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

页码：257 / 267

页数：11

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