Capital growth, financing source and profitability of small businesses: Evidence from Taiwan small enterprises

被引：31
|
作者：
Fu, TW [1 ]
Ke, MC
Huang, YS
机构：
[1] Natl Def Management Coll, Grad Sch Financial Resource Management, Taipei, Taiwan
[2] Natl Chin Yi Inst Technol, Dept Ind Engn & Management, Taichung, Taiwan
[3] Natl Taiwan Univ Sci & Technol, Dept Business Adm, Taipei, Taiwan
来源：
SMALL BUSINESS ECONOMICS | 2002年 / 18卷 / 04期
关键词：
D O I：
10.1023/A:1015291605542
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the relationship between profitability and financial capital for 1,276 small firms in Taiwan over the period 1992-1997. The results indicate a statistically positive relationship between profitability and capital growth. When financial capital is further divided into debt and equity, the results indicate a significantly positive relationship between profitability and equity financing, but a significantly negative relationship between profitability and debt financing. Moreover, the profitability of small firms is positively related to both the external economic conditions and the firms' previous profitability.
引用
收藏
页码：257 / 267
页数：11
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