Financing SMEs in different stages of the business cycle: Analyzing the financial search activity of Swedish SMEs between 1991 and 2000
2009 (English)In: Proceedings of the 6th International AGSE Entrepreneurship Research Exchange / [ed] L. Murry Gillin, 2009, 309-323 p.Conference paper (Other academic)
In this paper we analyse the financial search behaviour of small and medium sized enterprises (SMEs) in Sweden over a ten-year period, 1991-2000. We use a cluster analysis based on the level of control aversion that the entrepreneurs display, and arrive at a four-cluster solution. The results show that when the economy turns down, entrepreneurs are forced to be more active in searching for additional sources of finance. When the economy recovers, the control aversive entrepreneurs reduce their efforts in trying to get external financing. We can also see the SMEs in rural areas have greater difficulties in attracting external financing.
Place, publisher, year, edition, pages
2009. 309-323 p.
IdentifiersURN: urn:nbn:se:kth:diva-60951ISBN: 978-0-9803328-5-8OAI: oai:DiVA.org:kth-60951DiVA: diva2:478275
Proceedings of the 6th International AGSE Entrepreneurship Research Exchange, Feb 3-6, 2009, ECIC, University of Adelaide, South Australia, Australia
QC 201201192012-01-162012-01-162012-01-19Bibliographically approved