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Influence Of Family'S Social Relationships On The Debt Structure Of Mexican-American And Korean-American Small Businesses

Author

Listed:
  • GEORGE W. HAYNES

    (Department of Agricultural Economics and Economics, 210E Linfield Hall, Montana State University, Bozeman, MT 59717, USA)

  • JOSEPH I. ONOCHIE

    (Department of Economics and Finance, Box B 10-225, Zicklin School of Business, Baruch College, C.U.N.Y., One Bernard Baruch Way, New York, NY 10010, USA)

  • YOON LEE

    (Department of Family, Consumer and Human Development, Utah State University, 2905 Old Main Hill, USA)

Abstract

This study utilizes the Korean-American and Mexican-American samples in the National Minority Business Survey to examine the debt structure of small businesses owned by individuals from these ethnic groups. Small business owners with higher household net worth were more likely to borrow from finance companies, friends, and credit card companies. When controlling for business, business owner and family characteristics, Mexican-American small business owners with high net worth were significantly more likely to borrow from commercial banks than Mexican-American small business owners with low net worth are. Korean-American small business owners with high net worth were significantly more likely to utilize family loans than Korean-American small business owners with low net worth are. Korean-American small businesses appeared to be more financially dependent on the financial strength of their community, while Mexican-American small businesses owners appeared to be more financially independent.

Suggested Citation

  • George W. Haynes & Joseph I. Onochie & Yoon Lee, 2008. "Influence Of Family'S Social Relationships On The Debt Structure Of Mexican-American And Korean-American Small Businesses," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 13(03), pages 343-361.
    • Handle: RePEc:wsi:jdexxx:v:13:y:2008:i:03:n:s1084946708001022
    DOI: 10.1142/S1084946708001022
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    References listed on IDEAS

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    1. Una Okonkwo Osili & Anna L. Paulson, 2006. "What can we learn about financial access from U.S. immigrants?," Working Paper Series WP-06-25, Federal Reserve Bank of Chicago.
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    Cited by:

    1. Craig Wesley Carpenter & Scott Loveridge, 2018. "Differences Between Latino-Owned Businesses and White-, Black-, or Asian-Owned Businesses: Evidence From Census Microdata," Economic Development Quarterly, , vol. 32(3), pages 225-241, August.
    2. Marilyn Young & John James Cater & Kevin James, 2019. "Examining Barriers To Success And Sources Of Assistance For U.S. Hispanic Female Entrepreneurs," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 24(02), pages 1-22, June.
    3. Bryan Malki & Timur Uman & Daniel Pittino, 2022. "The entrepreneurial financing of the immigrant entrepreneurs: a literature review," Small Business Economics, Springer, vol. 58(3), pages 1337-1365, March.

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