Abstract
Using data from 65,485 Chinese private small and medium-sized enterprises over the period 2000-2006, we examine the extent to which firms can improve access to debt by adopting strategies aimed at building social capital, namely entertaining and gift giving to others in their social network, and obtaining political affiliation. We find that although entertainment and gift-giving expenditure leads to higher levels of total and short-term debt, it does not enable firms to obtain greater long-term debt. In contrast, we demonstrate that obtaining political affiliation allows firms greater access to long-term debt.
| Original language | English |
|---|---|
| Pages (from-to) | 601-631 |
| Number of pages | 31 |
| Journal | Entrepreneurship Theory and Practice |
| Volume | 39 |
| Issue number | 3 |
| Early online date | 7 Jul 2013 |
| DOIs | |
| Publication status | Published - May 2015 |
Bibliographical note
This is the peer reviewed version of the following article: Du, J., Guariglia, A., & Newman, A. (2015). Do social capital building strategies influence the financing behavior of Chinese private small and medium-sized enterprises?. Entrepreneurship theory and practice, 39(3), 601-631, which has been published in final form at http://dx.doi.org/10.1111/etap.12051]. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.Fingerprint
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