Proceedings of the 31st International Business Information Management Association Conference
We study the relationship between SMS (small medium size) firm ownership structure and obstacle to finance. The empirical research considers both the concentration of the company's ownership (controlling owner) and the presence of foreign participants in the equity capital. Our aim is to identify those determinants of financial markets (bond market development), legal institutions and firms characteristics in the transition economies of the post soviet countries that can be considered as barriers to attracting financial resources. This paper sheds light on large shareholders’ influence on obstacle to finance.
The article considers a system of factors that contribute to the successful development of national regions. The author emphasizes that, despite the fact that each factor is very important for the economic development different regions, the biggest effect can be obtained by using the entire set of factors due to the their interconnection. Such interconnection should be taken into account in the documents defining the development strategy of certain territories.