Financing difficulties factors of the Latin American Smes
Keywords:
SMEs, Credit Constraints.Abstract
This article provides an analysis of the determinants of credit constraints in Latin American SMEs, for which each firm has been classified as NCC (Not Credit Constrained) if it has enough capital and FCC (Full Credit Constrained) if it has applied for bank credit but it was rejected or if it has not applied for external banking founds due to the terms and conditions.
In this investigation the Enterprise Survey (ES) 2010 from the World Bank was used and Latin American SMEs were selected.
In order to provide proofs about, which are the variables that influence in the probability of being NCC, a logistic regression analysis was made. This analysis was broken down in two levels: for each subsample country and in a general way. In this last case, firstly it was carried out a cluster analysis in order to group the countries and take into account their differences in terms of economic development and banking sector structure was carried out.
In relation, to the logistic regression results, it can be highlighted that the variables “Quality-Certification”, “Sector” and “Sales Level” are significant (p <0,01, p <0,01 y p <0,05, respectively) and all of them have a positive relationship with the dependent variable (NCC).
Downloads
Metrics
Downloads
Published
How to Cite
Issue
Section
License
Those authors who have publications with this journal, agree with the following terms:
a. Authors will retain its copyright and will ensure the rights of first publication of its work to the journal, which will be at the same time subject to the Creative Commons Atribución-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0) allowing third parties to share the work as long as the author and the first publication on this journal is indicated.
b. Authors may elect other non-exclusive license agreements of the distribution of the published work (for example: locate it on an institutional telematics file or publish it on an monographic volume) as long as the first publication on this journal is indicated,
c. Authors are allowed and suggested to disseminate its work through the internet (for example: in institutional telematics files or in their website) before and during the submission process, which could produce interesting exchanges and increase the references of the published work. (see The effect of open Access)
