Access to finance: innovative firms’ perceptions in post-transition EU members

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dc.contributor.authorBotrić, Valerija
dc.contributor.authorBožić, Ljiljana
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2017-03-21
dc.date.available2017-03-21
dc.date.issued2017-03-15
dc.description.abstractThe post-transition EU member countries generally have to catch up with EU most developed economies in many aspects. Access to finance problems in these countries are potentially harmful to development of entrepreneurship, innovation performance and overall growth, leading to further lagging behind more advanced market economies. In this paper we analyse perceptions on access to finance in post-transition EU member countries. Special focus in the paper has been put on the differences between innovative and non-innovative firms. Furthermore, we seek to identify the characteristics of the firms that contribute to the gap formation. Empirical analysis in this paper relies on the latest available Business Environment Survey (BEEPS V), covering the 2012-2013 period. The sample in this study consists of 3,393 firms from eleven central and eastern European countries – EU members (Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia). The analysis expectedly revealed that innovative firms perceive financing constraints to be more important for their business, but somewhat unexpectedly the differences across countries are present. Although access to finance is more likely to be perceived as a problem by innovative firms, the firms that are either a segment of larger enterprise or established as joint venture, in general have less problems in financing their activities. When exploring the contributors to the perceptions in access to finance gap, only one variable proved to be important – female top management. It seems that if female top managers were more equally distributed between innovative and non-innovative firms, the perceptions on access to finance gap would be smaller.en
dc.formattext
dc.format.extent129-143 s.cs
dc.identifier.doi10.15240/tul/001/2017-1-009
dc.identifier.eissn2336-5604
dc.identifier.issn1212-3609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/19860
dc.language.isoen
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisherTechnická Univerzita v Libercics
dc.publisher.abbreviationTUL
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dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectaccess to financeen
dc.subjectinnovationen
dc.subjectpost-transitionen
dc.subject.classificationO31
dc.subject.classificationP33
dc.titleAccess to finance: innovative firms’ perceptions in post-transition EU membersen
dc.typeArticleen
local.accessopen
local.citation.epage143
local.citation.spage129
local.facultyFaculty of Economics
local.fulltextyes
local.relation.abbreviationE+Mcs
local.relation.abbreviationE&Men
local.relation.issue1
local.relation.volume20
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