Source of fund, financial constraints, political instability, and firm innovation: empirical evidence from Arab Spring countries

IF 3.8 Q1 BUSINESS, FINANCE
H. Ünlü, Ali Saleh Alshebami
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引用次数: 2

Abstract

ABSTRACT The purpose of this article is to examine the impact of financial constraints on innovation in countries experiencing the Arab Spring. It also looks at how the impact of financial constraints varies with the source of funding. The study uses 2013 BEEPS data. 2261 companies from 5 MENA countries were included in our sample. The recursive bivariate probit and extended probit models are used. Our findings show that financial constraints negatively affect the likelihood of enhancing a firm's innovative performance. Unlike the existing literature, the effect of financial barriers was not only directly examined, but also the region and fund structure of the company were examined together. Although bank loans directly negatively impact innovation performance, when this effect is considered together with financial barriers, it has been observed that the effects of financial barriers decrease. An even more significant decline is seen with the inclusion of the regional influence.
资金来源、金融约束、政治不稳定和企业创新:来自阿拉伯之春国家的经验证据
摘要本文旨在考察经历阿拉伯之春的国家的财政约束对创新的影响。它还研究了财政限制的影响如何随着资金来源而变化。该研究使用了2013年BEEPS数据。来自中东和北非5个国家的2261家公司被纳入我们的样本。使用递归二元probit和扩展probit模型。我们的研究结果表明,财务约束对提高企业创新绩效的可能性产生了负面影响。与现有文献不同,财务壁垒的影响不仅被直接考察,而且公司的区域和资金结构也被一并考察。尽管银行贷款直接对创新绩效产生负面影响,但当将这种影响与金融壁垒一起考虑时,已经观察到金融壁垒的影响会减少。随着区域影响力的加入,可以看到更显著的下降。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
10.60
自引率
7.00%
发文量
55
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