The effect of life cycles on diversification of financing sources for SMEs : evidence from Argentina

We examined the effects of life cycle approaches on the capital structure of small and medium enterprises (SMEs) and tested the implications of these approaches using a sample of firms from Bahia Blanca (Argentina). We analysed the relationships between the diversification of financing sources and...

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Detalles Bibliográficos
Autores principales: Briozzo, Anahí Eugenia, Vigier, Hernán P.
Lenguaje:Inglés
Publicado: Academic Journal 2018
Materias:
Diversification of financing sources
financial growth cycle
SME
multinomial logit model
Acceso en línea:http://repositoriodigital.uns.edu.ar/handle/123456789/4424
Aporte de:
Repositorio Institucional Universidad Nacional del Sur (UNS) de Universidad Nacional del Sur
id I20-R126123456789-4424
record_format dspace
institution Universidad Nacional del Sur
institution_str I-20
repository_str R-126
collection Repositorio Institucional Universidad Nacional del Sur (UNS)
language Inglés
orig_language_str_mv eng
topic Diversification of financing sources
financial growth cycle
SME
multinomial logit model
spellingShingle Diversification of financing sources
financial growth cycle
SME
multinomial logit model
Briozzo, Anahí Eugenia
Vigier, Hernán P.
The effect of life cycles on diversification of financing sources for SMEs : evidence from Argentina
topic_facet Diversification of financing sources
financial growth cycle
SME
multinomial logit model
description We examined the effects of life cycle approaches on the capital structure of small and medium enterprises (SMEs) and tested the implications of these approaches using a sample of firms from Bahia Blanca (Argentina). We analysed the relationships between the diversification of financing sources and a set of variables from models of the financial growth cycle, the life-cycle of the owner-manager, and the life-cycle of the family firm. Using the multinomial logit model as an estimation method, we found some evidence of information asymmetries, but our main contribution lies in our assertion that the diversification of financing sources is partially a response to the characteristics of the firm owner’s: age, education, and goals for the firm.
author Briozzo, Anahí Eugenia
Vigier, Hernán P.
author_facet Briozzo, Anahí Eugenia
Vigier, Hernán P.
author_sort Briozzo, Anahí Eugenia
title The effect of life cycles on diversification of financing sources for SMEs : evidence from Argentina
title_short The effect of life cycles on diversification of financing sources for SMEs : evidence from Argentina
title_full The effect of life cycles on diversification of financing sources for SMEs : evidence from Argentina
title_fullStr The effect of life cycles on diversification of financing sources for SMEs : evidence from Argentina
title_full_unstemmed The effect of life cycles on diversification of financing sources for SMEs : evidence from Argentina
title_sort effect of life cycles on diversification of financing sources for smes : evidence from argentina
publisher Academic Journal
publishDate 2018
url http://repositoriodigital.uns.edu.ar/handle/123456789/4424
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