The latent demand for bank debt: characterizing "discouraged borrowers"
The latent demand for bank debt: characterizing "discouraged borrowers"
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DOI：
10.1007/s11187-010-9283-6
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发表时间：
2012-05-01
影响因子：
6.4
通讯作者：
Mason, Colin
中科院分区：
文献类型：
--
作者：
Freel, Mark;Carter, Sara;Mason, Colin
尽管有广泛的经验证据表明，相对较小比例的小企业的贷款申请被拒绝，但对小企业遇到信贷限制的担忧在文献中根深蒂固。然而，许多公司可能因为害怕被拒绝而不愿申请。这些业务是本文的重点。根据对英国中小企业（SME）的大规模邮政调查的回应，我们发现，申请银行贷款的企业数量是贷款申请被拒绝的企业数量的两倍。更具体地说，我们观察到一些显着的特点“气馁的借款人”（相对于申请人）。这些因素包括：战略、部门、先前的创业经验和银行关系。我们的研究结果对政策和未来研究的影响进行了简要讨论。
Concerns that small firms encounter credit constraints are well entrenched in the literature, despite widespread empirical evidence that a relatively small proportion of small firms have their loan applications rejected. However, many firms may be discouraged from applying for fear of rejection. These businesses are the focus of this paper. Based on responses to a large-scale postal survey of UK small and medium-sized enterprises (SMEs), we find that twice as many businesses were discouraged from applying for a bank loan than had their loan request denied. More particularly, we observe a number of distinguishing characteristics of "discouraged borrowers" (relative to applicants). These include: strategy, sector, prior entrepreneurial experience and banking relationships. The implications of our findings for policy and future research are briefly discussed.