The 19 reference contexts in paper Phung The Dong, Nguyen Thi Hong Nham, Фунг Тхе Донг, Нгуен Тхи Хонг Ньям (2018) “Факторы, оказывающие воздействие на кредитование малых и средних предприятий во Вьетнаме // The factors affecting accessibility to credit capital of small and medium enterprises in Vietnam” / spz:neicon:statecon:y:2018:i:6:p:15-25

  1. Start
    6491
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    Educational background gives enterprise owners a better position to understand the requirements for running an enterprise and helps them manage different aspects of the enterprises (Kasseeah & Thoplan, 2012). Educational background is associated with experience, so managers usually prepare better borrowing profiles at the request of lenders
    Exact
    (Cole et al., 2004)
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    Bates (1990) surveyed 4400 small enterprises and said that owners attending four or five college/university years could access bank capital more easily but there is no evidence that high educational background improves the accessibility of non-bank capital.
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  2. Start
    6512
    Prefix
    Educational background gives enterprise owners a better position to understand the requirements for running an enterprise and helps them manage different aspects of the enterprises (Kasseeah & Thoplan, 2012). Educational background is associated with experience, so managers usually prepare better borrowing profiles at the request of lenders (Cole et al., 2004).
    Exact
    Bates (1990)
    Suffix
    surveyed 4400 small enterprises and said that owners attending four or five college/university years could access bank capital more easily but there is no evidence that high educational background improves the accessibility of non-bank capital.
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    7538
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    Another explanation is that the educational background reflects the level of management, highly educated enterprise owners often have well-managed and well-run enterprises, so profits will be high and they use the majority of retained profits instead of external borrowing. Women with less financial knowledge are more engaged in unofficial financial transactions than men
    Exact
    (Baydas et al., 1995)
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    To incorporate and run a business in an environment dominated by men, business women generally have higher educational background, and they are more talented than other enterprise owners, whereby women are more likely to have accessibility to official credit (Yaldiz et al., 2011).
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  4. Start
    7822
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    To incorporate and run a business in an environment dominated by men, business women generally have higher educational background, and they are more talented than other enterprise owners, whereby women are more likely to have accessibility to official credit
    Exact
    (Yaldiz et al., 2011)
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    According to Yaldiz et al (2011), the correlation between the owner's age and work experience can help reduce the financial constraints of the company. The older the leaders are, the more risk and the less energy in working they get.
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  5. Start
    7858
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    To incorporate and run a business in an environment dominated by men, business women generally have higher educational background, and they are more talented than other enterprise owners, whereby women are more likely to have accessibility to official credit (Yaldiz et al., 2011). According to
    Exact
    Yaldiz et al (2011)
    Suffix
    the correlation between the owner's age and work experience can help reduce the financial constraints of the company. The older the leaders are, the more risk and the less energy in working they get.
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  6. Start
    8284
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    Therefore, they prefer official loans or their own assets to unofficial loans (Nakano et al., 2011). The size of enterprises is one of the major reasons for the different capital choices of enterprises
    Exact
    (Beck, 2007;
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    ; Beck et al., 2006; Gertler & Gilchrist, 1994; Devereux & Schiantarelli, 1990). If the size of the enterprise is too small, banks and financial institutions will be reluctant to lend because of asymmetric information issues that significantly increase transaction costs, such as the expense of investigations to review loans, inspect and supervise enterprises.
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  7. Start
    8995
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    Small enterprises are more likely to finance a large proportion of investments by unofficial sources, such as lenders or families and friends or heavily dependent on short-term loans from banks. Meanwhile, bigger enterprises can finance their investments through official capital sources such as owner's capital, bank loans, etc.
    Exact
    (Bernanke et al., 2004)
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    These conclusions are consistent with the theoretical models of using fixed transaction costs, asymmetric information, and the consequence of issues related to representative. Largescale enterprises do not only encounter less credit constraints but also can access to various sources of capital.
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  8. Start
    10653
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    In addition, start-ups do not have the time to build long-term relationships with financial providers, so they often seek for unofficial financing. Meanwhile, long-term enterprises have the advantage in borrowing from banks (Gertler, 1988;
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    Akoten et al., 2006;
    Suffix
    ; Oliner & Rudebusch, 1992); Beck et al., 2006). Accordingly, the age range of enterprises has the opposite effect to borrow money from unofficial sources at a high level; the longer the enterprises operate, the less they rely on the capital of relatives, friends or borrowings from the others.
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    11280
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    Regarding form of ownership, researches generally indicate that government-owned enterprises with less financial barriers than other enterprises, can easily access to official sources of capital as they often receive direct government funding and preferential treatment from government financial institutions
    Exact
    (Harrison et al., 2004;
    Suffix
    ; Laeven, 2003). In particular, state-owned enterprises have easy access to capital from banks for development and banks owned by the state (Beck et al., 2008), while private enterprises often face credit limits (Drakos & Giannakopoulos, 2011).
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  10. Start
    11304
    Prefix
    Regarding form of ownership, researches generally indicate that government-owned enterprises with less financial barriers than other enterprises, can easily access to official sources of capital as they often receive direct government funding and preferential treatment from government financial institutions (Harrison et al., 2004;
    Exact
    Laeven, 2003)
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    In particular, state-owned enterprises have easy access to capital from banks for development and banks owned by the state (Beck et al., 2008), while private enterprises often face credit limits (Drakos & Giannakopoulos, 2011).
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    11772
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    In particular, state-owned enterprises have easy access to capital from banks for development and banks owned by the state (Beck et al., 2008), while private enterprises often face credit limits (Drakos & Giannakopoulos, 2011). In addition, state-owned enterprises are less likely to face issues related to collateral and administrative procedures than private ones (Beck et al, 2005).
    Exact
    Beck (2007)
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    noted a significant difference in financial barriers between enterprises across countries after controlling the difference in GDP per capita. This indicates geographic location or, more specifically, the location of enterprises involves in the credit restriction, so it is a factor explaining the enterprises’ accessibility to capital.
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    12219
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    This indicates geographic location or, more specifically, the location of enterprises involves in the credit restriction, so it is a factor explaining the enterprises’ accessibility to capital. Enterprises in small cities rely more on unofficial credit than enterprises in large cities do
    Exact
    (Yaldiz et al, 2011)
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    The transaction costs for credit appraisal of the enterprises in rural or remote areas are relatively high, so banks are less willing to lend to enterprises in these regions (Gine, 2011). On the other hand, the enterprises in urban areas or near commercial banks can access to bank loans more easily as it facilitates the banks to supervise and collect "soft" information, thereby allowing the
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  13. Start
    12417
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    Enterprises in small cities rely more on unofficial credit than enterprises in large cities do (Yaldiz et al, 2011). The transaction costs for credit appraisal of the enterprises in rural or remote areas are relatively high, so banks are less willing to lend to enterprises in these regions
    Exact
    (Gine, 2011)
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    On the other hand, the enterprises in urban areas or near commercial banks can access to bank loans more easily as it facilitates the banks to supervise and collect "soft" information, thereby allowing the banks to make a decision on the loan request (Petersen & Rajan, 1995).
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    13130
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    Firstly, a large number of studies suggest that collaterals help increase the accessibility to capital of enterprises at credit institutions. The lack of collaterals is a major barrier to the accessibility to capital of enterprises to official capital
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    (Shinozaki, 2012)
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    ; Fatoki & Odeyemi, 2010); Kira & He, 2012; Fatoki & Asah, 2011). The inequity in credit sources accessibility is generated by mortgage regulations in Vietnam. Accordingly, a land use permit is a common mortgage rather than a business potential because the institutional environment is insecure and insufficient to protect borrowers and debtors, as well as the lack of capacity to assess and
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    15042
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    rely primarily on "soft" information collected by working with enterprises for a long time, observing profitability, performance and repayments in the past to assess the credibility of enterprises and credit appraisal. Enterprises that have borrowed from previous creditors and have built some business relationships have significantly lower capital costs (Safavian & Wimpey, 2007;
    Exact
    Straub, 2005;
    Suffix
    ; Rand, 2007). In addition, network is a prerequisite helping enterprises lift financial barriers because regular relationships with lenders make it easier for enterprises to access to credit, even when other conditions are limited (Bougheas et al., 2006).
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    15287
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    In addition, network is a prerequisite helping enterprises lift financial barriers because regular relationships with lenders make it easier for enterprises to access to credit, even when other conditions are limited
    Exact
    (Bougheas et al., 2006)
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    Regarding the characteristics of educational background, some other studies in Vietnam give the opposite findings. Specifically, the accessibility to capital for owners graduating from colleges or universities is 12.8% lower than that of managers with lower educational background (Nhung et al., 2015).
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  17. Start
    15594
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    Regarding the characteristics of educational background, some other studies in Vietnam give the opposite findings. Specifically, the accessibility to capital for owners graduating from colleges or universities is 12.8% lower than that of managers with lower educational background
    Exact
    (Nhung et al., 2015)
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    However, the study by Thanh et al (2011) found that the educational background of enterprise owners does not affect their accessibility to capital. The majority of enterprise owners, even those with degrees of bachelor and above, are also less well-educated in business, corporate governance and business law.
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  18. Start
    16333
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    In terms of gender, a large number of other studies in Vietnam have found that the accessibility to capital of female enterprise owners is higher than that of male managers as in the business world; women are more talented and better educated than men
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    (Yaldiz et al., 2011;
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    ; Thanh et al., 2011). The study by Nguyet (2014) shows that the opposite relationship between the age and the percentage of unofficial capital selection, in which older enterprise owners with more experience are less likely to rely on loans in general and unofficial capital in particular.
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    18186
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    They argue that through the network, especially with government officials, the credibility of enterprises is increasing in the eyes of donors and government support programs, thereby increasing accessibility to funding and reducing expenses
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    (Le et al, 2006)
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    In summary, on the basis of reviewing the studies above, the determinants of the processing of bank loans through which enterprises can access official loans include: ( 1) characteristics of enterprises, such as size, type of ownership, age of enterprises; (2) indicators reflecting the business performance, such as revenue growth, Return on assets (ROA); (3) characteristics of the loans,
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