Control Reluctance and Legitimacy for SMEs Applying Bank Loans

Viorel Dorin Lacatus and Viorela Ligia Vaidean

MPRA Paper from University Library of Munich, Germany

Abstract: SMEs attitude versus external financiers, mainly bank loans, is a constant subject of change, especially for transition economies because it is critical to SMEs’ success in exploiting, indeed surviving, the rapid globalization of markets. The circumstances under which SMEs may accept outside control, evolving towards more openness, are determined by their financial status, the devepolment of technology, size and growth needs. The enterprises’ legitimacy, determined by professional management practices, networking and growth stage, positively influences SMEs’ accessibility to bank financing.

Keywords: outside control reluctance; financial status; growth stage; bank financing; legitimacy (search for similar items in EconPapers)
JEL-codes: D02 G20 G29 (search for similar items in EconPapers)
Date: 2007, Revised 2007
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Published in Analele Universităţii din Oradea Știinţe Economice, TOM XVI, Volumul II – Secțiunea: Finance, Accounting and Banks.II(2007): pp. 415-418

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