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Title: A Cluster Analysis Approach to Financial Structure in Small Firms in the United States
Contributor(s): Gibson, Brian  (author)
Publication Date: 2002
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Abstract: This paper uses data from the 1993 National Survey of Small Business Finances sponsored by the Board of Governors of the Federal Reserve Board and the U.S. Small Business Administration to explore the equity and debt structure of small firms in the United States. Initially the paper provides descriptive detail of financial structure that is then used in a cluster analysis process to help identify a range of possibly "typical" financial structures. Results are also presented of exploratory analysis that seeks to identify associations with a range of variables posited to influence such structures. Included are industry, age, profit (measured in absolute and relative terms), sales growth, asset structure, and size (measured by sales and employee numbers). Results are generally supportive of the general agency cost explanations of financial structure in small firms.
Publication Type: Conference Publication
Conference Details: 16th Annual USASBE National Conference, Reno, Nevada, 17th - 20th January, 2002
Source of Publication: 16th Annual USASBE National Conference Proceedings: An Entrepreneurial Bonanza
Publisher: USASBE: United States Association for Small Business and Entrepreneurship
Place of Publication: Online
Field of Research (FOR): 150314 Small Business Management
150304 Entrepreneurship
Socio-Economic Objective (SEO): 910203 Industrial Organisations
910402 Management
Peer Reviewed: Yes
HERDC Category Description: E1 Refereed Scholarly Conference Publication
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