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The Impact of Access to Finance on the Performance of the SME Sector

Author

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  • Erika-Maria Doaca

    (Alexandru Ioan Cuza†University of Iasi)

Abstract

In this research paper we aimed to analyze the impact of access to finance on the performance of SMEs. The aim of the research is to evaluate empirically and analyze the effects of changes in the macroeconomic environment, in particular the access of bank loans to companies on the performance of SMEs. In order to reflect a more realistic picture of the influence of macroeconomic factors on the performance of the SME sector, the analysis covered a period of 10 years (2009-2018). Overall, the empirical study reveals that the main determinants of SME sector performance are gross capital formation and real GDP growth rate.

Suggested Citation

  • Erika-Maria Doaca, 2021. "The Impact of Access to Finance on the Performance of the SME Sector," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 993-1002, December.
    • Handle: RePEc:ovi:oviste:v:xxi:y:2021:i:2:p:993-1002
    as

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    References listed on IDEAS

    as
    1. Beck, Thorsten & Demirguc-Kunt, Asli & Laeven, Luc & Maksimovic, Vojislav, 2006. "The determinants of financing obstacles," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 932-952, October.
    2. Roman Angela & Rusu Valentina Diana, 2012. "The Access Of Small And Medium Size Enterprises To Banking Financing And Current Challanges: The Case Of Eu Countries," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(14), pages 1-21.
    3. Angela Roman, 2011. "The Access To Financing Of Small And Medium Enterprises In Romania And Implications Of Current Crisis," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 2011, pages 101-113, july.
    4. Angela ROMAN & Valentina Diana RUSU, 2011. "Constraints On Bank Lending To Smes From Romania And Supportive Measures," EuroEconomica, Danubius University of Galati, issue 5(30), pages 21-38, December.
    5. Mirgul Nizaeva & Ali Coskun, 2019. "Investigating the Relationship Between Financial Constraint and Growth of SMEs in South Eastern Europe," SAGE Open, , vol. 9(3), pages 21582440198, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    access to finance; SME performance; macroeconomic environment; added value;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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