Business elevators : an innovative model for accelerating growth of SMEs in developing markets
Name
808374143-MIT.pdf
Description
Full printable version
Size
12.58 MB
Format
Adobe PDF
Checksum (MD5)
0d0f2c3f164214b751e8236f098903f5
Author(s)
Cárdenas E., Fernando
Advisor(s)
Antoinette Schoar.
Alternative Title
Innovative model for accelerating growth of small and medium enterprises in developing markets
Date Issued
2012
Publisher
Massachusetts Institute of Technology
Abstract
Difficulties in finding adequate sources of financing and lack of managerial capital are two of the most important reasons hindering growth and innovation of SMEs in developing countries. The need for sophisticated financial contracts that allow for separation of ownership and control is today a fundamental element for the existing models that try to address these issues. In this study I investigate alternative mechanisms for effectively achieving the same objectives in markets where the financial infrastructure is less developed and standard common law contracting tools are not available. This research focuses on three specific topics: liquidity, control rights and asymmetric information. It examines the available literature and the practical experience of investors, entrepreneurs and other agents in a representative market like Colombia, to develop a new framework for analyzing the financing strategy of SMEs and presents an innovative business model for supporting their growth in developing markets based on alternative mechanisms that facilitate the combination of financial and managerial capital to stimulate growth and innovation.
Description
Thesis (S.M.)--Massachusetts Institute of Technology, Sloan School of Management, 2012.
Cataloged from PDF version of thesis.
Includes bibliographical references (p. 101-107).
Subjects
Sloan School of Management.
MIT Department
Sloan School of Management
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