Foreign investments contribute massively to the increase of business profitability. Attraction and efficient allocation of capital inflows (mainly in the form of high quality investment made at microeconomic level) represent the main "engine" for GDP growth in medium and long term. This will...

We use the history of private limited liability companies (PLLCs) to challenge two pervasive assumptions in the literature: (1) Anglo-American legal institutions were better for economic development than continental Europe’s civil-law institutions; and (2) the corporation was the superior form...

This study investigates the impact of financial resource availability on entrepreneurial orientation (EO), customer orientation (CO) and on growth in small- and medium-sized enterprises (SME) in Austria and Hungary. Structural equation modeling revealed that financial resource availability is...

We study factors affecting micro, small and medium-sized enterprises (MSMEs) receiving loans and the effect of these loans on MSMEs performance. We study two types of loans – a new type based on cash flows and a traditional-style loan based on collateral. We use unique surveys of MSMEs from...

Between one-half and two-thirds of strategic alliances formed by Small and Medium Enterprises (SMEs) fail to realize their purpose due to unmitigated risk factors. Most studies on strategic alliances and associated risks focus on developed economies. Using the Kenyan case, this study sheds light...

This paper investigates the effect of economic uncertainty on the performance of small and medium enterprises (SMEs) over the period 2007–2016. This paper also examines the effects of ownership structure on the relation between Economic Uncertainty and firm performance. We find that an...

This paper tests whether local financial development matters for SMEs' growth performance. We develop a theoretical model framework based on banks' and firms' profit-maximizing behavior that critically hinges upon credit default risk ratio. We argue that an expansion of branch network would...

This paper provides a policy-oriented summary of the econometric study commissioned by the European Court of Auditors, in the context of its audit of EU-funded loan guarantee instruments.2 The study assesses the real performance effects of EU-guaranteed loans to SMEs disbursed in France during...

We use the history of private limited liability companies (PLLCs) to challenge two pervasive assumptions in the literature: (1) Anglo-American legal institutions were better for economic development than continental Europe's civil-law institutions; and (2) the corporation was the superior form...