Survival of SMEs: business environment, financial performance, bank credit, and accounting errors

Ngo Minh Hai, Le Minh-Tu and Nguyen Dac Dung

Macroeconomics and Finance in Emerging Market Economies, 2025, vol. 18, issue 1, 63-80

Abstract: This study analyzes Vietnam's SME survival during the global financial crisis, considering financial performance, bank credit, and accounting. Results reveal significant crisis impact on 2008 SMEs, no WTO accession benefits, and varying survival rates among industries. Evidence supports contingency and resource-based theories, emphasizing financial performance and bank credit access for SME survival. Differences in liquidity and capital size between small and medium-sized enterprises are identified. Accounting errors may temporarily benefit SMEs but signal future survival risks.

Date: 2025
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DOI: 10.1080/17520843.2023.2238993

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