The Role of Financial Inclusion in Firms’ Performance: A Multidimensional Analysis in Developing Countries

This study analyses the role of financial inclusion (FI) in firms' performance (FP). The study analysed 23 sectors and 42,744 companies in 82 developing countries using multidimensional panel data models. Analysis revealed that firms with access to financial products and services achieve higher sales than those without such access. Furthermore, firms that define access to finance as a barrier achieve lower sales than those that do not. Additionally, exports, age, foreign partnerships, and company size were found to have a positive impact on their performance. Consequently, the study determined that FI has a positive impact on FP.

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Publication Details

Journal
Sosyoekonomi
Published
2026-10-27
DOI
https://doi.org/10.17233/sosyoekonomi.2026.04.02
Primary Topic
Microfinance and Financial Inclusion
Type
article
Field-Weighted Citation Impact
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article

The Role of Financial Inclusion in Firms’ Performance: A Multidimensional Analysis in Developing Countries

Ahmet Kurtaran, Hilal Ok Ergün
2 links
Sosyoekonomi
Microfinance and Financial Inclusion
article

The Role of Financial Inclusion in Firms’ Performance: A Multidimensional Analysis in Developing Countries

Ahmet Kurtaran, Hilal Ok Ergün
article en

Abstract

This study analyses the role of financial inclusion (FI) in firms' performance (FP). The study analysed 23 sectors and 42,744 companies in 82 developing countries using multidimensional panel data models. Analysis revealed that firms with access to financial products and services achieve higher sales than those without such access. Furthermore, firms that define access to finance as a barrier achieve lower sales than those that do not. Additionally, exports, age, foreign partnerships, and company size were found to have a positive impact on their performance. Consequently, the study determined that FI has a positive impact on FP.

SosyoekonomiVol. 34(70)
Karadeniz Technical University (TR), Trabzon University (TR)
Decent work and economic growth
Openalex Percentile: Top 9%
Microfinance and Financial Inclusion
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