IDEAS home Printed from https://ideas.repec.org/a/bla/afrdev/v29y2017i4p648-659.html
   My bibliography  Save this article

Financement Bancaire des Petites et Moyennes Entreprises au Cameroun

Author

Listed:
  • André Dumas Tsambou
  • Christian Zamo Akono
  • Ludwick Ndokang Esone
  • Roger Tsafack Nanfosso

Abstract

Le présent travail a pour objectif d'identifier les déterminants du financement bancaire des PME camerounaises. Il s'appuie pour cela sur l'enquête « Formulation d'un Plan de Développement Local des PME au Cameroun » réalisée auprès de 413 PME par le ministère des petites et moyennes entreprises, de l'économie sociale et de l'artisanat (MINPMEESA) du Gouvernement camerounais et l'Agence Japonaise de Coopération Internationale (JICA). Nous utilisons un modèle logit simple et les méthodes d'estimations récentes. L'analyse statistique des données révèle que les PME autofinancent leurs activités à court terme et font recours aux institutions financières à long terme. L'analyse économétrique a montré que les principaux déterminants du financement des PME sont la présence régulière des effets financiers, la qualité des garanties offertes, la taille de la PME, la rentabilité et le capital social (appartenance aux réseaux sociaux, participation des étrangers au capital, soutien des autorités gouvernementales). Cependant, les relations sociales qui sont des indicateurs du degré de confiance des PME améliorent significativement la probabilité d'accès au financement bancaire en réduisant le degré d'opacité des PME aux yeux du banquier.The present work aims to identify the determinants of financing banking Cameroonian SMEs. It is based on the survey ‘Formulation of Local Development Plan for SMEs in Cameroon’ conducted among 413 SMEs by the Ministry of Small and Medium Enterprises, Social Economy and Handicraft (MINPMEESA) Government of Cameroon and Japan International Cooperation Agency (JICA). We use a simple logit model and robust statistical tests. The results of our analysis reveal that SMEs in the short term self†finance their business while in the long run they use financial institution funds. Moreover, analysis of the determinants of their access to external finance reveal that the main determinants of SME financing are: regular presence of financial effects, the cost of financing, quality guarantees, the SME size, its profitability, the skills of the manager and the social capital. The latter significantly improves SMEs' conditions of access to credit by reducing their degree of opacity in the eyes of bankers.

Suggested Citation

  • André Dumas Tsambou & Christian Zamo Akono & Ludwick Ndokang Esone & Roger Tsafack Nanfosso, 2017. "Financement Bancaire des Petites et Moyennes Entreprises au Cameroun," African Development Review, African Development Bank, vol. 29(4), pages 648-659, December.
    • Handle: RePEc:bla:afrdev:v:29:y:2017:i:4:p:648-659
    DOI: 10.1111/1467-8268.12302
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-8268.12302
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-8268.12302?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kevin Williams, 2016. "Remittances and Financial Development: Evidence from Sub-Saharan Africa," African Development Review, African Development Bank, vol. 28(3), pages 357-367, September.
    2. John Rand, 2007. "‘Credit Constraints and Determinants of the Cost of Capital in Vietnamese Manufacturing’," Small Business Economics, Springer, vol. 29(1), pages 1-13, June.
    3. Tajudeen Egbetunde & Anthony Enisan Akinlo, 2015. "Financial Globalization and Economic Growth in Sub-Saharan Africa: Evidence from Panel Cointegration Tests," African Development Review, African Development Bank, vol. 27(3), pages 187-198, September.
    4. Christian Lambert Nguena et Roger Tsafack Nanfosso, 2014. "Facteurs Microéconomiques du Déficit de Financement des PME au Cameroun," African Development Review, African Development Bank, vol. 26(2), pages 372-383, June.
    5. Myers, Stewart C., 1984. "Capital structure puzzle," Working papers 1548-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    6. Manel Zidi & Mouldi Djelassi & Helmi Hamdi, 2016. "Pouvoir de marché et stabilité financière: Etude du secteur bancaire Tunisien," Post-Print halshs-01902743, HAL.
    7. Myers, Stewart C, 1984. "The Capital Structure Puzzle," Journal of Finance, American Finance Association, vol. 39(3), pages 575-592, July.
    8. Stewart C. Myers, 1984. "Capital Structure Puzzle," NBER Working Papers 1393, National Bureau of Economic Research, Inc.
    9. James S. Ang, 1991. "Small Business Uniqueness and the Theory of Financial Management," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 1(1), pages 1-13, Spring.
    10. Moro, Andrea & Fink, Matthias, 2013. "Loan managers’ trust and credit access for SMEs," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 927-936.
    11. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    12. Manel Zidi & Mouldi Djelassi & Helmi Hamdi, 2016. "Pouvoir de marché et stabilité financière: Etude du secteur bancaire Tunisien," African Development Review, African Development Bank, vol. 28(4), pages 416-429, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Diana Hechavarría & Charles Matthews & Paul Reynolds, 2016. "Does start-up financing influence start-up speed? Evidence from the panel study of entrepreneurial dynamics," Small Business Economics, Springer, vol. 46(1), pages 137-167, January.
    2. Bruder, Jana & Neuberger, Doris & Räthke-Döppner, Solvig, 2008. "Financial constraints of ethnic entrepreneurship: Evidence from Germany," Thuenen-Series of Applied Economic Theory 84, University of Rostock, Institute of Economics.
    3. Cheng, Chao & Yang, Liu, 2022. "What drives the credit constraints faced by Chinese small and micro enterprises?," Economic Modelling, Elsevier, vol. 113(C).
    4. Cristina Martínez-Sola & Pedro J. García-Teruel & Pedro Martínez-Solano, 2018. "Cash holdings in SMEs: speed of adjustment, growth and financing," Small Business Economics, Springer, vol. 51(4), pages 823-842, December.
    5. Linda Bergset, 2015. "The Rationality and Irrationality of Financing Green Start-Ups," Administrative Sciences, MDPI, vol. 5(4), pages 1-26, November.
    6. Geert Campenhout & Tom Caneghem, 2013. "How did the notional interest deduction affect Belgian SMEs’ capital structure?," Small Business Economics, Springer, vol. 40(2), pages 351-373, February.
    7. Hogan, Teresa & Hutson, Elaine, 2005. "Capital structure in new technology-based firms: Evidence from the Irish software sector," Global Finance Journal, Elsevier, vol. 15(3), pages 369-387, February.
    8. Cardone Riportella, Clara & Cazorla Papis, Leonardo, 2001. "New approaches to the analysis of the capital structure of SME's: empirical evidence from Spanish firms," DEE - Working Papers. Business Economics. WB wb011003, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    9. Tom Caneghem & Geert Campenhout, 2012. "Quantity and quality of information and SME financial structure," Small Business Economics, Springer, vol. 39(2), pages 341-358, September.
    10. Cardone Riportella, Clara & Casasola, María José, 2003. "What do we know about the financial behaviour of the Spanish SME?: an empirical analysis," DEE - Working Papers. Business Economics. WB wb033708, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    11. Van Campenhout, Geert & Van Caneghem, Tom, 2009. "Information Availability, Information Quality and the Financial Structure of Belgian SME's," Working Papers 2009/27, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
    12. Paola Bongini & Annalisa Ferrando & Emanuele Rossi & Monica Rossolini, 2021. "SME access to market-based finance across Eurozone countries," Small Business Economics, Springer, vol. 56(4), pages 1667-1697, April.
    13. Diana M. Hechavarría & Charles H. Matthews & Paul D. Reynolds, 2016. "Does start-up financing influence start-up speed? Evidence from the panel study of entrepreneurial dynamics," Small Business Economics, Springer, vol. 46(1), pages 137-167, January.
    14. Rossi, Emanuele & Bongini, Paola & Ferrando, Annalisa & Rossolini, Monica, 2017. "Suitable or non-suitable? An investigation of Eurozone SME access to market-based finance," CEPR Discussion Papers 12006, C.E.P.R. Discussion Papers.
    15. Philippe Adair, 2014. "Théorie du compromis versus Théorie du financement hiérarchique : une analyse sur un panel de PME non cotées," Post-Print hal-01667235, HAL.
    16. Amarjit Gill & Craig Wilson, 2021. "Bank connections and small business performance: Evidence from Canadian survey data," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5110-5134, October.
    17. Xin Qu & Majella Percy & Fang Hu & Jenny Stewart, 2022. "Can CEO equity‐based compensation limit investment‐related agency problems?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(2), pages 2579-2614, June.
    18. Keming Li, 2021. "The effect of option trading," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-32, December.
    19. John S. Strong & John R. Meyer, 1990. "Sustaining Investment, Discretionary Investment, and Valuation: A Residual Funds Study of the Paper Industry," NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 127-148, National Bureau of Economic Research, Inc.
    20. Ana Venâncio & João Jorge, 2022. "The role of accelerator programmes on the capital structure of start-ups," Small Business Economics, Springer, vol. 59(3), pages 1143-1167, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:afrdev:v:29:y:2017:i:4:p:648-659. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/afdbgci.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.