried out. The...

What kind of firms should be saved by the government during an economic downtown? Previous research indicates that firms with growth potential instead of zombie firms should be saved, and firms that are most distressed should be subsidized. This paper provides a new perspective and suggests that...

Relative to their counterparts in high-income regions, entrepreneurs in developing countries face less efficient financial markets, more volatile macroeconomic conditions, and higher entry costs. This paper develops a dynamic empirical model that links these features of the business environment...