Recent entrepreneurial finance literature identifies ‘borrower discouragement’ as an important phenomenon explaining why female entrepreneurs hold less capital to grow their venture. But how do you become a discouraged borrower? We apply grounded theory to interviews with Tanzanian female entrepreneurs and model the process via which these entrepreneurs become discouraged. Our model suggests that entrepreneurs hold negative perceptions regarding loan application, allocation and payback procedures shaped by both internal and external information sources. We demonstrate that negative perceptions cause an unfavorable attitude towards formal loans which together with entrepreneurs' perceptions of societal norms lead to a low intention to apply.

最近的创业金融文献将“借款人气馁”确定为解释为什么女性企业家持有较少资本来发展他们的企业的一个重要现象。但是你如何成为一个气馁的借款人呢？我们将扎根理论应用于对坦桑尼亚女企业家的采访，并对这些企业家灰心丧气的过程进行建模。我们的模型表明，企业家对由内部和外部信息来源塑造的贷款申请、分配和偿还程序持有负面看法。我们证明了负面看法会导致对正式贷款的不利态度，再加上企业家对社会规范的看法导致申请意愿低下。