Small, Medium, Micro Enterprises, and Financial Growth Cycle  

Oleh:

Pakaryaningsih, Elok

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Journal of Economics, Business, & Accountancy: ventura vol. 14 no. 3 (Dec. 2011), page 239-250.
Topik: Small-Medium-Micro Enterprises; Financial Growth Cycle Model

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: VV5.8 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Research on small, medium, and micro-sized enterprises (SMMEs) is considered interesting. This study attempts to examine the existence of external financial on micro, small, and medium enterprises in Jogjakarta , especially to support the existence of The Financial Growth Cycle Model proposed by Bergel and Udell (1998). This model argues that, as the enterprises getting mature in terms of age, size, and published information, the external financing are gradually employed. Besides that, this study also examines the policy implication regarding the existence of Financial Growth Cycle Model. Using muliti-nominal logistic regression, 100 of micro, small, and medium-sized-enterprises in Jogjakarta are analyzed. The result shows that micro, small, and medium-sized enterprises in Jogjakarta have a high tendency to use internal financing rather than external ones. This evidence is due to the major characteristics of the sample, which they are considered under developed or immature. Moreover, the results suggest that the Financial Growth Cycle Model is supported. The result also suggests that micro-finance institution should follow three strategies to provide source of capital. Those strategies are market segmentation, loan portfolio, and assisting program for SMMEs.

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