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  • 1
    Online-Ressource
    Online-Ressource
    Small vs. Young Firms across the World : Contribution to Employment, Job Creation, and Growth (2011)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (59 p)
    Ausgabe: 2011 World Bank eLibrary
    Paralleltitel: Ayyagari, Meghana Small vs. Young Firms across the World
    Kurzfassung: This paper describes a unique cross-country database that presents consistent and comparable information on the contribution of the small and medium enterprises sector to total employment, job creation, and growth in 99 countries. The authors compare and contrast the importance of small and medium enterprises to that of young firms across different economies. They find that small firms (in particular, firms with less than 100 employees) and mature firms (in particular, firms older than 10 years) have the largest shares of total employment and job creation. Small firms and young firms have higher job creation rates than large and mature firms. However, large firms and young firms have higher productivity growth. This suggests that while small firms employ a large share of workers and create most jobs in developing economies their contribution to productivity growth is not as high as that of large firms
    DOI: 10.1596/1813-9450-5631
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
    MPI Ethno. Forsch.
  • 2
    Online-Ressource
    Online-Ressource
    Financing of Firms in Developing Countries : Lessons from Research (2012)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (99 p)
    Ausgabe: 2012 World Bank eLibrary
    Paralleltitel: Meghana Ayyagari Financing of Firms in Developing Countries
    Kurzfassung: This paper reviews and synthesizes theoretical and empirical research on the role of finance in developing countries. First, the paper presents the stylized facts about firms in developing nations as well as the legal, financial and broader institutional framework in which these firms operate. Next, the paper focuses on the financing choices available to small and medium firms in developing countries and highlights areas needing additional research
    DOI: 10.1596/1813-9450-6036
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
    MPI Ethno. Forsch.
  • 3
    Online-Ressource
    Online-Ressource
    Size and Age of Establishments : Evidence from Developing Countries (2013)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (77 p)
    Ausgabe: 2013 World Bank eLibrary
    Paralleltitel: Ayyagari, Meghana Size and Age of Establishments
    Kurzfassung: Survey data from 120 developing countries are used to examine the relation between establishment size and age in the formal sector. Existing research suggests that manufacturing establishments in developing countries do not grow over time, most likely because of market imperfections and regulations. To the contrary, this paper finds that the average plant in developing countries that is more than 40 years old employs almost five times as many workers as the average plant that is five years old or younger. The analysis finds consistent evidence when it looks within a large country, India, based on detailed manufacturing census data over 23 years. It also finds that differences in financial development across Indian states, while substantial, have a minor effect on firm growth, consistent with inefficiency of state-owned financial systems. These results hold controlling for differences in labor regulations across states, capital intensity, labor regulations, and firms born before and after the major reforms
    DOI: 10.1596/1813-9450-6718
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
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  • 4
    Online-Ressource
    Online-Ressource
    SME Finance (2017)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (61 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ayyagari, Meghana SME Finance
    Kurzfassung: This paper takes stock of the empirical evidence on the financing challenges faced by small and medium enterprises, especially in developing countries. The paper first discusses the institutional constraints that impede access to finance, including the lack of reliable credit information, lack of suitable collateral, and weak legal institutions. It next highlights firm heterogeneity among small and medium enterprises in accessing finance. The focus is on various policies and reforms that have been shown to be effective in improving access to credit for small and medium enterprises. The paper concludes by highlighting areas where new research could be effective
    DOI: 10.1596/1813-9450-8241
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
    MPI Ethno. Forsch.
  • 5
    Online-Ressource
    Online-Ressource
    What Determines Entrepreneurial Outcomes in Emerging Markets? : The Role of Initial Conditions (2015)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (83 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ayyagari, Meghana What Determines Entrepreneurial Outcomes in Emerging Markets?
    Kurzfassung: Is it the institutions or firm characteristics at birth that shape startups and their early growth in developing countries? Using comprehensive data from the Indian Annual Survey of Industries this paper addresses this question by studying the early lifecycle of firms across diverse institutional environments of regions in India. It finds that the size and characteristics of a start-up at entry are persistent over the first eight years of a firm's life. However, given these initial conditions at entry, institutions do not have much explanatory power in determining growth. The comparative growth rates of large and small start-ups are not significantly different across states with different local institutions or industries with differing reliance on external finance or need for fixed capital. But institutions, particularly the availability of credit, do have an impact on the initial entry process. Access to external finance is associated with greater overall entry, and also smaller sized entry. The results do not appear to be driven by endogeneity of access to credit or sample selection. The results show that the channel through which institutions affect the relative outcomes of young firms is through the initial distribution of firm characteristics at entry rather than their effect on the performance of the firms post entry
    DOI: 10.1596/1813-9450-7207
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
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  • 6
    Online-Ressource
    Online-Ressource
    Firm Innovation In Emerging Markets : The Roles of Governance And Finance (2007)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (56 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Ayyagari, Meghana Firm Innovation In Emerging Markets
    Schlagwort(e): Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor ; Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor ; Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor
    Kurzfassung: The authors investigate the determinants of firm innovation in over 19,000 firms across 47 developing economies. They define the innovation process broadly, to include not only core innovation such as the introduction of new products and new technologies, but also other types of activities that promote knowledge transfers and adapt production processes. The authors find that more innovative firms are large exporting firms characterized by private ownership, highly educated managers with mid-level managerial experience, and access to external finance. In contrast, firms that do not innovate much are typically state-owned firms without foreign competitors. The identity of the controlling shareholder seems to be particularly important for core innovation, with those private firms whose controlling shareholder is a financial institution being the least innovative. While the use of external finance is associated with greater innovation by all private firms, it does not make state-owned firms more innovative. Financing from foreign banks is associated with higher levels of innovation compared with financing from domestic banks
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
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  • 7
    Online-Ressource
    Online-Ressource
    Do Phoenix Miracles Exist? : Firm-Level Evidence from Financial Crises (2011)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (65 p)
    Ausgabe: 2011 World Bank eLibrary
    Paralleltitel: Ayyagari, Meghana Do Phoenix Miracles Exist?
    Kurzfassung: This paper provides empirical evidence on firm recoveries from financial system collapses in developing countries (systemic sudden stops episodes), and compares them with the experience in the United States in the 2008 financial crisis. Prior research found that economies recover from systemic sudden stop episodes before the financial sector. These recoveries are called Phoenix miracles, and the research questioned the role of the financial system in recovery. Although an average of the macro data across a sample of systemic sudden stop episodes over the 1990s appears consistent with the notion of Phoenix recoveries, closer inspection reveals heterogeneity of responses across the countries, with only a few countries fitting the pattern. Micro data show that across countries, only a small fraction (less than 31 percent) of firms follow a pattern of recovery in sales without a recovery in external credit, and even these firms have access to external sources of cash. The experience of firms in the United States during the 2008 financial crisis also suggests no evidence of credit-less recoveries. An examination of the dynamics of firms' financing, investment and payout policies during recovery periods shows that far from being constrained, the firms in the sample are able to access long-term financing, issue equity, and significantly expand their cash holdings
    DOI: 10.1596/1813-9450-5799
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
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  • 8
    Online-Ressource
    Online-Ressource
    Does Local Financial Development Matter for Firm Lifecycle in India? (2014)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (64 p)
    Ausgabe: 2014 World Bank eLibrary
    Paralleltitel: Ayyagari, Meghana Does Local Financial Development Matter for Firm Lifecycle in India?
    Kurzfassung: The differences in financial development across Indian states, while seeming substantial, have a minor effect on firm lifecycle and growth. These results hold controlling for differences in labor regulations across states, capital intensity, and for firms born before and after the major reforms. There is no evidence that firms in financially dependent industries have different lifecycle profiles or grow faster in financially developed states than underdeveloped states. Overall, firms in the formal manufacturing sector grow as they age whereas in the informal sector, firms have a declining lifecycle, but in both cases little evidence is found that financial institutions matter for firm lifecycle. The findings of this paper suggest that size and depth differences in financial development across Indian states are likely dwarfed by overall inefficiencies that characterize state-dominated financial systems, with important implications for the reforms of the Indian financial system going forward
    DOI: 10.1596/1813-9450-7008
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 9
    Online-Ressource
    Online-Ressource
    Are Large Firms Born or Made? Evidence from Developing Countries (2015)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (54 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ayyagari, Meghana Are Large Firms Born or Made? Evidence from Developing Countries
    Kurzfassung: This paper uses survey data from 120 developing countries to compare the role of institutions with firm characteristics at the time of creation of the firm in explaining the size, growth, and productivity of firms over their lifecycle. The study finds that firm-level characteristics have comparable, and sometimes even larger, power than institutional factors in predicting size and growth, but not productivity. In particular, size at birth plays a key role in predicting variation in firm size and growth since birth over the firm lifecycle, whereas country factors dominate in predicting variation in labor productivity over the firm lifecycle. The study also finds that older firms are larger, partly because of the selection of more efficient firms. The findings point to the importance of initial founding conditions in explaining variations in size and growth over the firm lifecycle across countries
    DOI: 10.1596/1813-9450-7406
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
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  • 10
    Online-Ressource
    Online-Ressource
    Access to Finance and Job Growth : Firm-Level Evidence across Developing Countries (2016)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (48 p)
    Serie: World Bank E-Library Archive
    Paralleltitel: Erscheint auch als Ayyagari, Meghana Access to Finance and Job Growth : Firm-Level Evidence across Developing Countries
    Kurzfassung: This paper investigates the effect of access to finance on job growth in 50,000 firms across 70 eveloping countries. Using the introduction of credit bureaus as an exogenous shock to the supply of credit, the paper finds that increased access to finance results in higher employment growth, especially among micro, small, and medium enterprises. The results are robust to using firm fixed effects, industry measures of external finance ependence, and propensity score matching in a complementary panel data set of more than four million firms in 29 eveloping countries. The findings have implications for policy interventions targeted to produce job growth in micro, small, and medium enterprises
    DOI: 10.1596/1813-9450-7604
    URL: Volltext  (Deutschlandweit zugänglich)
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