The key contribution of this paper is an empirical examination of the financial growth life cycle model by combining a number of statistical tests. This approach is significantly different to that traditionally adopted in empirical investigations of SME financing, which is to examine the...

Purpose – This paper aims to empirically examine the financing of small and medium sized enterprises (SMEs) through a financial growth lifecycle model. Design/methodology/approach – Data in publicly available databases are generally unsuitable to examine the financial lifecycle model, thus a...