How different types of financial service providers support small- and medium- enterprises under the impact of COVID-19 pandemic: from the perspective of expectancy theory

Hua Song (), Yudong Yang () and Zheng Tao ()
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Hua Song: Renmin University of China
Yudong Yang: Renmin University of China
Zheng Tao: Renmin University of China

Frontiers of Business Research in China, 2020, vol. 14, issue 1, 1-27

Abstract: Abstract The 2019 novel coronavirus disease (COVID-19) pandemic has significantly impacted several aspects of the society and the economy. A problem that needs prompt attention in this situation is the increasing difficulties faced by small- and medium-sized enterprises (SMEs) in raising capital, which has aroused great concern from multiple stakeholders such as public administrations and regulators. As the major supply of capital, financial service providers (FSPs) play a critical role in financing SMEs. However, how FSPs deal with SME financing during shocks has not yet been fully researched. Accordingly, in this study, a theoretical framework based on expectancy theory is proposed to explore the expected strategic adjustments of FSPs in financing SMEs. Specifically, this study investigates 272 FSPs in China on their expectancy and attitude on financing to SMEs during the COVID-19 pandemic. Furthermore, this study has divided FSPs into three categories: commercial banks, non-bank financial institutions, and credit-enhanced FSPs. Differences among these categories are compared and analyzed.

Keywords: 2019 novel coronavirus disease (COVID-19) pandemic; Financial service providers (FSPs); Expectancy theory; Financing to small- and medium-sized enterprises (SMEs) (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (6)

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DOI: 10.1186/s11782-020-00095-1

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