Trust and SME attitudes towards equity financing across Europe

被引:39
|
作者
Dowling, Michael [1 ]
O'Gorman, Colm [2 ]
Puncheva, Petya [1 ]
Vanwalleghem, Dieter [1 ]
机构
[1] Rennes Sch Business, Rennes, France
[2] Dublin City Univ, DCU Business Sch, Dublin, Ireland
关键词
SME; Interpersonal trust; Institutional trust; Equity financing; Social capital; MEDIUM-SIZED ENTERPRISES; NATIONAL CULTURE; VENTURE CAPITALIST; LEGAL DETERMINANTS; EMPIRICAL-ANALYSIS; UNITED-STATES; FIRMS; GROWTH; CONTEXT; RADIUS;
D O I
10.1016/j.jwb.2019.101003
中图分类号
F [经济];
学科分类号
02 ;
摘要
The decision by a small and medium-sized enterprise (SME) to take on equity requires trust, due to reliance on the good intentions of the parties involved. Drawing on a social capital perspective, we argue that national interpersonal and institutional trust positively influences SME attitudes towards equity financing. We also hypothesize a substitution effect between interpersonal and institutional trust. Through a large survey of European SMEs in 26 countries, we confirm the presence of these direct and interaction effects. By making explicit the link between trust and attitudes to equity financing we extend the theory on institutional drivers of SME financing.
引用
收藏
页数:16
相关论文
共 50 条
  • [21] The motivation of entrepreneurs towards private equity financing: a laddering approach
    Morandin, Gabriele
    Bergami, Massimo
    Bagozzi, Richard P.
    ENTREPRENEURSHIP AND THE FINANCIAL COMMUNITY: STARTING UP AND GROWING NEW BUSINESSES, 2007, : 77 - 90
  • [22] CONSUMER MARKETS' TRUST REGIMES ACROSS EUROPE
    Berg, Lisbet
    EUROPEAN SOCIETIES, 2014, 16 (04) : 480 - 499
  • [23] Attitudes towards financing of dental care in a Swedish population
    Arnbjerg, D
    Soderfeldt, B
    Palmqvist, S
    ACTA ODONTOLOGICA SCANDINAVICA, 1996, 54 (02) : 81 - 86
  • [24] PUBLIC ATTITUDES TOWARDS MIGRANTS IN EUROPE
    Monusova, Galina A.
    MIROVAYA EKONOMIKA I MEZHDUNARODNYE OTNOSHENIYA, 2016, 60 (11): : 58 - 70
  • [25] Changing attitudes towards abortion in Europe
    Arisi, E
    EUROPEAN JOURNAL OF CONTRACEPTION AND REPRODUCTIVE HEALTH CARE, 2003, 8 (02): : 109 - 121
  • [26] Discerning self-interested behaviour in attitudes towards welfare state responsibilities across Europe
    Baslevent, Cem
    Kirmanoglu, Hasan
    INTERNATIONAL JOURNAL OF SOCIAL WELFARE, 2011, 20 (04) : 344 - 352
  • [27] Attitudes towards carbon taxes across Europe: The role of perceived uncertainty and self-interest
    Umit, Resul
    Schaffer, Lena Maria
    ENERGY POLICY, 2020, 140
  • [28] The Future of Private Equity in Europe - The Determinants Across Countries
    Precup, Mihai
    ROMANIAN JOURNAL OF EUROPEAN AFFAIRS, 2015, 15 (04) : 72 - 92
  • [29] Attitudes and Practices towards HPV Vaccination and Its Social Processes in Europe: An Equity-Focused Scoping Review
    Alarcao, Violeta
    Zdravkova, Bilyana
    SOCIETIES, 2022, 12 (05):
  • [30] Attitudes towards intergenerational equity: Preliminary Australian evidence
    Kendig, Hal
    O'Loughlin, Kate
    Hussain, Rafat
    Cannon, Lisa
    AUSTRALASIAN JOURNAL ON AGEING, 2017, 36 (02) : 107 - 111