Du, Jun and Nguyen, Bach (2021). Cognitive Financial Constraints and Firm Growth. Small Business Economics, 58 , pp. 2109-2137.
Abstract
This study distinguishes entrepreneurs’ cognitive financial constraints from financial supply constraints and assesses their relative importance to small business growth. Drawing from the literature on cognitive styles and institutional theory, we argue that small businesses’ financial constraints derive not only from financial market failures but also from the cognitive factors of entrepreneurs. Analysing a comprehensive dataset of more than 200,000 small businesses in Vietnam, we show that both financial supply and cognitive financial constraints impede firm growth. Given this significantly deleterious effect, the cognitive financial constraints originating from the demand side of firm financing deserve more attention.
Publication DOI: | https://doi.org/10.1007/s11187-021-00503-7 |
---|---|
Divisions: | College of Business and Social Sciences > Aston Business School > Centre for Personal Financial Wellbeing College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship College of Business and Social Sciences > Aston Business School |
Publication ISSN: | 1573-0913 |
Last Modified: | 08 Nov 2024 08:19 |
Date Deposited: | 27 Apr 2021 15:20 |
Full Text Link: | |
Related URLs: |
https://link.sp ... 187-021-00503-7
(Publisher URL) |
PURE Output Type: | Article |
Published Date: | 2021-06-15 |
Accepted Date: | 2021-04-01 |
Authors: |
Du, Jun
(
0000-0002-0449-4437)
Nguyen, Bach ( 0000-0003-1527-7443) |
Download
Version: Accepted Version
Access Restriction: Restricted to Registered users only
Version: Published Version
License: Creative Commons Attribution
| Preview