Industry Effects on the Determinants of Unquoted SMEs' Capital Structure

By G. Hall, P. Hutchinson, N. Michaelas. 2000

427 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/147fed2e7ea78712b9e00d295ec3ffe29c910dcd

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Citations in the corpus

Company financing, capital structure and ownership: a survey and implications for developing countries (2001, background): “This is a result that is found by Hall, Hutchinson, and Michaelas (2000) in a study of 3000 unquoted small and medium-sized UK companies.”
How SME Uniqueness Affects Capital Structure: Evidence From A 1994–1998 Spanish Data Panel (2002, neutral): “…and Thurik (1993), Chittenden et al. (1996), Hamilton and Fox (1998), Jordan et al. (1998), Michaelas et al. (1999), Wagenvoort and Hurst (1999) and Hall et al. (2000), and also for the Spanish context like Ocaña et al. (1994), Maroto (1996), Boedo and Calvo (1997), López and Romero (1997), Selva…”
A conceptual framework for identifying financing preferences of SMEs (2015, background): “Empirical studies conducted exclusively on the determinants of the capital structure of SMEs show the dominance of pecking order theory (Beck et al., 2008; Daskalakis & Psillaki, 2008; Degryse et al., 2012; Hall et al., 2000; Mateeva et al., 2013; Serrasqueiro, 2011; Watson & Wilson, 2002).”
The Impact of Firm Characteristics in Access of Financing by Small and Medium-sized Enterprises in Tanzania (2012, background): “The industry in which a firm operates does not influence the firm’s capital structure directly but might do so indirectly through the composition and nature of the firm’s assets (Hall et al., 2000).”
The Impact of Capital Structure on Risk and Firm Performance: Empirical Evidence for the Bucharest Stock Exchange Listed Companies (2018, background): “Hall et al. (2000) reported for U.K. small and medium sized enterprises, a positive link between long-term debt and asset structure, but a negative relation between company size and age; further short-term debt appeared to be negatively related to profitability, asset structure, size and age,…”
An Empirical Investigation of the Growth Cycle Theory of Small Firm Financing (2005, background): “Pecking order theory suggests that those funds will be used before external capital sources are tapped (Hall, Hutchinson, and Michaelas 2000).”
THE IMPACT OF FIRM AND ENTREPRENEURIAL CHARACTERISTICS ON ACCESS TO DEBT FINANCE BY SMES IN KING WILLIAMS TOWN, SOUTH AFRICA (2011, neutral): “Hall et al. (2000) conclude however that firm specific characteristics are more important than structural characteristics of industry and financial and strategy variables have far greater explanatory power than industry specific effects.”
Determinants of capital structure in Irish SMEs (2010, methodology): “Hall et al. (2000, p. 300) note that: ‘‘From consideration of the previous studies of the determinants of the capital structure of small enterprises it becomes clear that profitability, growth, asset structure, size and age and possibly industry are, prima facie, likely to be related to capital str”
Trade-Off Theory versus Pecking Order Theory: capital structure decisions in a peripheral region of Portugal (2014, methodology): “…based on previous studies, such as Titman and Wessels (1988); Van der Wijst and Thurik (1993); Chittenden et al. (1996); Michaelas et al. (1999); Hall et al. (2000); De Miguel and Pindado (2001); Sogorb- Mira (2001, 2005); Cassar and Holmes (2003); Ramalho and Silva (2009); González and…”
Like milk or wine: Does firm performance improve with age? (2013, result): “Similar results have been previously obtained by Hall et al. (2000), and also Segarra et al. (2010) on a similar database for Catalan manufacturing firms(12).”
The pecking order hypothesis: does it apply to start‐up firms? (2007, background): “At this stage of their development, businesses are informationally opaque ( Hall et al. , 2000”
Determinants of capital structure in emerging markets: evidence from Vietnam (2017, background): “The size of a firm has been reported to be an important determinant of capital structure in many different perspectives (Harris & Raviv 1991; Rajan & Zingales 1995; Hall et al. 2000; Bevan & Danbolt 2002).”
Determinants of capital structure: evidence from Turkish lodging companies. (2009, background): “The pecking order theory implies a positive relationship between growth opportunities and debt level (Benito, 2003; DeAngelo and Masulis, 1980; Hall et al., 2000; Jensen, 1986; Myers, 1984; Myers and Majluf, 1984; Zou and Xiao, 2006).”