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Capital Growth, Financing Journal: Small Business Economics

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  • Fu, Tze-Wei
  • Ke, Mei-Chu
  • Huang, Yen-Sheng

Abstract

This paper examines the relationship between profitability and financial capital for 1,276 small firms in Taiwan over the period 1992-97. The results indicate a statistically positive relationship between profitability and capital growth. When financial capital is further divided into debt and equity, the results indicate a significantly positive relationship between profitability and equity financing, but a significantly negative relationship between profitability and debt financing. Moreover, the profitability of small firms is positively related to both the external economic conditions and the firms' previous profitability. Copyright 2002 by Kluwer Academic Publishers

Suggested Citation

  • Fu, Tze-Wei & Ke, Mei-Chu & Huang, Yen-Sheng, 2002. "Capital Growth, Financing Journal: Small Business Economics," Small Business Economics, Springer, vol. 18(4), pages 257-267, June.
  • Handle: RePEc:kap:sbusec:v:18:y:2002:i:4:p:257-67
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    Cited by:

    1. Aleksandrova, E. & Verkhovskaya, O., 2015. "Institutional determinants of necessity-driven entrepreneurship," Working Papers 6434, Graduate School of Management, St. Petersburg State University.
    2. Naude, Wim, 2007. "Peace, Prosperity, and Pro-Growth Entrepreneurship," WIDER Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).

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