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Control aversion and the search for external financing in Swedish SMEs
Department of Business Studies, Uppsala University.
Department of Economics, Swedish University of Agricultural Sciences.
Department of Business Studies, Uppsala University.
2000 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 15, no 3, 233-242 p.Article in journal (Refereed) Published
Abstract [en]

The discussion on growth (see Storey, 1997) and control aversion (Cressy, 1995; Chittenden et al., 1996; Cressy and Olofsson, 1996) in small and medium sized firms has been attracting an increasing amount of attention. Our purpose in this article is to identify under what circumstances small and medium sized firms are prepared to accept outside control in the business firm in order to grow. In the article it is argued that technology development, financial strength, size and perceived need to grow, change firms attitudes towards external financiers. The change in attitude towards more openness eventually leads to an actual behaviour where the principals choose to apply for external finance in the form of bank loans. A linear structural equation modelling program, LISREL, is used to analyse a sample of 281 Swedish firms. The firms all have less than 200 employees, and the sample includes both manufacturing and service firms.

Place, publisher, year, edition, pages
2000. Vol. 15, no 3, 233-242 p.
Keyword [en]
entrepreneurship, issues
National Category
Economics
Identifiers
URN: urn:nbn:se:kth:diva-20334DOI: 10.1023/A:1008153428618ISI: 000166777800006OAI: oai:DiVA.org:kth-20334DiVA: diva2:339029
Note
QC 20100525 QC 20111207Available from: 2010-08-10 Created: 2010-08-10 Last updated: 2017-12-12Bibliographically approved

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