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dc.contributor.authorDe Maeseneire, Wouter
dc.contributor.authorClaeys, Tine
dc.date.accessioned2019-03-28T22:39:34Z
dc.date.available2019-03-28T22:39:34Z
dc.date.issued2012en_US
dc.identifier.issn0969-5931
dc.identifier.doi10.1016/j.ibusrev.2011.03.004
dc.identifier.urihttp://hdl.handle.net/20.500.12127/6210
dc.description.abstractThis paper explores the problems experienced by small and medium-sized enterprises (SMEs) with international ambitions in gaining access to debt and equity finance for foreign direct investment (FDI) projects. We develop several arguments for why such small businesses are expected to face severe financing constraints for foreign investments and provide an explorative empirical study with both the demand and supply side of FDI finance. We have interviewed thirty-two Belgian SMEs that carry out FDI, five banks and five venture capitalists. Based on the SME discussions, we have composed a questionnaire that was sent to the interviewed SMEs. The information problems and lack of collateral that often characterize international investment, the home bias of financiers and the capital gearing method used by banks to evaluate small firms’ foreign projects give rise to financial constraints for SMEs’ FDI projects. The reported finance gap hinders small firms’ (international) development and leads to suboptimal home and FDI host country development.en_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.subjectFinancingen_US
dc.subjectForeign Direct Investmenten_US
dc.subjectInternationalizationen_US
dc.subjectSmall Business Financingen_US
dc.subjectSMEsen_US
dc.titleSMEs, foreign direct investment and financial constraints: The case of Belgiumen_US
dc.identifier.journalInternational Business Reviewen_US
dc.source.volume21en_US
dc.source.issue3en_US
dc.source.beginpage408en_US
dc.source.endpage424en_US
vlerick.knowledgedomainSpecial Industries : Financial Services Managementen_US
vlerick.typearticleVlerick strategic journal article
vlerick.vlerickdepartmentAFen_US
dc.identifier.vperid40574en_US
dc.identifier.vperid91873en_US


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