The purpose of this paper is to provide a direct test of the small-firm uniqueness hypothesis advanced by Ang (1991). We do this by using the 5B-IPO program of the SEC as our instrument to define a small firm. Having identified small firms, we test the three IPO anomalies to see if small firms...

The existing finance literature is inadequate with respect to its coverage of the debt structure of small and medi-um sized enterprises (SMEs). In addition, the role of trust in accessing finance for such enterprises is under-investigated. This paper presents a mathematical model for optimizing...

Previous research on relationship lending has paid very little attention to the role of trust. Trust might be ex-pected to reduce agency costs, perceived credit risk and thus the request for personal collateral. Trustworthiness is associated with three attributes of SME owner/managers’:...

When credit application experiences are examined, minority-owned small firms are not the discouraged borrowers that credit outcome studies generally suggest. This paper examines repeated application for credit by small firms. Univariate statistical analysis reveals that persistence is necessary...

Failure of small businesses many times is because of poor implementation of long-term financial strategies. Women small business owners face many challenges in financing their small businesses because they may not have a financial plan. Interviews with 11 women small business owners in Cleveland...

We examined the extent to which SMEs financing influenced economic growth in Nigeria through the use of time-series data from 1999-2018. After a literature search, other factors possessing the potential to influence the dependent variable ASGDP was added to the research model. Relying on...

The purpose of this research is to examine the impact of microfinance bank credit and its debt servicing on the profitability of SMEs in Alimosho Local Government Area, Lagos State, Nigeria. A survey was carried out involving 387 SMEs in Alimosho LGA, Lagos State and information was extracted...

Using panel data models and two research sub-samples composed of smaller and larger VC-backed, this study seeks to analyze the relationship between investment and internal cash flows. The results indicate that the investment sensitivity to internal cash flows is greater in larger than in the...