Influencing mechanism of demographic traits of entrepreneurs on financing constraints of SMEs

Chen Xiaohong; Gao Yangjie

Science Research Management ›› 2013, Vol. 34 ›› Issue (12) : 110-119.

Chen Xiaohong, Gao Yangjie

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Abstract

Based on the upper echelons theory, the research analyzes the effect of demographic traits of entrepreneurs on financing constraints of SMEs by means of the hierarchical regression method and with samples of 530 Chinese listed SMEs in 2010. The results show that different demographic traits of entrepreneurs have different effects on the financing constraints of SMEs. Specifically, the education background and professional title of entrepreneurs have a positive impact on easing the financing constraints of SMEs, meanwhile, the age and tenure of entrepreneurs have a significant U-shaped impact on the financing constraints of SMEs, but women entrepreneurs have a negative impact in alleviating such constraints. The research not only enriches the theories between demographic traits of entrepreneurs and financing constraints of SMEs, but also provides a practical support for SMEs in China to ease financing constraints.

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Entrepreneur / demographic traits / financing constraints index / SMEs

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Chen Xiaohong, Gao Yangjie. Influencing mechanism of demographic traits of entrepreneurs on financing constraints of SMEs[J]. Science Research Management. 2013, 34(12): 110-119

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