Dysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africa

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dc.contributor.advisorUliana, Enricoen_ZA
dc.contributor.authorVon Blottnitz, Magalien_ZA
dc.date.accessioned2014-07-31T12:12:59Z
dc.date.available2014-07-31T12:12:59Z
dc.date.issued2009en_ZA
dc.descriptionIncludes abstract.
dc.descriptionIncludes bibliographical references (p. 212-228 ).
dc.description.abstractThe existence and prevalence of financial constraints has been extensively discussed in the international economic literature, and is implicit in debates on the performance and needs of South Africa’s Small, Medium and Micro Enterprises (SMMEs). However, there is little solid research measuring financial constraints among South African SMMEs. In addition, the reasons advanced for their financial constraints are often speculative and anecdotal rather than the result of sound research. The hypothesis of credit rationing, resulting from information asymmetries, is well established in theory but an additional explanatory hypothesis, the fragile financial structure of SMMEs, is often voiced by the South African finance community. With South African data being scarce and patchy, none of these hypotheses has been validated by empirical studies. The most likely reason for these gaps in literature is not a lack of interest, but the considerable difficulty of raising reliable data from SMMEs, a joint result of confidentiality, widespread informality in the sector, and the limitations of publicly available statistics in developing countries. Surveys of banks or SMMEs raise risks of partiality and limited ability of respondents to provide quantitative data, while accounting data are characterised by limited usability and reliability. This thesis attempts to address those challenges by exploring primary and secondary sources of data, combining the respective strengths of interview and financial data.en_ZA
dc.identifier.apacitationVon Blottnitz, M. (2009). <i>Dysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africa</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,College of Accounting. Retrieved from http://hdl.handle.net/11427/5620en_ZA
dc.identifier.chicagocitationVon Blottnitz, Magali. <i>"Dysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africa."</i> Thesis., University of Cape Town ,Faculty of Commerce ,College of Accounting, 2009. http://hdl.handle.net/11427/5620en_ZA
dc.identifier.citationVon Blottnitz, M. 2009. Dysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africa. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Von Blottnitz, Magali AB - The existence and prevalence of financial constraints has been extensively discussed in the international economic literature, and is implicit in debates on the performance and needs of South Africa’s Small, Medium and Micro Enterprises (SMMEs). However, there is little solid research measuring financial constraints among South African SMMEs. In addition, the reasons advanced for their financial constraints are often speculative and anecdotal rather than the result of sound research. The hypothesis of credit rationing, resulting from information asymmetries, is well established in theory but an additional explanatory hypothesis, the fragile financial structure of SMMEs, is often voiced by the South African finance community. With South African data being scarce and patchy, none of these hypotheses has been validated by empirical studies. The most likely reason for these gaps in literature is not a lack of interest, but the considerable difficulty of raising reliable data from SMMEs, a joint result of confidentiality, widespread informality in the sector, and the limitations of publicly available statistics in developing countries. Surveys of banks or SMMEs raise risks of partiality and limited ability of respondents to provide quantitative data, while accounting data are characterised by limited usability and reliability. This thesis attempts to address those challenges by exploring primary and secondary sources of data, combining the respective strengths of interview and financial data. DA - 2009 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2009 T1 - Dysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africa TI - Dysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africa UR - http://hdl.handle.net/11427/5620 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/5620
dc.identifier.vancouvercitationVon Blottnitz M. Dysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africa. [Thesis]. University of Cape Town ,Faculty of Commerce ,College of Accounting, 2009 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/5620en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentCollege of Accountingen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherAccountingen_ZA
dc.titleDysfunctional market or insufficient creditworthiness? : an exploration of financial constraint experienced by small, medium and micro enterprises in South Africaen_ZA
dc.typeDoctoral Thesis
dc.type.qualificationlevelDoctoral
dc.type.qualificationnamePhDen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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