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.