The financing policy of French SMEs
by Ramzi Benkraiem, Calin Gurau
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 11, No. 1, 2010

Abstract: This study verifies several predictions of trade-off and pecking order theories by investigating the influence of various firm characteristics on the financing policy of French SMEs. It also compares the empirical findings to those of similar studies in other countries. The evidence presented in this paper suggests that firm size, profitability, growth and tangibility of assets affect the financing policy of French SMEs in a significant way. This paper fills a gap in empirical literature by providing a level of analysis unmatched by the previous research on French SMEs. Thus, it should present useful insights for academics, professionals and policy makers.

Online publication date: Tue, 03-Aug-2010

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