Signal transfer in symbiotic relations: the mediating effects of inter-firm relationships and business-bank relations

Ploypailin Kijkasiwat, Nirosha Hewa Wellalage and Stuart Locke

Global Business and Economics Review, 2026, vol. 34, issue 3, 352-372

Abstract: This study explores the influence of symbiotic relationships on the performance of micro, small, and medium enterprises (MSMEs) in New Zealand, focusing on signalling theory. Specifically, the research explores the mediating impacts of interfirm relations and business-bank relations. Utilising partial least square structural equation modelling (PLS-SEM), the study analyses data collected through face-to-face interviews. To elucidate interfirm relationships, the study incorporates various indicators from network analysis. The findings reveal a negative association between changes in MSMEs' net profit and business-bank relations. Notably, interfirm relations do not act as mediators in the effects of business-bank relations on changes in MSMEs' net profit. This study contributes significantly to the broader literature on MSME performance by extending current theories and addressing key issues. Moreover, it makes a methodological contribution by incorporating networking scores as indicators to elucidate each network relationship.

Keywords: micro, small and medium enterprises; MSMEs; signalling theory; business performance; interfirm relations; business-bank relations; mediating effects. (search for similar items in EconPapers)
Date: 2026
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