Determinants of The Accessibility of Vietnamese Enterprises to Capital from Banks and Credit Institutions

Nguyen, Thi Hong Nham

Thông tin siêu dữ liệu biểu ghi

Trường DC	Giá trị	Ngôn ngữ
dc.contributor.author	Nguyen, Thi Hong Nham
dc.contributor.other	To, Trung Thanh
dc.date.accessioned	2023-11-01T10:23:40Z	-
dc.date.available	2023-11-01T10:23:40Z	-
dc.date.issued	2019
dc.identifier.isbn	1939-0020
dc.identifier.uri	https://dlib.neu.edu.vn/handle/NEU/58625	-
dc.description	Economic Investment
dc.description.abstract	The diffilty of enterprises in accessing capital is one of the barriers for development of Vietnamese enterprises in general and small and medium enterprises (SMEs) in particular. Diffilt accessibility to capital forces enterprises to pay additional costs (both formal and informal) in order to obtain loans, thereby increasing their cost of production. This research using the Multilogistic model accesses the factors that inflence accessibility to capital from fiancial institutions (banks and credit institutions) and uses sample survey data from 695 enterprises implemented in December 2017. The research points out that besides the factors related to the business and institutional environment, the factors related to the internal problems of enterprises such as size, ownership form, age of the enterprise, collateral, return on assets (ROA), quality of business reports... or informal expenses, all affct accessibility to loans from fiancial institutions. Based on that, the author proposes a number of recommendations to improve accessibility to these loans for enterprises in general and SMEs in particular in Vietnam in the current period.
dc.description.tableofcontents	1. Introduction; 2. Literature review; 3. Research methodology; 4. Results and Discussion; 5. Conclusions;
dc.format.extent	Khổ 21 x 29.7
dc.language.iso	en
dc.publisher	Kinh Tế Quốc Dân
dc.subject	SMEs
dc.subject	accessibility to capital
dc.subject	diffilties in accessing capital.
dc.title	Determinants of The Accessibility of Vietnamese Enterprises to Capital from Banks and Credit Institutions
dc.type	Journal of Economics and Development
dc.identifier.barcode	Article 6_JED_Vol 21_Special Issue
dc.relation.reference	Beck, T. & Demirgüç-Kun, A. (2006), ‘Small and Medium-Size Enterprises: Overcoming Growth Constraints’, World Bank Policy Research Report, The World Bank, Washington DC. Beck, T., Demirgüç-Kunt, A. & Maksimovic, V. (2008), ‘Financing patterns around the word: Are small Firms Diffrent?’, Journal ofFinancial Economics, 89(3), 467-487. Berger, A.N., Miller, Nathan H., Petersen, Mitchell A., Rajan, Raghuram G. & Stein, Jeremy C. (2005), ‘Does Function Follow Organizational Form? Evidence from the Lending Practices of Large and Small Banks’, Journal of Financial Economics, 76(2), 237–269. Bernanke, B., Reinhard, V. & Sack, B. (2004), ‘Alternatives at the Zero Bound: An Empirical Assessment’, Board of Governors of the Fed’, Finance and Economics Discussion series 2004 – 48, Board of Governors of the Federal Reserve System (US). Bougheas, S., Mizen, P. & Yalcin, C. (2006), ‘Accessibility to external fiance: Theory and evidence on the impact of monetary policy and fim-specifi characteristics’, Journal of Banking & Finance, 30(1), 199-227. Cameron, A.C. & Trivedi, P.K. (2010), Microeconometrics using stata, College Station, Stata Press, TX. Christopher, F., Dorothea, S. & Oleksandr, T. (2009), The Impact of Financial Structure on Firms’ Financial Constraints: A Cross-Country Analysis, DIW Berlin Discussion Paper No. 863, DOI: https://dx.doi. org/10.2139/ssrn.1431344. CIEM (2015), Characteristics of Business Environment in Vietnam: Survey Results of Small and Medium Enterprises in 2015, Finance Publishing House, Hanoi. Cole, R.A., Goldberg, L.G. & White, L.J. (2004), ‘Cookie Cutter Character: The Micro Structure of Small Business Lending by Large and Small Banks’, Journal of Financial and Quantitative Analysis, 39(2), 227-251. Demirguc-Kunt, A. (2006), Finance and Economic Development: Policy Choices for Developing Countries, World Bank Working Paper No. 3955, The World Bank, Washington DC. Fang, J. (2007), ‘Ownership, Institutional Environment and Capital Allocation’ (in Chinese with English Summary), Economic Research Journal, 42(12), 82-92. Fatoki, O.O. & Smit, A.V. (2011), ‘Constraints to credit accessibility by new SMEs in South Africa: a supply side analysis’, The African Journal of Business and Management, 5(4), 1413-1425. General Statistics Offi (2016), Survey results of businesses in 2015, Statistics Publishing House, Hanoi. Gould, W. (1998), ‘HETPROB: Stata module to estimate heteroskedastic probit model’, Statistical Software Components, 1(3), 121-136. Greene, W.H. (2012), Econometric Analysis, 7th Ed., Pearson Education, Boston. Hakkala, A. & Kokko, H. (2007), The State and the Private Sector in Vietnam, Working Paper 236, Stockholm School of Economics, The European Institute of Japanese Studies. Hanedar, E.Y., Altunbas, Y. & Bazzana, F. (2014), ‘Why do SMEs use informal credit? A comparison between countries’, Journal of Financial Management, Markets and Institutions, 2(1), 65-86. Hernandez-Canovas, G. & Martinez-Solano, P. (2008), ‘Relationship between lending and SME fiancing in the continental European bank-based system’, Small Business Economics, 34(1), 45-90. Le, Thi Bich Ngoc & Nguyen, Van Thang (2009), ‘The Impact of Networking on Bank Financing: The Case of Small and Medium ‐Sized Enterprises in Vietnam’, Entrepreneurship Theory and Practice, 33(4), 867-887. Malesky, EJ, & Taussig, M. (2005), ‘Where is Credit Due? Companies, Banks, and Locally Diffrentiated Investment Growth in Vietnam’, Paper presented at the International Conference of Asian Scholars, Shanghai, China, 19-23 June. Muravyev, A., Schäfer, D. & Talavera, O. (2009), ‘Entrepreneurs’ gender and fiancial constraints: Evidence from international data’, Journal of Comparative Economics, 37(2), 270-286. Nguyen, Thi Nhung, Gan, C. & Hu, B. (2015), ‘An empirical analysis of credit accessibility of small and medium sized enterprises in Vietnam’, Banks and Bank Systems, 10(1), 34-46. Nguyen, Van Le (2014), ‘Bank credit to small and Medium enterprises in the Vietnamese unstable macroeconomy’, Economic Phd Dissertation, Banking Academy of Vietnam. Olomi, D., Mori, N., Mduma, E. & Urassa, G. (2008), Constraints to Access to Capital by Tanzanian SMEs, REPOA, Dar es Salaam. Pham, Tien Thanh, Tran, Ly Hieu, Hoang, Quynh Nhu & Nghiem, Thi Phương Hoa (2013), ‘Access to Formal Credit and Firm Performance – the Case of Small and Medium-Sized Enterprises in Vietnam’, Faculty of Business Administration, Ton Duc Thang University. Rand, J. & Tarp, F. (2007), Characteristics of the Vietnamese Business Environment: Evidence from a SME Survey in 2005, A Study Prepared under the Component 5, Business Sector Research of the Danida Funded Business Sector Program Support (BSPS), Finance Publishing House, Hanoi. Tran, Thi Thanh Tu and Dinh, Thi Thanh Van (2015), ‘Financial Development for Small and Medium Enterprises in Hanoi’, VNU Journal of Science and Technology: Economics and Business, 31(3), 21 -31. Tran, Tho Dat & To, Trung Thanh (2018), Vietnam Annual Economic Report 2017: Remove barriers to the development of enterprises, National Economics University Publishing House, Hanoi. Udichibarna, B., Ronald, M. & Serafeim, T. (2015), ‘Policy initiatives and fims’ access to external fiance: Evidence from a panel of emerging Asian economies’, Journal of Corporate Finance, 29(2), 34-56.
Bộ sưu tập	02. Tạp chí (Tiếng Anh)

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Thông tin siêu dữ liệu biểu ghi

Trường DC	Giá trị	Ngôn ngữ
dc.contributor.author	Nguyen, Thi Hong Nham
dc.contributor.other	To, Trung Thanh
dc.date.accessioned	2023-11-01T10:23:40Z	-
dc.date.available	2023-11-01T10:23:40Z	-
dc.date.issued	2019
dc.identifier.isbn	1939-0020
dc.identifier.uri	https://dlib.neu.edu.vn/handle/NEU/58625	-
dc.description	Economic Investment
dc.description.abstract	The diffilty of enterprises in accessing capital is one of the barriers for development of Vietnamese enterprises in general and small and medium enterprises (SMEs) in particular. Diffilt accessibility to capital forces enterprises to pay additional costs (both formal and informal) in order to obtain loans, thereby increasing their cost of production. This research using the Multilogistic model accesses the factors that inflence accessibility to capital from fiancial institutions (banks and credit institutions) and uses sample survey data from 695 enterprises implemented in December 2017. The research points out that besides the factors related to the business and institutional environment, the factors related to the internal problems of enterprises such as size, ownership form, age of the enterprise, collateral, return on assets (ROA), quality of business reports... or informal expenses, all affct accessibility to loans from fiancial institutions. Based on that, the author proposes a number of recommendations to improve accessibility to these loans for enterprises in general and SMEs in particular in Vietnam in the current period.
dc.description.tableofcontents	1. Introduction; 2. Literature review; 3. Research methodology; 4. Results and Discussion; 5. Conclusions;
dc.format.extent	Khổ 21 x 29.7
dc.language.iso	en
dc.publisher	Kinh Tế Quốc Dân
dc.subject	SMEs
dc.subject	accessibility to capital
dc.subject	diffilties in accessing capital.
dc.title	Determinants of The Accessibility of Vietnamese Enterprises to Capital from Banks and Credit Institutions
dc.type	Journal of Economics and Development
dc.identifier.barcode	Article 6_JED_Vol 21_Special Issue
dc.relation.reference	Beck, T. & Demirgüç-Kun, A. (2006), ‘Small and Medium-Size Enterprises: Overcoming Growth Constraints’, World Bank Policy Research Report, The World Bank, Washington DC. Beck, T., Demirgüç-Kunt, A. & Maksimovic, V. (2008), ‘Financing patterns around the word: Are small Firms Diffrent?’, Journal ofFinancial Economics, 89(3), 467-487. Berger, A.N., Miller, Nathan H., Petersen, Mitchell A., Rajan, Raghuram G. & Stein, Jeremy C. (2005), ‘Does Function Follow Organizational Form? Evidence from the Lending Practices of Large and Small Banks’, Journal of Financial Economics, 76(2), 237–269. Bernanke, B., Reinhard, V. & Sack, B. (2004), ‘Alternatives at the Zero Bound: An Empirical Assessment’, Board of Governors of the Fed’, Finance and Economics Discussion series 2004 – 48, Board of Governors of the Federal Reserve System (US). Bougheas, S., Mizen, P. & Yalcin, C. (2006), ‘Accessibility to external fiance: Theory and evidence on the impact of monetary policy and fim-specifi characteristics’, Journal of Banking & Finance, 30(1), 199-227. Cameron, A.C. & Trivedi, P.K. (2010), Microeconometrics using stata, College Station, Stata Press, TX. Christopher, F., Dorothea, S. & Oleksandr, T. (2009), The Impact of Financial Structure on Firms’ Financial Constraints: A Cross-Country Analysis, DIW Berlin Discussion Paper No. 863, DOI: https://dx.doi. org/10.2139/ssrn.1431344. CIEM (2015), Characteristics of Business Environment in Vietnam: Survey Results of Small and Medium Enterprises in 2015, Finance Publishing House, Hanoi. Cole, R.A., Goldberg, L.G. & White, L.J. (2004), ‘Cookie Cutter Character: The Micro Structure of Small Business Lending by Large and Small Banks’, Journal of Financial and Quantitative Analysis, 39(2), 227-251. Demirguc-Kunt, A. (2006), Finance and Economic Development: Policy Choices for Developing Countries, World Bank Working Paper No. 3955, The World Bank, Washington DC. Fang, J. (2007), ‘Ownership, Institutional Environment and Capital Allocation’ (in Chinese with English Summary), Economic Research Journal, 42(12), 82-92. Fatoki, O.O. & Smit, A.V. (2011), ‘Constraints to credit accessibility by new SMEs in South Africa: a supply side analysis’, The African Journal of Business and Management, 5(4), 1413-1425. General Statistics Offi (2016), Survey results of businesses in 2015, Statistics Publishing House, Hanoi. Gould, W. (1998), ‘HETPROB: Stata module to estimate heteroskedastic probit model’, Statistical Software Components, 1(3), 121-136. Greene, W.H. (2012), Econometric Analysis, 7th Ed., Pearson Education, Boston. Hakkala, A. & Kokko, H. (2007), The State and the Private Sector in Vietnam, Working Paper 236, Stockholm School of Economics, The European Institute of Japanese Studies. Hanedar, E.Y., Altunbas, Y. & Bazzana, F. (2014), ‘Why do SMEs use informal credit? A comparison between countries’, Journal of Financial Management, Markets and Institutions, 2(1), 65-86. Hernandez-Canovas, G. & Martinez-Solano, P. (2008), ‘Relationship between lending and SME fiancing in the continental European bank-based system’, Small Business Economics, 34(1), 45-90. Le, Thi Bich Ngoc & Nguyen, Van Thang (2009), ‘The Impact of Networking on Bank Financing: The Case of Small and Medium ‐Sized Enterprises in Vietnam’, Entrepreneurship Theory and Practice, 33(4), 867-887. Malesky, EJ, & Taussig, M. (2005), ‘Where is Credit Due? Companies, Banks, and Locally Diffrentiated Investment Growth in Vietnam’, Paper presented at the International Conference of Asian Scholars, Shanghai, China, 19-23 June. Muravyev, A., Schäfer, D. & Talavera, O. (2009), ‘Entrepreneurs’ gender and fiancial constraints: Evidence from international data’, Journal of Comparative Economics, 37(2), 270-286. Nguyen, Thi Nhung, Gan, C. & Hu, B. (2015), ‘An empirical analysis of credit accessibility of small and medium sized enterprises in Vietnam’, Banks and Bank Systems, 10(1), 34-46. Nguyen, Van Le (2014), ‘Bank credit to small and Medium enterprises in the Vietnamese unstable macroeconomy’, Economic Phd Dissertation, Banking Academy of Vietnam. Olomi, D., Mori, N., Mduma, E. & Urassa, G. (2008), Constraints to Access to Capital by Tanzanian SMEs, REPOA, Dar es Salaam. Pham, Tien Thanh, Tran, Ly Hieu, Hoang, Quynh Nhu & Nghiem, Thi Phương Hoa (2013), ‘Access to Formal Credit and Firm Performance – the Case of Small and Medium-Sized Enterprises in Vietnam’, Faculty of Business Administration, Ton Duc Thang University. Rand, J. & Tarp, F. (2007), Characteristics of the Vietnamese Business Environment: Evidence from a SME Survey in 2005, A Study Prepared under the Component 5, Business Sector Research of the Danida Funded Business Sector Program Support (BSPS), Finance Publishing House, Hanoi. Tran, Thi Thanh Tu and Dinh, Thi Thanh Van (2015), ‘Financial Development for Small and Medium Enterprises in Hanoi’, VNU Journal of Science and Technology: Economics and Business, 31(3), 21 -31. Tran, Tho Dat & To, Trung Thanh (2018), Vietnam Annual Economic Report 2017: Remove barriers to the development of enterprises, National Economics University Publishing House, Hanoi. Udichibarna, B., Ronald, M. & Serafeim, T. (2015), ‘Policy initiatives and fims’ access to external fiance: Evidence from a panel of emerging Asian economies’, Journal of Corporate Finance, 29(2), 34-56.
Bộ sưu tập	02. Tạp chí (Tiếng Anh)