The literature suggest that many young and small firms are discouraged borrowers, that is, they need finance but do not apply because they fear denial. This research aims to investigate demand-side financing differences between male and female-owned small and medium enterprises in Canada from the perspective of discouraged borrowers using secondary data from the "Survey on Financing of Small and Medium Enterprises, 2004" conducted by Statistics Canada. Women-owned firms are found to be credit constrained according to some studies, but not so in others. To date, however, there remain a lack of studies examining if there is a relationship between gender and discouragement. The study uses multivariate research methods to examine such a relationship while controlling for various firm-specific (age, size, industry, etc.) and owner-specific characteristics (experience). The study finds that majority-female owned firms are more likely to be discouraged borrowers as compared to majority-male owned firms. The study also offers support to arguments that relationship banking is important in reducing the probability of discouragement in both young and established firms.

The literature suggest that many young and small firms are discouraged borrowers, that is, they need finance but do not apply because they fear denial. This research aims to investigate demand-side financing differences between male and female-owned small and medium enterprises in Canada from the perspective of discouraged borrowers using secondary data from the "Survey on Financing of Small and Medium Enterprises, 2004" conducted by Statistics Canada. Women-owned firms are found to be credit constrained according to some studies, but not so in others. To date, however, there remain a lack of studies examining if there is a relationship between gender and discouragement. The study uses multivariate research methods to examine such a relationship while controlling for various firm-specific (age, size, industry, etc.) and owner-specific characteristics (experience). The study finds that majority-female owned firms are more likely to be discouraged borrowers as compared to majority-male owned firms. The study also offers support to arguments that relationship banking is important in reducing the probability of discouragement in both young and established firms.

Esta dissertação tem como tema o “desemprego oculto pelo desalento", procurando, a partir da análise das histórias de trabalho de pessoas que experimentaram a situação de desemprego por desalento, refletir sobre questões ligadas à cultura do trabalho, à cultura do emprego e ao enraizamento. O trabalho tem como ponto de partida uma breve reflexão sobre as diferentes maneiras de medir o desemprego e segue apresentando e analisando sete trajetórias de trabalho – um homem adulto, duas mulheres adultas e quatro jovens. A análise das trajetórias permite recolher vários elementos que iluminam os valores e as práticas associadas às culturas do trabalho e do emprego, bem como ensinam sobre os limites e as possibilidades de reinvenção das relações com o trabalho quando se tem como referência a vida cotidiana dos indivíduos. Finalmente, conclui-se que o desemprego por desalento pode estar significando sociologicamente a dificuldade experimentada pelos indivíduos para interpretar, na esfera privada, o significado e o sentido das rápidas mudanças que têm lugar no mundo do trabalho. / This dissertation deals with the universe of the “discouraged unemployed", reflecting on the issue of a “culture of work", a “culture of employment" and the question of embededness. The exposition begins with a brief consideration about the different ways of measuring the phenomenon of unemployment and follows on introducing seven histories of work – an adult male, two adult female and four young people. The examination of these histories allows us to collect several elements which serve to illuminate the values and practices that are related to work and employment cultures. Also, they can instruct us about the limits and the possibilities that are given at the present time for us to reinvent the terms with regard to work, having as reference individual’s everyday life. At last, we come to the conclusion that “discouraged unemployed" can mean, in sociological terms, the uneasy experience of understanding – within the private sphere – the sense of all those fast changes that are happening on labor’s world.

Esta dissertação tem como tema o “desemprego oculto pelo desalento”, procurando, a partir da análise das histórias de trabalho de pessoas que experimentaram a situação de desemprego por desalento, refletir sobre questões ligadas à cultura do trabalho, à cultura do emprego e ao enraizamento. O trabalho tem como ponto de partida uma breve reflexão sobre as diferentes maneiras de medir o desemprego e segue apresentando e analisando sete trajetórias de trabalho – um homem adulto, duas mulheres adultas e quatro jovens. A análise das trajetórias permite recolher vários elementos que iluminam os valores e as práticas associadas às culturas do trabalho e do emprego, bem como ensinam sobre os limites e as possibilidades de reinvenção das relações com o trabalho quando se tem como referência a vida cotidiana dos indivíduos. Finalmente, conclui-se que o desemprego por desalento pode estar significando sociologicamente a dificuldade experimentada pelos indivíduos para interpretar, na esfera privada, o significado e o sentido das rápidas mudanças que têm lugar no mundo do trabalho. / This dissertation deals with the universe of the “discouraged unemployed”, reflecting on the issue of a “culture of work”, a “culture of employment” and the question of embededness. The exposition begins with a brief consideration about the different ways of measuring the phenomenon of unemployment and follows on introducing seven histories of work – an adult male, two adult female and four young people. The examination of these histories allows us to collect several elements which serve to illuminate the values and practices that are related to work and employment cultures. Also, they can instruct us about the limits and the possibilities that are given at the present time for us to reinvent the terms with regard to work, having as reference individual’s everyday life. At last, we come to the conclusion that “discouraged unemployed” can mean, in sociological terms, the uneasy experience of understanding – within the private sphere – the sense of all those fast changes that are happening on labor’s world.

<p>The objective of this study was to investigate some socio-demographic aspects and implications of youth unemployment in Galeshewe Township. The study makes use of descriptive statistics to analyze and interpret data collected from a random survey of 947 young persons aged between 18 and 35 years old. An individual questionnaire was administered during the interviews. The results indicate that most unemployed youths are between the ages of twenty-five and twenty-nine years and the majority of them are females. About 58.5% of the unemployed youths have completed secondary education, with 8.9% of them having obtained a tertiary diploma or degree. The majority of the youth do not have previous work experience and this handicaps their ability to secure employment. Most of these young people originate from areas outside Galeshewe. The views collected from the unemployed youth point to the need for government to ensure that tertiary education is accessible in the city in order to improve the level of education of the youth. The government also needs to provide more targeted job creation schemes, especially to those who did well at matriculation level, and to also empower the youth through other skills acquisitions as well as training and programmes that are available.</p>

<p>The objective of this study was to investigate some socio-demographic aspects and implications of youth unemployment in Galeshewe Township. The study makes use of descriptive statistics to analyze and interpret data collected from a random survey of 947 young persons aged between 18 and 35 years old. An individual questionnaire was administered during the interviews. The results indicate that most unemployed youths are between the ages of twenty-five and twenty-nine years and the majority of them are females. About 58.5% of the unemployed youths have completed secondary education, with 8.9% of them having obtained a tertiary diploma or degree. The majority of the youth do not have previous work experience and this handicaps their ability to secure employment. Most of these young people originate from areas outside Galeshewe. The views collected from the unemployed youth point to the need for government to ensure that tertiary education is accessible in the city in order to improve the level of education of the youth. The government also needs to provide more targeted job creation schemes, especially to those who did well at matriculation level, and to also empower the youth through other skills acquisitions as well as training and programmes that are available.</p>

Magister Commercii - MCom / The objective of this study was to investigate some socio-demographic aspects and implications of youth unemployment in Galeshewe Township. The study makes use of descriptive statistics to analyze and interpret data collected from a random survey of 947 young persons aged between 18 and 35 years old. An individual questionnaire was administered during the interviews. The results indicate that most unemployed youths are between the ages of twenty-five and twenty-nine years and the majority of them are females. About 58.5% of the unemployed youths have completed secondary education, with 8.9% of them having obtained a tertiary diploma or degree. The majority of the youth do not have previous work experience and this handicaps their ability to secure employment. Most of these young people originate from areas outside Galeshewe. The views collected from the unemployed youth point to the need for government to ensure that tertiary education is accessible in the city in order to improve the level of education of the youth. The government also needs to provide more targeted job creation schemes, especially to those who did well at matriculation level, and to also empower the youth through other skills acquisitions as well as training and programmes that are available. / South Africa

Cette thèse se compose de quatre essais portant sur les effets des contraintes de financement sur l'utilisation du crédit commercial (TC) et d'autres sources alternatives de financement des entreprises. Dans le premier essai, nous étudions les effets des contraintes sur l'emprunt bancaire (BL) sur l'utilisation du TC par les entreprises vietnamiennes. Nous étudions plus particulièrement l’effet de la taille sur le choix entre les deux types de financement. Nous constatons que les grandes entreprises lorsqu’elles sont rationnées sur les BL comptent plus sur le TC que les petites et moyennes entreprises (PME). En particulier, nous constatons que les grandes entreprises dont la demande de crédit a été refusée utilisent plus de TC tandis que les PME dans la même situation en utilisent moins. Dans le deuxième essai, nous étudions les effets des contraintes sur les BL sur l’utilisation du TC en fonction de la taille et de l'âge des entreprises ainsi que du développement institutionnel des différents pays. Nos résultats suggèrent que le TC et le BL ont tendance à être des substituts pour les entreprises les plus grandes, les plus âgés et lesquelles situées dans les pays développés (développement institutionnel plus fort). En revanche, le TC et le BL sont complémentaires pour les entreprises les plus jeunes, les plus petites et lesquelles situées dans les pays en développement (développement institutionnel faible). Ce résultat est particulièrement net dans le cas où la demande de crédit est refusée. Dans notre troisième essai, nous étudions les effets des contraintes sur les BL sur l'utilisation de six sources alternatives de financement par les PME dans le monde entier. Les formes de financement étudiées sont: le TC, le crédit-bail, les cartes de crédit, la finance informelle, les fonds provenant de la famille et des amis et les capitaux propres. Nos résultats suggèrent généralement que les PME rationnées par les banques ont tendance à compter davantage sur les fonds de la famille et des amis et sur les prêts des usuriers. Nous trouvons aussi qu'elles utilisent les modes de financement alternatifs plutôt pour financer le fonds de roulement que pour financer de nouveaux investissements. Dans le dernier essai, à partir d’un échantillon d'entreprises non financières du S&P 500, nous examinons l'interaction entre l'utilisation du papier commercial (CP), des lignes de crédit bancaire (CL) et du TC sur la période 2003 à 2014. Nos résultats suggèrent que les entreprises avec le risque de refinancement le plus élevé empruntent plus sous la forme de CL et de TC que sous la forme de CP. Cet effet est plus fort pour les CL. Nous constatons également que plus le niveau d'asymétrie d’information est fort, plus les entreprises utilisent les CL et le TC par rapport à CP. En revanche, plus les problèmes d'aléa moral sont graves, plus les entreprises favorisent les CP par rapport aux CL et TC. / This thesis consists of four essays investigating the effects of financing constraints on firms' use of trade credit (TC) and other alternative financing sources. In the first essay, we investigate the effects of bank loan (BL) constraints on the use of TC by Vietnamese firms across size. We find that bank-constrained large firms rely on TC more than bank-constrained Small and Medium-sized Enterprises (SMEs). Particularly, we find that denied large firms use more TC whereas denied SMEs use less of it. In the second essay, we study the effects of BL constraints on firm's use of TC across size, age and institutional development by using an international sample. Our results suggest that TC and BL tend to be substitutes for larger, older firms and those in developed countries with stronger institutional development; and complements for smaller, younger firms and those in developing countries with weaker institutional development, especially when constraints relate to credit denial. In our third essay, we investigate the effects of BL constraints on the use of six alternative financing sources by SMEs worldwide, i.e. TC, leasing, credit cards, informal finance, sources from family and friends and equity. Our results generally suggest that bank-constrained SMEs tend to rely more on sources from family and friends and those from money lenders. We also find that they use alternative financing to finance working capital requirement to a greater extent as compared to new investments. In the last essay, by using a sample of nonfinancial S&P 500 firms, we examine the interplay between the use of commercial paper (CP), bank credit lines (CL) and TC for the period 2003-2014. Our results suggest that firms with higher rollover risk borrow more from CL and TC relative to CP with a stronger effect for CL. We also find that higher level of asymmetric information is associated with more usage of CL and TC relative to CP while more severe moral hazard problems are associated with more usage of CP relative to CL and TC.