Social ties between SME managers and bank employees: Financial consequences vs. SME managers' perceptions |
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| Institution: | 1. Ono Academic College, 104 Tzahal St., Kiryat Ono 55000, Israel;2. Ruppin Academic Center, Emek Hefer, Israel;1. School of Economics and Commerce, South China University of Technology, Guangzhou, China;2. Shool of Finance, Zhejiang Gongshang University, Hangzhou, China;3. School of Finance, Zhongnan University of Law and Economics, Wuhan, China;4. School of Business and Management, Shanghai International Studies University, Shanghai, China;1. Department of Finance, Deakin Business School, Deakin University, Australia;2. Department of Economics and Finance, La Trobe Business School, La Trobe University, Australia;3. Centre for Financial Econometrics, Deakin Business School, Deakin University, Melbourne, Australia |
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| Abstract: | We investigate whether social ties between SME managers and bank employees affect SME access to lending, investment, growth and profitability. On the one hand, we examine the influence of social ties on financial indicators based on SME financial statements; on the other hand, we study the impact of social ties on SME managers' perceptions of their firms' main banks. Using a dataset from Poland, we find that social ties improve SMEs' access to bank financing and stimulate their investments. However, this positive impact occurs only when social ties involve bank decision-makers. In contrast, SME managers perceive all types of social ties with bank workers as valuable. |
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