Mittuniversitetet

Successful implementation of e-banking technology depends on how consumers perceive the technology and how likely they are to adopt it. Although several studies have analysed the impact of some specific negative emotions, few studies examine a broad range of consumers’ negative emotions (i.e. both deterrence and loss emotions) arising from appraisals of e-banking technology. This study investigates the possible relationships between deterrence and loss emotions, and consumers’ behavioural intention to adopt emerging e-banking technology. Based on the unified theory of acceptance and use of technology, partial least squares structural equation modelling was used to analyse a conceptual model and related hypotheses. The empirical evidence draws attention to the relationship between loss emotions and consumers’ behavioural intention to adopt emerging e-banking technology through effort expectancy and performance expectancy, respectively. 

Purpose: The purpose of this study is to empirically investigate the relationship between a set of functional and social–psychological barriers and bank customers’ intention to fully adopt digital payment methods (DPMs). Design/methodology/approach: The data were collected via an online questionnaire sent to two samples of Swedish bank customers, namely, adopters-accepters (i.e. young bank customers) and adopters-resisters (i.e. a group opposing a cashless society). Hypotheses were tested by applying an ordinal regression model. Findings: Regarding the adopters-accepters, privacy and access barriers can be obstacles to the full adoption of DPMs. The adopters-resisters perceived all five studied barriers as significant, though only the impersonalisation barrier seemed to matter when the barriers were related to their intention to fully adopt DPMs. Moreover, the results suggest that barriers have a stronger negative effect on the intention to fully adopt among those with extensive experience of DPMs. Practical implications: Based on the barriers affecting the intention of particular groups of bank customers to adopt DPMs, banks could implement customised measures to promote the ongoing development of digital financial services. Originality/value: In this under-researched area, this study provides empirical knowledge of the influence of various barriers on the intention of bank customers characterised as adopters-accepters and adopters-resisters to fully adopt DPMs. 

Purpose: The main purpose of this study is to describe and analyse the relationship between the 2008–2009 global financial crisis and small and medium-sized enterprises' cost of debt capital. Design/methodology/approach: Statistical methods, including multiple OLS and dynamic panel data, were used to analyse a longitudinal cross-sectional panel dataset of 3865 Swedish SMEs operating in five industry sectors over the 2008–2015 period. Findings: The results suggest that the cost of debt was influenced by the financial crisis and another macroeconomic factor, i.e. the interbank interest rate, and by firm-specific factors such as firm size and lagged cost of debt. Originality/value: To the authors' best knowledge, this is one of few studies to examine the cost of debt among SMEs during the crisis and post-crisis periods using data from a large-scale, longitudinal, cross-sectional database. 

As a contribution to research and theorizing on the economic role of new firm formation, we undertake the first ever investigation of regional employment effects of the entry of new social firms. Our study is guided by an established model of the employment effects of new firm entry over time and provides a direct comparison to the employment effects of commercial entrants. Our results show that the net employment effect of new social firms follows a wave pattern over the study’s eight-year horizon, apparently produced by the same combination of direct and indirect effects previously theorized for new commercial entrants. The results also indicate that net employment effect per social firm entrant is larger than for commercial firms. The study provides a first empirical assessment of employment creation effects of new social firms and contributes to a more nuanced theoretical understanding of employment effects across types of entrants. By specifying the economic contribution of social firms our study can open up a new track in social entrepreneurship research and provide important input to employment policy.

Purpose: The purpose of this study is to empirically investigate determinants of financial distress among small and medium-sized enterprises (SMEs) during the global financial crisis and post-crisis periods. Design/methodology/approach: Several statistical methods, including multiple binary logistic regression, were used to analyse a longitudinal cross-sectional panel data set of 3,865 Swedish SMEs operating in five industries over the 2008–2015 period. Findings: The results suggest that financial distress is influenced by macroeconomic conditions (i.e. the global financial crisis) and, in particular, by various firm-specific characteristics (i.e. performance, financial leverage and financial distress in previous year). However, firm size and industry affiliation have no significant relationship with financial distress. Research limitations: Due to data availability, this study is limited to a sample of Swedish SMEs in five industries covering eight years. Further research could examine the generalizability of these findings by investigating other firms operating in other industries and other countries. Originality/value: This study is the first to examine determinants of financial distress among SMEs operating in Sweden using data from a large-scale longitudinal cross-sectional database. 

Enligt  Tillväxtverket  går  över  hälften  av  alla  nystartade  företag  i  Sverige  i  konkurs  inom  fem  år.Bakom en formell konkurs ligger ekonomiska svårigheter, vilka kan vara företagsspecifika, bransch-relaterade  eller  kopplade  till  makroekonomiska  förhållanden.  De ekonomiska  problemen kan komma  plötsligt,  men  företag  som  går  i  konkurs  kan  också  ha  levt  med s.k.  finansiell  stress under en förhållandevis lång tid. I denna studie undersöker Darush Yazdanfar och Peter Öhman vid CER vad  som  kan förklara finansiell  stress  i  små  och  medelstora  företag. Resultaten  visar  att många företag  som  har  detta  problem  ett  visst  år  också  är  finansiellt  stressade året  därefter  och  att  föregående  års  finansiella  stress  är  den  dominerande förklaringen till detta  tillstånd.  Det  styrker  tidigare resultat från andra länder att många företag som går i konkurs har levt med finansiell stress under  flera  år.  Även  andra  företagsspecifika  faktorer  samt  makroekonomiska  förhållanden  (i  detta  fall den senaste globala  finanskrisen)  ligger  bakom  att  små  och  medelstora  företag  drabbas  av  finansiell  stress.  Däremot  tycks  företags  storlek  eller  i  vilken  bransch  de  verkar  sakna  betydelse.  Forskningsresultaten har tidigare publicerats i den internationella tidskriftsartikeln ”Financial distress determinants among SMEs: Empirical evidencefrom Sweden” (Yazdanfar och Öhman, 2020).

This paper aims to give insights upon the main challenges that bank customers can encounter and their relationships to digital payment methods usage. An online survey will be applied for collecting data and sent to critical network groups (who are also bank customers). Additional virtual observations will be employed. Factor analysis is considered to be conducted to purify the data and to prepare for further analysis, i.e. regression models.

Purpose The purpose of this paper is to empirically examine capital structure determinants of small- and medium-sized enterprises (SMEs) during and after the global financial crisis. Design/methodology/approach Statistical methods, including ordinary least squares and the generalised method of moments, were used to analyse a sample of over 40,800 Swedish SMEs operating in four industries during the 2008-2015 period. Findings The results indicate that the independent variables - i.e. financial crisis, profitability, size, tangibility and industry affiliation - to various degrees explain changes in short-term debt (STD) and long-term debt (LTD) ratios. In particular, the empirical findings indicate that the sampled SMEs tended to rely more on STD and LTD during (2008-2009) than after (2010-2015) the financial crisis. Originality/value This study is one of few examining determinants of short- and long-term SME debt during and after the global financial crisis, using data from a large-scale cross-sectional database.