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Working Paper No. 92. The Effect of Credit Guarantees on Survival and Performance of SMEs in Korea

PublikationWorking paper
Almas Heshmati, Firm performance, Företagandets villkor
Working Paper No. 92.
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Sammanfattning

This study evaluates the impact of provision of credit guarantee in Korea at the firm level. The data is assembled from two public funds providing credit guarantees covering the period 2000 to 2003. The sample firms consist of SMEs mainly. To measure the effects of credit guarantee, the relationship between credit guarantees, survival of firms, and their productive performance is analyzed. Since the data is collected as repeated cross sections and firms are not identified over time, the analysis is carried out by using a pseudo panel data approach. The pseudo panel data is created using time invariant firm characteristics. The result from regression analysis conducted indicates that the amounts of credit guarantee and the number of times a firm receives credit guarantees have effects on their survival and growth. The amounts of credit guarantee increase the growth of sales and productivity while frequency of credit guarantees decreases business failure. Size and age play a decisive role in survival of firms and their employment growth as well. Moreover, survival and performance of firms are different across periods, industries, and locations.

Kang, J-W., Heshmati, A. & Choi, G-G. (2006). The Effect of Credit Guarantees on Survival and Performance of SMEs in Korea. Ratio Working Paper No. 92.

Baserat på innehåll

Working Paper No. 92. The Effect of Credit Guarantees on Survival and Performance of SMEs in Korea
Working paperPublikation
Kang, J-W., Heshmati, A. & Choi, G-G.
Publiceringsår

2006

Publicerat i

Ratio Working Paper

Sammanfattning

This study evaluates the impact of provision of credit guarantee in Korea at the firm level. The data is assembled from two public funds providing credit guarantees covering the period 2000 to 2003. The sample firms consist of SMEs mainly. To measure the effects of credit guarantee, the relationship between credit guarantees, survival of firms, and their productive performance is analyzed. Since the data is collected as repeated cross sections and firms are not identified over time, the analysis is carried out by using a pseudo panel data approach. The pseudo panel data is created using time invariant firm characteristics. The result from regression analysis conducted indicates that the amounts of credit guarantee and the number of times a firm receives credit guarantees have effects on their survival and growth. The amounts of credit guarantee increase the growth of sales and productivity while frequency of credit guarantees decreases business failure. Size and age play a decisive role in survival of firms and their employment growth as well. Moreover, survival and performance of firms are different across periods, industries, and locations.

Working Paper No. 92. The Effect of Credit Guarantees on Survival and Performance of SMEs in Korea
Working paperPublikation
Kang, J-W., Heshmati, A. & Choi, G-G.
Publiceringsår

2006

Publicerat i

Ratio Working Paper

Sammanfattning

This study evaluates the impact of provision of credit guarantee in Korea at the firm level. The data is assembled from two public funds providing credit guarantees covering the period 2000 to 2003. The sample firms consist of SMEs mainly. To measure the effects of credit guarantee, the relationship between credit guarantees, survival of firms, and their productive performance is analyzed. Since the data is collected as repeated cross sections and firms are not identified over time, the analysis is carried out by using a pseudo panel data approach. The pseudo panel data is created using time invariant firm characteristics. The result from regression analysis conducted indicates that the amounts of credit guarantee and the number of times a firm receives credit guarantees have effects on their survival and growth. The amounts of credit guarantee increase the growth of sales and productivity while frequency of credit guarantees decreases business failure. Size and age play a decisive role in survival of firms and their employment growth as well. Moreover, survival and performance of firms are different across periods, industries, and locations.

Ratio Working Paper No. 349: Industrial conflict in essential services in a new era – Swedish rules in a comparative perspective
Working paperPublikation
Karlson, N.
Publiceringsår

2021

Publicerat i

Ratio Working Paper

Sammanfattning

This paper examines whether the Swedish regulatory system of dealing with industrial conflicts that affect essential services need an update or reform. Are the existing rules effective in a world where many essential services are upheld by many interdependent agents in complex systems where every single node becomes critical for the functioning of the system, and where the essential service activities could be either private or public? A comparative study is conducted with the corresponding regulatory systems of the United Kingdom, Germany, and Denmark.
The conclusion is that Sweden is a special case. The Swedish protection against and readiness in dealing with societally harmful industrial conflicts in essential services is weaker than in the countries of comparison. Just as in relation to other threats to essential services, it is not sustainable to claim that just because such a threat is not currently present, there would be no need for preparedness.
There are many alternative ways to handle this. Desirable methods should both prevent harmful conflicts from erupting and end conflicts that have grown harmful to society at a later stage. The labour market organisations should have a mutual interest in reforming the rules.

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