This paper links the economist's analysis of free trade with the business strategist's analysis of the forces behind the globalization of competition. It argues that, although the drive to globalization may seem different from the seeking of superior outcomes in competitive markets, this may be...

This work concerns the development of new methods of accounting for risk in high-technology ventures. The paper enquires into attitudes to risk and skills at risk management, in the relationship between high-technology firms and their venture capital backers. The basic prescription behind the...

The theme of this paper is developed in three parts. The first is concerned with methodology. The case is argued for a 'grounded' approach to the analysis of business economics. The second is concerned with intellectual history. It argues that the great economists, such as Smith, used this...

This paper examines the financial structure and performance of a sample of 150 young micro-firms. Their average age is one and a half years; and their average size is three full-time employees. Short-run performance is measured over one year, in terms of continuing to trade, and the evidence is...

This paper is designed to explore the nature of information system development in small and medium sized enterprises (SMEs), by appeal to three theories: contingency, agency and markets vs hierarchies. To address these theories empirically, use is made of new data which have been gathered from a...

A dynamic theory of the small firm is expounded, assuming entrepreneurs maximise business value over a finite time horizon. Its predicted trajectories for key financial variables depend on which of debt and equity are cheaper. The predictions are compared with empirical evidence constructed from...

This paper argues that the informational requirements for good decision making in small and medium sized enterprises (SMEs) are complex and adaptive. It identifies the basic information needs of the SME, and considers how information is used to guide decisions. It argues that accounting...

This study examines the origins and characteristics of information systems of entrepreneurial firms going through that stage in their life cycle when serious growth ambitions are fuelled by an infusion of external capital. It does so by investigating the consequences of venture capital...

This paper has two goals. First, to provide an accurate characterisation of the new small firm in Scotland by reference to markets, finance, costs, business strategy, human capital, internal organisation and technical change. Second, to use these same features to discover salient differences...

This paper focuses on a new concern in the small firm’s literature, namely what makes a small firm stay in business for a long time. It reflects a change in economic policy, away from an emphasis on volume of start-ups to an emphasis on quality of start-ups. The basic hypothesis is that...