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The Foundations of Small Business Enterprise : An Entrepreneurial Analysis of Small Firm Inception and Growth - Gavin Reid

The Foundations of Small Business Enterprise

An Entrepreneurial Analysis of Small Firm Inception and Growth

Hardcover Published: 21st December 2006
ISBN: 9780415338776
Number Of Pages: 404

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This volume is an excellent addition to Routledge's Studies in Small Business series. In this extended and novel entrepreneurial analysis of small firm inception and growth, a leading authority in the field develops a new kind of 'micro-micro' analysis, applying rigorous methods from economics, accounting and finance to gain a deeper understanding of micro-firms. Reid examines performance, hierarchy, capital structure, monitoring and control, flexibility, innovation and information systems. 

Using statistical, econometric and qualitative methods of empirical research, Foundations of Small Business Enterprise tracks and analyses the evolution of 150 small firms from their early years through to maturity.

This title will appeal to a wide range of students, specialists and practitioners in economics, accounting and finance.


Industry Reviews

"The book examines a variety of issues: financial structure, flexibility, performance, contingency and information systems development, markets, human capital, technological change and business strategy. Using a number of econometric techniques, such as regression analysis, logit modelling and cluster analysis, the data analysis is totally empirically founded and strongly based on a variety of rigorous theories in economic and firm theory! The book is mainly aimed at academics, to demonstrate rigour in the testing of theories and there are many. However the non-academic and non-economist can benefit from the very interesting conclusions in this book! Overall, this book achieved its major objective, which was to consolidate all the results of Professor Reid's research in one place and link the different strands of the studies with a strong theoretical underpinning drawn from a number of different disciplines -- economics, entrepreneurship and IS. It is well written." -- Rana Tassabehji, University of Bradford School of Management

Figuresp. xiii
Tablesp. xiv
Prefacep. xvi
Acknowledgementsp. xx
Abbreviationsp. xxi
Backgroundp. 1
Small firm inception and growthp. 3
Introductionp. 3
Samplingp. 4
Summary evidence from first yearp. 5
Summary evidence from second yearp. 8
Summary evidence from third yearp. 11
Summary evidence from fourth yearp. 14
The structure of this bookp. 16
Conclusionp. 18
Endnotesp. 18
Fieldwork and databasep. 20
Introductionp. 20
Fieldwork activityp. 20
The sample and populationp. 21
The typical micro-firmp. 23
Key statistics from the databasep. 26
Conclusionp. 27
Endnotesp. 27
Main quantitative features of the databasep. 28
Introductionp. 28
Marketsp. 28
Financep. 30
Costsp. 31
Strategyp. 32
Human capitalp. 34
Organisationp. 35
Technical changep. 36
Conclusionp. 38
Appendixp. 38
Endnotesp. 40
Existing evidencep. 41
Growth and profitability of micro-firmsp. 43
Introductionp. 43
The neglect of the micro-firmp. 44
Variants of Gibrat's Lawp. 45
Classical vs. managerial theoriesp. 47
Conclusionp. 51
Endnotesp. 52
Funding shortagesp. 54
Introductionp. 54
The funding constraintp. 55
The data and the questionnairep. 57
Probit analysisp. 58
Conclusionp. 66
Endnotesp. 67
Financep. 69
Modelling financial structurep. 71
Introductionp. 71
Analytical underpinning: staticsp. 71
Analytical underpinning: dynamicsp. 73
The dynamic modelp. 74
Some illustrative examples from the literaturep. 78
Conclusionp. 82
Endnotesp. 82
Capital structure at inception and the short-run performance of micro-firmsp. 84
Introductionp. 84
Continuing or ceasing to tradep. 85
Econometric estimatesp. 92
Conclusionp. 96
Appendixp. 96
Endnotesp. 97
Trajectories of financial structurep. 99
Introductionp. 99
The dynamic approachp. 100
Evidencep. 102
Resultsp. 105
Conclusionp. 112
Endnotesp. 113
Performancep. 115
Performance rankings and cluster analysisp. 117
Introductionp. 117
The datap. 117
Performance rankingp. 119
Cluster analysisp. 120
Conclusionp. 128
Endnotesp. 128
Performance and business strategyp. 130
Introductionp. 130
The datap. 131
Explaining performance rank by business strategyp. 133
The estimatesp. 138
Conclusionp. 140
Appendixp. 140
Endnotesp. 142
Actions and outcomesp. 143
Introductionp. 143
Backgroundp. 144
Determinants of survivalp. 147
A parsimonious model of survivalp. 152
Conclusionp. 156
Appendixp. 158
Endnotesp. 159
Information and contingencyp. 161
Information and performancep. 163
Introductionp. 163
Information needsp. 163
Guiding decisionsp. 165
Using information systemsp. 167
Performance and IS developmentp. 168
Statistical analyses of IS and performancep. 171
Conclusionp. 172
Endnotesp. 173
Contingency and information system developmentp. 174
Introductionp. 174
Contingency theoryp. 175
Methodologyp. 177
Timing of contingencies and IS developmentp. 178
Conclusionp. 184
Endnotep. 184
Small firm type, organisational form and contingencyp. 185
Introductionp. 185
Cluster analysis of small firm typesp. 186
Regression analysis of organisational form and contingencyp. 189
Conclusionp. 195
Appendixp. 196
Endnotesp. 197
Flexibilityp. 199
Flexibility, growth and survivalp. 201
Introductionp. 201
Growth and viabilityp. 201
Flexibility and performancep. 202
Measuring performancep. 204
Performance, flexibility and firm-specific turbulencep. 205
Conclusionp. 205
Endnotesp. 206
Scale flexibilityp. 207
Introductionp. 207
Variants of Gibrat's Lawp. 207
Regression estimatesp. 209
Passage to equilibriump. 211
Conclusionp. 214
Endnotesp. 215
Market niche flexibilityp. 216
Introductionp. 216
The Markovian modelp. 217
The transition matrixp. 218
Passage to long-period equilibriump. 219
Conclusionp. 221
Principal theorems of Markov chainsp. 222
Endnotesp. 223
Flexibility, firm-specific turbulence and the performance of the long-lived small firmp. 224
Introductionp. 224
Datap. 224
Variablesp. 226
Estimatesp. 233
Selection equationp. 235
Performance equationsp. 236
Conclusionp. 240
Appendixp. 241
Endnotesp. 242
Epiloguep. 244
Appendix on instrumentationp. 247
Pre-lettersp. 249
Referencesp. 255
Administered questionnaire 1p. 271
Administered questionnaire 4p. 341
Indexp. 399
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780415338776
ISBN-10: 0415338778
Series: Routledge Studies in Small Business
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 404
Published: 21st December 2006
Country of Publication: GB
Dimensions (cm): 23.5 x 16.36  x 2.92
Weight (kg): 0.76
Edition Number: 1