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Control Reluctance and Legitimacy for SMEs Applying Bank Loans

Lacatus, Viorel Dorin and Vaidean, Viorela Ligia (2007): Control Reluctance and Legitimacy for SMEs Applying Bank Loans. Published in: Analele Universităţii din Oradea , Vol. II, No. Știinţe Economice, TOM XVI, Volumul II – Secțiunea: Finance, Accounting and Banks (2007): pp. 415-418.

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SMEs attitude versus external financiers, mainly bank loans, is a constant subject of change, especially for transition economies because it is critical to SMEs’ success in exploiting, indeed surviving, the rapid globalization of markets. The circumstances under which SMEs may accept outside control, evolving towards more openness, are determined by their financial status, the devepolment of technology, size and growth needs. The enterprises’ legitimacy, determined by professional management practices, networking and growth stage, positively influences SMEs’ accessibility to bank financing.

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