Becoming a high-growth firm in a developing country: The role of co-funding

Trinh Long

Finance Research Letters, 2019, vol. 29, issue C, 330-335

Abstract: This paper examines the role of different modes of external finance in making a high-growth firm (HGF) using unique micro, small, medium (MSM) firm-level data collected every two years in a developing country, Vietnam. Our empirical results indicate that firms that are able to access formal finance are more likely to become an HGF when compared to firms that do not use external finance or use only informal finance. However, firms that can utilize both formal finance and informal finance (i.e., co-funding mode of external finance) have the highest chance of becoming an HGF. These firms also perform much better than their counterparts.

Keywords: Co-funding; Informal finance; Access to formal credit; SME; Vietnam (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:29:y:2019:i:c:p:330-335

DOI: 10.1016/j.frl.2018.08.018

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