Repository logo
 
Publication

A survey of corporate finance practices in micro-enterprises: an exploratory analysis conditional on firm and manager characteristics

2024-11-21Journal article Open Access
Simple item page
dc.contributor.authorMorais Francisco, Paulo
dc.date.accessioned2024-12-16T10:39:14Z
dc.date.available2024-12-16T10:39:14Z
dc.date.issued2024-11-21
dc.description.abstractThis study outlines the findings from a survey of 208 micro-enterprises (MEs) in Portugal, focusing on their corporate finance practices, including working capital management (WCM), financing and investment decisions, the adoption of accounting information systems (AIS) and the use of financial data. Both an unconditional exploratory study and a study conditional on the characteristics of the ME and its manager are conducted. The unconditional results reveal direct CEO involvement in cash management and accounts receivable in MEs. While these companies use AIS for financial reporting, the use of financial ratios is uncommon. Additionally, these MEs do not frequently calculate the cost of capital and primarily rely on the payback rule as an investment decision criterion. With respect to the conditional analysis, the results indicate that factors such as size and managers' education, especially in finance, significantly influence the sophistication of corporate finance functions. Moreover, management diversity emerges as a key driver across various financial functions, and family businesses demonstrate heightened concern for these financial aspects. The study concludes by recommending the promotion of financial education for ME managers to enhance their financial management practices. Particularly, it advocates for targeted financial literacy policies and training and the adoption of advanced financial tools to support the growth and sustainability of MEs.eng
dc.identifier.doi10.1080/23311975.2024.2429791
dc.identifier.issn2331-1975
dc.identifier.urihttp://hdl.handle.net/10400.1/26478
dc.language.isoeng
dc.peerreviewedyes
dc.publisherTaylor and Francis Group
dc.relationCenter for Advanced Studies in Management and Economics
dc.relation.ispartofCogent Business & Management
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectMicro-enterprises
dc.subjectCorporate finance
dc.subjectInvestment analysis
dc.subjectFinancial analysis
dc.subjectAccounting systems
dc.subjectG31
dc.subjectG32
dc.subjectM21
dc.subjectM41
dc.subjectFinance
dc.subjectBusiness
dc.subjectManagement and Accounting
dc.subjectCorporate Finance
dc.subjectAccounting
dc.subjectEntrepreneurship and small business management
dc.titleA survey of corporate finance practices in micro-enterprises: an exploratory analysis conditional on firm and manager characteristicseng
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleCenter for Advanced Studies in Management and Economics
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04007%2F2020/PT
oaire.citation.issue1
oaire.citation.startPage2429791
oaire.citation.titleCogent Business & Management
oaire.citation.volume11
oaire.fundingStream6817 - DCRRNI ID
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85
person.familyNameMorais Francisco
person.givenNamePaulo
person.identifier.ciencia-idCD18-B229-B04B
person.identifier.orcid0000-0001-6632-3097
person.identifier.scopus-author-id56478668900
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
relation.isAuthorOfPublication1765bde5-8c14-4c7d-9ce9-5bc93887aeff
relation.isAuthorOfPublication.latestForDiscovery1765bde5-8c14-4c7d-9ce9-5bc93887aeff
relation.isProjectOfPublication2fa5dcac-9207-4f5b-b4be-54fcf7dcdd7d
relation.isProjectOfPublication.latestForDiscovery2fa5dcac-9207-4f5b-b4be-54fcf7dcdd7d

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
A survey of corporate finance practices in micro-enterprises an exploratory analysis conditional on firm and manager characteristics.pdf
Size:
4.4 MB
Format:
Adobe Portable Document Format
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
3.46 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

FEC2-Artigos (em revistas ou actas indexadas)