The role of personal loans in the financing of SMEs

Autores
Briozzo, Anahi Eugenia; Vigier, Hernan Pedro
Año de publicación
2014
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
This work studies the determinants of the use of personal loans in small and medium-sized enterprises (SMEs). Design/methodology/approach: Personal loans are addressed as a function of the borrower and collateral. To empirically test the hypothesis of this study, a probit model was applied to a group of companies in Bahia Blanca, Argentina, with a previous analysis of the possible effects of sample selection. Findings: Older companies, firms with lower expected growth rates, younger owners who seek to create value or growth, and those who perceive low emotional costs associated with bankruptcy, are less likely to use personal loans to finance their operations. Research limitations/implications: This study is limited by the availability of data on SMEs in Argentina. Social implications: The results highlight the importance of financial aid programs that focus on SME scarce availability of collateral. Originality/value: This study makes three principal contributions: i) it investigates the phenomenon of personal loan utilisation in SMEs; ii) it analyses financing decisions from both the supply and demand perspectives; and iii) it presents a database that includes variables that have not been previously studied in Argentina or other emerging economies.
Fil: Briozzo, Anahi Eugenia. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina
Fil: Vigier, Hernan Pedro. Universidad Nacional del Sur. Departamento de Economía; Argentina. Provincia de Buenos Aires. Dirección General de Cultura y Educación. Universidad Provincial del Sudoeste; Argentina
Materia
Small enterprises
Financing decisions
Personal loans
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/101781
Acceder
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spelling The role of personal loans in the financing of SMEsBriozzo, Anahi EugeniaVigier, Hernan PedroSmall enterprisesFinancing decisionsPersonal loanshttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5This work studies the determinants of the use of personal loans in small and medium-sized enterprises (SMEs). Design/methodology/approach: Personal loans are addressed as a function of the borrower and collateral. To empirically test the hypothesis of this study, a probit model was applied to a group of companies in Bahia Blanca, Argentina, with a previous analysis of the possible effects of sample selection. Findings: Older companies, firms with lower expected growth rates, younger owners who seek to create value or growth, and those who perceive low emotional costs associated with bankruptcy, are less likely to use personal loans to finance their operations. Research limitations/implications: This study is limited by the availability of data on SMEs in Argentina. Social implications: The results highlight the importance of financial aid programs that focus on SME scarce availability of collateral. Originality/value: This study makes three principal contributions: i) it investigates the phenomenon of personal loan utilisation in SMEs; ii) it analyses financing decisions from both the supply and demand perspectives; and iii) it presents a database that includes variables that have not been previously studied in Argentina or other emerging economies.Fil: Briozzo, Anahi Eugenia. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; ArgentinaFil: Vigier, Hernan Pedro. Universidad Nacional del Sur. Departamento de Economía; Argentina. Provincia de Buenos Aires. Dirección General de Cultura y Educación. Universidad Provincial del Sudoeste; ArgentinaEmerald2014-03info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/101781Briozzo, Anahi Eugenia; Vigier, Hernan Pedro; The role of personal loans in the financing of SMEs; Emerald; Academia Revista Latinoamericana de Administración; 27; 2; 3-2014; 209-2251012-8255CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/url/https://www.emerald.com/insight/content/doi/10.1108/ARLA-10-2013-0167/full/htmlinfo:eu-repo/semantics/altIdentifier/doi/10.1108/ARLA-10-2013-0167info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-10-15T14:24:48Zoai:ri.conicet.gov.ar:11336/101781instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-10-15 14:24:48.617CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv The role of personal loans in the financing of SMEs
title The role of personal loans in the financing of SMEs
spellingShingle The role of personal loans in the financing of SMEs
Briozzo, Anahi Eugenia
Small enterprises
Financing decisions
Personal loans
title_short The role of personal loans in the financing of SMEs
title_full The role of personal loans in the financing of SMEs
title_fullStr The role of personal loans in the financing of SMEs
title_full_unstemmed The role of personal loans in the financing of SMEs
title_sort The role of personal loans in the financing of SMEs
dc.creator.none.fl_str_mv Briozzo, Anahi Eugenia
Vigier, Hernan Pedro
author Briozzo, Anahi Eugenia
author_facet Briozzo, Anahi Eugenia
Vigier, Hernan Pedro
author_role author
author2 Vigier, Hernan Pedro
author2_role author
dc.subject.none.fl_str_mv Small enterprises
Financing decisions
Personal loans
topic Small enterprises
Financing decisions
Personal loans
purl_subject.fl_str_mv https://purl.org/becyt/ford/5.2
https://purl.org/becyt/ford/5
dc.description.none.fl_txt_mv This work studies the determinants of the use of personal loans in small and medium-sized enterprises (SMEs). Design/methodology/approach: Personal loans are addressed as a function of the borrower and collateral. To empirically test the hypothesis of this study, a probit model was applied to a group of companies in Bahia Blanca, Argentina, with a previous analysis of the possible effects of sample selection. Findings: Older companies, firms with lower expected growth rates, younger owners who seek to create value or growth, and those who perceive low emotional costs associated with bankruptcy, are less likely to use personal loans to finance their operations. Research limitations/implications: This study is limited by the availability of data on SMEs in Argentina. Social implications: The results highlight the importance of financial aid programs that focus on SME scarce availability of collateral. Originality/value: This study makes three principal contributions: i) it investigates the phenomenon of personal loan utilisation in SMEs; ii) it analyses financing decisions from both the supply and demand perspectives; and iii) it presents a database that includes variables that have not been previously studied in Argentina or other emerging economies.
Fil: Briozzo, Anahi Eugenia. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina
Fil: Vigier, Hernan Pedro. Universidad Nacional del Sur. Departamento de Economía; Argentina. Provincia de Buenos Aires. Dirección General de Cultura y Educación. Universidad Provincial del Sudoeste; Argentina
description This work studies the determinants of the use of personal loans in small and medium-sized enterprises (SMEs). Design/methodology/approach: Personal loans are addressed as a function of the borrower and collateral. To empirically test the hypothesis of this study, a probit model was applied to a group of companies in Bahia Blanca, Argentina, with a previous analysis of the possible effects of sample selection. Findings: Older companies, firms with lower expected growth rates, younger owners who seek to create value or growth, and those who perceive low emotional costs associated with bankruptcy, are less likely to use personal loans to finance their operations. Research limitations/implications: This study is limited by the availability of data on SMEs in Argentina. Social implications: The results highlight the importance of financial aid programs that focus on SME scarce availability of collateral. Originality/value: This study makes three principal contributions: i) it investigates the phenomenon of personal loan utilisation in SMEs; ii) it analyses financing decisions from both the supply and demand perspectives; and iii) it presents a database that includes variables that have not been previously studied in Argentina or other emerging economies.
publishDate 2014
dc.date.none.fl_str_mv 2014-03
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/101781
Briozzo, Anahi Eugenia; Vigier, Hernan Pedro; The role of personal loans in the financing of SMEs; Emerald; Academia Revista Latinoamericana de Administración; 27; 2; 3-2014; 209-225
1012-8255
CONICET Digital
CONICET
url http://hdl.handle.net/11336/101781
identifier_str_mv Briozzo, Anahi Eugenia; Vigier, Hernan Pedro; The role of personal loans in the financing of SMEs; Emerald; Academia Revista Latinoamericana de Administración; 27; 2; 3-2014; 209-225
1012-8255
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/url/https://www.emerald.com/insight/content/doi/10.1108/ARLA-10-2013-0167/full/html
info:eu-repo/semantics/altIdentifier/doi/10.1108/ARLA-10-2013-0167
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Emerald
publisher.none.fl_str_mv Emerald
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
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score 13.22299

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