The regulatory environment and financial constraints of private firms in the European Union

Casino-Martínez, Alejandro; López-Gracia, José; Mestre-Barberá, Reyes

doi:10.1016/j.gfj.2022.100798

Cited by 2 publications

(1 citation statement)

References 66 publications

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“…Moreover, [35] identified regulatory environment and related legislation and compliance as primary inhibitors of business start-up and growth. [36] analyzed the influence of the institutional environment on firms' capital structure in the European Union (EU) and found that a high-quality regulatory environment negatively affects firms' leverage, whereas social corruption has the opposite effect.…”

Section: Impact Of Regulatory Framework On Smes Growthmentioning

confidence: 99%

Regulatory frameworks and small and medium-sized enterprises growth in Sierra Leone: The mediating role of informality

Shekou Ansumana Nuni,

Ansumana Feika

2023

GSC Adv. Res. Rev.

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Business environment plays a vital role in enhancing SMEs formalisation and development. Accordingly, heavy regulation due to burdensome procedures and high cost of registration is detrimental for every business, more especially SMEs. This study therefore was undertaken to assess the nexus between regulatory frameworks and SMEs growth, by specifically investigating the mediating role of informality. The specific objectives were to assess the causes of informality among Small and Medium-sized Enterprises in Sierra Leone and to evaluate the effect of informality among small and medium-sized enterprises in Sierra Leone. The study adopted a descriptive research design that collected primary data from a sample of one hundred (100) using questionnaires. Descriptive statistical analysis was done using SPSS v26 and Microsoft Excel. Findings from the study assessed the causes of informality among SMEs and evaluated the effect of informality on SMEs by examining the problems faced by informal SMEs and the benefits of operating a registered business. The results showed that the problems faced by informal SMEs collectively affect their growth. The study concluded that the regulatory framework links SMEs to growth opportunities through the collective benefits derived from operating a registered business. The study further made recommendations on how to promote SMEs formalisation.

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Section: Impact Of Regulatory Framework On Smes Growthmentioning

confidence: 99%

Regulatory frameworks and small and medium-sized enterprises growth in Sierra Leone: The mediating role of informality

Shekou Ansumana Nuni,

Ansumana Feika

2023

GSC Adv. Res. Rev.

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Capital structure in Latin America: institutional and macroeconomic effects

Díaz-Rivera

2024

ARLA

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PurposeThis study analyzes the influence of institutional and macroeconomic factors, in addition to firm-level factors, on the capital structure of listed industrial Latin American (LATAM) companies. The objective is to provide empirical evidence on LATAM firms from (1) the perspective of the traditional trade-off and pecking order theories and (2) from approaches that introduce the impact of institutional and macroeconomic factors into the analysis.Design/methodology/approachThe empirical analysis adopts an econometric methodology using panel data on companies from Argentina, Brazil, Chile, Colombia, Mexico and Peru from 2008 to 2018.FindingsThe results indicate that, in addition to the firm-level characteristics, the institutional and macroeconomic characteristics of the countries influence the capital structure of LATAM companies.Research limitations/implicationsThe study presents some limitations. It is mainly focused on listed companies sourced from only six LATAM countries due to a lack of data. It would be advisable to carry out similar studies with corporate governance factors, family businesses and small and medium-sized enterprises (SMEs).Practical implicationsThe results can serve as a reference for economic agents and professionals, encouraging them to consider the evolution of institutional and macroeconomic variables when making decisions. Academically, our findings verify the validity of conventional theories and the relevance of incorporating external institutional variables into the capital structure framework.Originality/valueThe importance of this research lies in analyzing the capital structure of companies in a little-explored geographic area, LATAM, including institutional and macroeconomic factors and using the new Orbis database.

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The regulatory environment and financial constraints of private firms in the European Union

Cited by 2 publications

References 66 publications

Regulatory frameworks and small and medium-sized enterprises growth in Sierra Leone: The mediating role of informality

Regulatory frameworks and small and medium-sized enterprises growth in Sierra Leone: The mediating role of informality

Capital structure in Latin America: institutional and macroeconomic effects

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