Notice of RetractionBank credit rationing, entrepreneur´s heterogeneity and credit financing for small and medium-sized enterprises

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

China´s small and medium-sized enterprises (SMEs) are financially constrained under China´s bank credit rationing system. Using both when a CEO is also the chairman of the board and the shares held by CEO as measures for entrepreneur´s characteristic, this paper explores the effects of entrepreneur heterogeneity on China´s SMEs´ access to bank loans. The empirical results show that when a CEO is also a chairman of the board is unfavorable for SMEs to obtain bank loans and bank credit rationing will further make it more difficult for SMEs to obtain bank loans. In addition, when an entrepreneur holds shares in a firm it will help the firm to obtain bank loans even when the bank credit rationing is serious.