2023年小额贷款与创业能力中英文对照外文翻译文献.docx

小额贷款与创业能力中英文对照外文翻译文献 　文献信息 　文 　献 　标 　题 　：An empirical investigation of the interplay between microcredit, institutional context, and entrepreneurial capabilities（小额信贷、制度环境与创业能力之间相互作用的实证研究） 　文献作者：Jonathan Kimmitt， Mariarosa Scarlata，Dimo Dimov 　文献出处：《Venture Capital》 ,2022,18(3):257ndash;276 　字数统计：英文 3661 单词，2162022 字符；中文 6504 汉字 　外文文献 　An empirical investigation of the interplay between microcredit, institutional context, and entrepreneurial capabilities Abstract Understanding under which conditions microcredit is used by new, growing ventures is becoming increasingly pertinent to scholars. This paper investigates the interplay of the use of microcredit with entrepreneurial capabilities and the moderating role of institutional development in sub-Saharan Africa. Our findings show that higher constraints to entrepreneurial capabilities are associated with higher use of microcredit. In addition, we find that new, growing ventures use microcredit more where either economic or political institutions are less developed. Our findings suggest the importance of the existence of some type of institutional strength that must be in place to form the basis for microcredit activity. This allows for speculation as to whether microcredit works as the literature currently assumes. KEYWORDS: Capabilities; entrepreneurial finance; institutions; microfinance 　1.Introduction 　Entrepreneurial activity is strongly influenced by the context it is embedded in (Baumol 2022, 2022; Autio and Acs 2022; Welter 2022). Particularly in emerging markets, entrepreneurs face a number of challenges, such as the mixed success of innovation (Bradley et al. 2022), weak institutions (Acemoglu 2022), and low human capital levels (Acs and Virgill 2022). One particular challenge for these entrepreneurs is access to finance (Honohan 2022) which can lead them into poverty traps (Berthelemy and Varoudakis 2022), ultimately undermining their ability to freely choose among options (Gries and Naudeacute; 2022) and pursue the goals they value (Alkire 2022). A financial sector that is well developed, on the contrary, would give them the instrumental capability to more adequately participate in economic exchange (Sen 2022; Beck, Demirguuml;ccedil;-Kunt, and Levine 2022). To respond to funding challenges that particularly characterize developing economies, the provision of microfinance to entrepreneurs has been regarded as an important part of the strategy through which livelihoods could be improved (Mair and Marti 2022; Peredo and Mclean 2022; Khavul 2022). Microfinance institutions (MFIs) pursue profit-making strategies that facilitate and support the ongoing activity of capital provision to entrepreneurs while also trying to extend their services and drive outreach (Morduch 2022; Fernando 2022). By providing microcredit, savings, insurance, and retirement plans, individuals are able to obtain capital which can be used to finance the creation and the survival of new ventures (Campbell 2022; Khavul 2022). As such, microcredit allows entrepreneurs to build assets and economic resources, while creating employment opportunities and services for local communities (Helms 2022). This can ultimately have an effect on individuals capabilities and the contexts entrepreneurs operate in (Mair and Marti 2022). Current debates in the microcredit and microfinance literature have focused on the dynamics through which microcredit is deployed, particularly to women, as well 　as its effectiveness (cfr. among others Mair, Marti, and Ventresca 2022; Milanov, Justo, and Bradley 2022; Chliova, Brinckmann, and Rosenbusch 2022), how microfinance institutions function (cfr. among others, Morduch 2022; Armendariz and Morduch 2022) as well as their level of sustainability (cfr. among others, Gonzalez- Vega 2022; Morduch 2022), and their ability to shape the context they operate in (cfr. among others, Mair and Marti 2022; Khavul, Chavez, and Bruton 2022). Research has also indicated that institutional quality determines the performance of MFIs in periods of financial crisis (Silva and Chaacute;vez 2022) and that institutions influence how entrepreneurial finance is channeled to entrepreneurs in developing economies (Eid 2022). However, Beck (2022) and McKenzie and Woodruff (2022) indicate that small and medium-sized businesses, often called missing middle, offer high returns on investments in these contexts. Yet, they remain underserved financially and overlooked by researchers. We also know that empirical access to finance is a critical issue for firms in developing economies and microcredit is a particular type of high- risk debt which may not always be sought after (Hulme 2022; George 2022). In addition, if context shapes entrepreneurship and sets the boundaries for entrepreneurial action (Welter 2022), it is not clear (a) whether ventures using microcredit are those whose capabilities are constrained the most by the environmen。