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Successful decision making in small firms requires the availability of financial information and its deployment in a … irregular use of financial information in small firm decision contexts. Rather than seeking to justify these departures within … provide an appropriate framework for the study of small firms. Financial information in this alternative framework is likely …
Persistent link: https://www.econbiz.de/10010790705
There is an increased interest in small companies and entrepreneurship among academicians and policy makers. The melting of the cold war and the collapse of the socialist economies of the Soviet bloc, in combination with the interest of the affected countries in imitating some form of...
Persistent link: https://www.econbiz.de/10010790633
A simple single-period model of entrepreneurial capital structure choice under conditions of informational asymmetry is developed. The uncertain terminal cash flow generated by a business venture is assumed to depend on both the amount of effort provided by the entrepreneur and the quality of...
Persistent link: https://www.econbiz.de/10010790725
While academic research concerning capital structure of large corporations has been abundant in the finance literature, studies of small firms have been somewhat less common, and investigation of capital structure at origin (start-up) has been virtually nil. In this paper we present empirical...
Persistent link: https://www.econbiz.de/10010790726
This essay is intended to begin the elaboration of a theme: the interaction between the observed sizes of firms and their internal decision making procedures. This theme is a major one in the symphony of entrepreneurial activity. The entrepreneur, as the maker and changer of economic and...
Persistent link: https://www.econbiz.de/10010790615
, information asymmetries) a survey was designed in an attempt to gauge the relevance of several theories of capital structure. The …. Implications arising from agency cost, information asymmetry, and signaling theory apparently have little impact on capital …
Persistent link: https://www.econbiz.de/10010790627
Existing theories of the firm are silent with respect to cross-sectional differences in performance or characteristics of firms attributable to different types of managers. We hypothesize that the investment, financing and dividend decisions of founders differ systematically from those of...
Persistent link: https://www.econbiz.de/10010790642
growth or high levels of information asymmetry and therefore high monitoring costs. …
Persistent link: https://www.econbiz.de/10010790659
Previous studies of large versus small company performance, though frequent, have not produced a clear answer as to whether large companies outperform small companies or vice versa. This article highlights retentions - the fact that different companies have different dividend policies —as a...
Persistent link: https://www.econbiz.de/10010790663
The purpose of this study is to examine the cash conversion cycle as an indicator of the company’s liquidity, to determine the relationship of the cash conversion cycle with the current and the quick ratios and with its component variables, and to investigate the implications of the cash...
Persistent link: https://www.econbiz.de/10010790683