This paper aims to explore the role of financial literacy, risk preference, and home bias in Minangkabau ethnic SME financing decisions, and whether their financing pattern follow the pecking order theory. The theoretical framework model was developed to determine the impact of financial...

Financing research and development (R&D) through loans is usually a costly endeavor. Information asymmetry, outcome uncertainty and low collateral value tend to increase the cost of debt. Based on a large panel of heterogeneous firms, this study shows that recipients of public R&D grants, on...