Small Business Finance: A Research Agenda
1985; Wiley; Volume: 14; Issue: 3 Linguagem: Inglês
10.2307/3665059
ISSN1755-053X
AutoresR. Richardson Pettit, Ronald F. Singer,
Tópico(s)Working Capital and Financial Performance
ResumoWith few exceptions, research in the area of business finance has downplayed the effect of firm size on financial behavior. This tendency has persisted in spite of a high level of interest in the area and an increased desire by colleges of business to offer students training in small business subjects. Recently, however, new empirical findings raise the possibility that size may affect financial relationships in an important way. Specifically, research has found that ex post risk-adjusted market returns vary inversely with firm size.' These findings might themselves justify an expanded research emphasis on the effect of business size on financial policy. Yet, recent advances in the theory of financial management, which are especially relevant to behavior of small compared to large firms, offer
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